Macy’s Inc (NYSE:M) Target Change
In an analyst report made public by Sterne Agee CRT on 22 February, Macy’s Inc (NYSE:M) had its target price per share upped to $43.00. The firm at present has “Neutral” rating on the stock.
Out of 20 analysts covering Macy’s Inc. (NYSE:M), 0 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means NaN are positive. $53 is the highest target while $30 is the lowest. The $43.4 average target is 45.04% above today’s ($40.54) stock price. Macy’s Inc. was the topic in 42 analyst reports since July 24, 2015 according to StockzIntelligence Inc. JP Morgan reinitiated the stock on January 21 with “Neutral” rating. Goldman Sachs downgraded it to “Neutral” rating and $42 target price in a December 4 report. Goldman Sachs downgraded the shares of M in a report on January 11 to “Neutral” rating. Barclays Capital maintained the firm’s rating on November 12. Barclays Capital has “Underweight” rating and $38 price target. Finally, Northcoast upgraded the stock to “Buy” rating in a November 12 report.
About 1.85 million shares traded hands. Macy’s, Inc. (NYSE:M) has declined 44.74% since July 16, 2015 and is downtrending. It has underperformed by 35.02% the S&P500.
Analysts await Macy’s, Inc. (NYSE:M) to reports earnings on February, 23 before the open. They expect $1.86 earnings per share, down 23.77% or $0.58 from last year’s $2.44 per share. M’s profit will be $572.13 million for 5.45 P/E if the $1.86 EPS becomes reality. After $0.56 actual earnings per share reported by Macy’s, Inc. for the previous quarter, Wall Street now forecasts 232.14% EPS growth.
Macy’s, Inc. is an omnichannel retail firm operating stores, Websites and mobile. The company has a market cap of $12.47 billion. As of January 31, 2015, the activities of the Company included 823 stores with an area of approximately 147,400,000 square feet in 45 states of the United States, the District of Columbia, Guam and Puerto Rico. It has 10.64 P/E ratio. Of these 823 stores, 447 were owned, 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land.
According to Zacks Investment Research, “Macy’s is one of the nation’s premier retailers, operating about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico, under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Prior to June 1, 2007, Macy’s was known as Federated Department Stores.”
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