Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a report issued on Thursday. The firm issued a hold rating on the stock.

Other equities analysts also recently issued research reports about the stock. Evercore ISI cut their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Morgan Stanley cut their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $20.43.

Macy’s Stock Down 0.7 %

Shares of NYSE:M opened at $16.18 on Thursday. The stock has a market cap of $4.47 billion, a P/E ratio of 539.33 and a beta of 2.11. The firm has a fifty day moving average price of $15.55 and a 200 day moving average price of $17.45. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. Macy’s has a 1-year low of $10.59 and a 1-year high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. Sell-side analysts predict that Macy’s will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.1737 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.29%. Macy’s’s dividend payout ratio is presently 2,300.00%.

Hedge Funds Weigh In On Macy’s

Large investors have recently made changes to their positions in the stock. Riverview Trust Co acquired a new stake in Macy’s in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new stake in Macy’s in the 1st quarter valued at about $42,000. Future Financial Wealth Managment LLC acquired a new stake in Macy’s in the 1st quarter valued at about $50,000. EntryPoint Capital LLC acquired a new stake in Macy’s in the 1st quarter valued at about $51,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Macy’s in the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.