Stocks of Macy’s Inc (NYSE:M) traded higher last session on Wall Street, down -2.60% to $20.25.
M stock price is now 4.87% away from the 50-day moving average and 28.25% away from the 200-day moving average. The market capitalization of the company currently stands at $5.55B.
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 $1.59 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 $0.3 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 $22.10. As of last week, the company has a debt-to-equity ratio of 1.53, 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 $10.50B, which is based on a 54.10 price-to-earnings ratio, a 4.51 price-to-earnings-growth ratio, and a beta of 2.18. The fifty day moving average price for M is $19.33 and a two-hundred day moving average price translates $15.81 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.
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. Macy’s, Inc. was founded in 1830 and is based in New York, New York.
