Macy's Inc. (NYSE:M) was downgraded by Vetr from a "hold" rating to a "sell" rating in a report issued on Monday, MarketBeat.com reports. They presently have a $35.17 price objective on the stock. Vetr's price target would indicate a potential downside of 4.01% from the stock's previous close.
Macy's (NYSE:M) opened at 36.64 on Monday, MarketBeat.com reports. The firm has a 50-day moving average of $36.89 and a 200-day moving average of $37.71. Macy's has a 52-week low of $29.94 and a 52-week high of $59.91. The stock has a market capitalization of $11.30 billion and a PE ratio of 14.69.
Macy's (NYSE:M) last issued its earnings results on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. During the same period last year, the business earned $0.64 EPS.
The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.73 billion. The company's quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts expect that Macy's will post $3.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Tuesday, September 13th.
Other large investors have bought and sold shares of the company. Americafirst Capital Management LLC acquired a new stake in Macy's during the second quarter worth $133,000. Advisory Services Network LLC increased its stake in Macy's by 13.3% in the second quarter.
Advisory Services Network LLC now owns 4,800 shares of the company's stock worth $161,000 after buying an additional 565 shares during the period. First Manhattan Co. increased its stake in Macy's by 56.7% in the second quarter.
First Manhattan Co. now owns 4,966 shares of the company's stock worth $166,000 after buying an additional 1,796 shares during the period. Pacific Global Investment Management CO acquired a new stake in Macy's during the first quarter worth $208,000. Finally, Benchmark Capital Advisors acquired a new stake in Macy's during the first quarter worth $220,000.
M has been the topic of a number of other research reports. Stifel Nicolaus restated a "hold" rating on shares of Macy's in a report on Wednesday, May 11th.
Morgan Stanley cut their price target on shares of Macy's from $40.00 to $35.00 and set an "equal weight" rating on the stock in a report on Thursday, May 12th.
Telsey Advisory Group cut their price target on shares of Macy's from $44.00 to $36.00 and set a "market perform" rating on the stock in a report on Thursday, May 12th.
Royal Bank Of Canada cut their price target on shares of Macy's from $42.00 to $35.00 and set a "sector perform" rating on the stock in a report on Thursday, May 12th.
Finally, Northcoast Research downgraded shares of Macy's from a "buy" rating to a "neutral" rating in a report on Thursday, May 12th.
Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of "Hold" and a consensus price target of $44.74.
Macy's, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy's, Bloomingdale's and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men's, women's and children's), cosmetics, home furnishings and other consumer goods.