Macy’s (M) Raised to Strong-Buy at Vetr

Vetr upgraded shares of Macy’s (NYSE:M) from a buy rating to a strong-buy rating in a research note issued to investors on Monday morning. The firm currently has $27.57 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Cowen reiterated a hold rating and set a $23.00 price objective on shares of Macy’s in a research note on Thursday, September 28th. Zacks Investment Research lowered shares of Macy’s from a hold rating to a sell rating in a research note on Wednesday, November 8th. Royal Bank of Canada set a $21.00 price objective on shares of Macy’s and gave the stock a sector perform rating in a research note on Friday, October 20th. Susquehanna Bancshares set a $38.00 target price on shares of Macy’s and gave the stock a buy rating in a research report on Friday, October 20th. Finally, BidaskClub upgraded shares of Macy’s from a sell rating to a hold rating in a research report on Saturday, August 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $25.50.

Shares of Macy’s (NYSE:M) opened at $25.57 on Monday. The firm has a market cap of $7,790.00, a PE ratio of 8.50, a P/E/G ratio of 0.88 and a beta of 0.97. Macy’s has a 12 month low of $17.41 and a 12 month high of $37.67. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29.

Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. Macy’s’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. analysts expect that Macy’s will post 3.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 5.91%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is presently 66.52%.

Institutional investors have recently bought and sold shares of the company. Ffcm LLC boosted its holdings in shares of Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after acquiring an additional 3,615 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Macy’s by 51.1% in the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after acquiring an additional 1,880 shares in the last quarter. Kistler Tiffany Companies LLC bought a new position in shares of Macy’s in the third quarter valued at approximately $148,000. IFP Advisors Inc boosted its holdings in shares of Macy’s by 62.9% in the third quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock valued at $174,000 after acquiring an additional 3,083 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new position in shares of Macy’s in the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 82.04% of the company’s stock.

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About Macy’s

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Macy`s (NYSE:M)

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