Stocks of Macy’s Inc (NYSE:M) traded higher last session on Wall Street, up 19.44% to $20.77.
According to the data, Macy’s Inc (NYSE:M) has 15 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $21.00 and a low of $11.00, we find $15.40. Given the previous closing price of $17.39, this indicates a potential downside of -11.44 percent. M stock price is now 61.39% away from the 50-day moving average and 38.16% away from the 200-day moving average. The market capitalization of the company currently stands at $5.69B.
A total of 8 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $15.73 as their price target over the next twelve months.
With the price target of $13, Evercore ISI recently initiated with In-line rating for Macy’s Inc (NYSE: M).
In other news, Mitchell Adrian V, EVP, COO & CFO sold 57,214 shares of the company’s stock on Nov 24. The stock was sold for $837,172 at an average price of $14.63. Upon completion of the transaction, the EVP, COO & CFO now directly owns 78,386 shares in the company, valued at $1.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 05, SVP and Controller Griscom Paul sold 1,212 shares of the business’s stock. A total of $14,817 was realized by selling the stock at an average price of $12.22. This leaves the insider owning 14,727 shares of the company worth $0.31 million. Insiders disposed of 868,582 shares of company stock worth roughly $18.04 million over the past 1 year. A total of 0.63% of the company’s stock is owned by insiders.
Monday’s opening bell rang with an opening price of $19.94 for Macy’s Inc (NYSE: M). During the past 12 months, Macy’s Inc has had a low of $10.54 and a high of $25.12. As of last week, the company has a debt-to-equity ratio of 1.49, a current ratio of 1.18, and a quick ratio of 0.17. The fifty day moving average price for M is $12.87 and a two-hundred day moving average price translates $15.03 for the stock.
The latest earnings results from Macy’s Inc (NYSE: M) was released for Oct, 2023. According to the Department Stores Company, earnings per share came in at $0.21, beating analysts’ expectations of $0 by 0.21. This compares to $0.39 EPS in the same period last year. The net profit margin was 2.85% and return on equity was 17.96% for M. The company reported revenue of $5.04 billion for the quarter, compared to $5.47 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.85 percent. For the current quarter, analysts expect M to generate $8.13B in revenue.
Macy’s Inc(M) Company Profile
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. It also operates in Dubai, the United Arab Emirates, and Al Zahra, Kuwait under the license agreements. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy’s, Inc. in June 2007. The company was founded in 1830 and is based in New York, New York.
