Citigroup upgraded shares of Macy’s (NYSE:M – Get Rating) from a sell rating to a neutral rating in a research report sent to investors on Thursday, Price Targets.com reports. Citigroup currently has $25.00 price target on the stock.
M has been the topic of a number of other research reports. Gordon Haskett boosted their price objective on shares of Macy’s from $33.00 to $35.00 and gave the company a buy rating in a research report on Wednesday, February 23rd. Cowen boosted their price objective on shares of Macy’s from $37.00 to $45.00 and gave the company an outperform rating in a research report on Friday, November 19th. Evercore ISI upgraded shares of Macy’s from an in-line rating to an outperform rating and set a $50.00 price objective on the stock in a research report on Wednesday, February 16th. Telsey Advisory Group decreased their price objective on shares of Macy’s from $40.00 to $30.00 and set a market perform rating on the stock in a research report on Tuesday, February 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Macy’s from $32.00 to $34.00 and gave the company a hold rating in a research note on Wednesday, February 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $32.50.
Shares of NYSE:M opened at $26.36 on Thursday. The stock has a market cap of $7.89 billion, a PE ratio of 5.73, a PEG ratio of 0.48 and a beta of 1.96. The company’s fifty day moving average is $25.74 and its 200 day moving average is $25.42. Macy’s has a 52 week low of $14.33 and a 52 week high of $37.95. The company has a quick ratio of 0.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.91.
Macy’s (NYSE:M – Get Rating) last issued its earnings results on Monday, February 21st. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.45. The company had revenue of $8.67 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Macy’s had a net margin of 5.84% and a return on equity of 53.59%. The firm’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. Sell-side analysts anticipate that Macy’s will post 4.33 EPS for the current year.
Macy’s announced that its board has approved a stock repurchase program on Tuesday, February 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 1st. Investors of record on Tuesday, March 15th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Monday, March 14th. This represents a $0.63 annualized dividend and a yield of 2.39%. This is a positive change from Macy’s’s previous quarterly dividend of $0.15. Macy’s’s payout ratio is presently 13.04%.
A number of large investors have recently bought and sold shares of M. Counterpoint Mutual Funds LLC bought a new position in shares of Macy’s in the fourth quarter worth approximately $25,000. Confluence Wealth Services Inc. bought a new position in shares of Macy’s in the fourth quarter worth approximately $31,000. Sageworth Trust Co of South Dakota bought a new position in shares of Macy’s in the fourth quarter worth approximately $34,000. First Quadrant L P CA bought a new position in shares of Macy’s in the third quarter worth approximately $38,000. Finally, Carroll Financial Associates Inc. lifted its stake in shares of Macy’s by 122.6% in the third quarter. Carroll Financial Associates Inc. now owns 1,850 shares of the company’s stock worth $41,000 after buying an additional 1,019 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.
Macy’s Company Profile (Get Rating)
Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.
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