Macy’s Inc (NYSE:M) shares traded -1.44% lower at $21.19 on Wall Street last session.
M stock price is now 11.03% away from the 50-day moving average and 35.66% away from the 200-day moving average. The market capitalization of the company currently stands at $5.81B.
With the price target reduced from $23 to $20, TD Cowen Downgraded its rating from Outperform to Market Perform for Macy’s Inc (NYSE: M). On February 28, 2024, Telsey Advisory Group reiterated its ‘Market Perform’ rating on the stock by increasing its target price from $15 to quote $21, while ‘Citigroup’ rates the stock as ‘Neutral’
In other news, Mitchell Adrian V, EVP, COO & CFO sold 57,214 shares of the company’s stock on Nov 24 ’23. 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 $1.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 05 ’23, 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. A total of 0.62% of the company’s stock is owned by insiders.
During the past 12 months, Macy’s Inc has had a low of $10.54 and a high of $21.65. As of last week, the company has a debt-to-equity ratio of 1.45, a current ratio of 1.37, and a quick ratio of 0.39. According to the stock market information, the enterprise value for the company is $10.76B, which is based on a 56.89 price-to-earnings ratio, a 4.74 price-to-earnings-growth ratio, and a beta of 2.16. The fifty day moving average price for M is $19.13 and a two-hundred day moving average price translates $15.65 for the stock.
The latest earnings results from Macy’s Inc (NYSE: M) was released for Feb, 2024. According to the Department Stores Company, earnings per share came in at $2.45, beating analysts’ expectations of $1.96 by 0.49. This compares to $1.82 EPS in the same period last year. The net profit margin was 0.44% and return on equity was 2.56% for M. The company reported revenue of $8.38 billion for the quarter, compared to $8.44 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.76 percent. For the current quarter, analysts expect M to generate $4.85B in revenue.
