BMO Capital Markets Analysts Give Macy's (M) a $38.00 Price Target

Macy's (NYSE:M) has been given a $38.00 price target by BMO Capital Markets in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 55.23% from the company’s previous close.

M has been the topic of a number of other reports. Zacks Investment Research lowered Macy's from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Citigroup lowered Macy's from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $21.00 to $16.00 in a research report on Monday, October 30th. Royal Bank of Canada reiterated a “hold” rating and issued a $23.00 price objective on shares of Macy's in a research report on Monday, September 18th. Guggenheim restated a “buy” rating and set a $27.00 price target on shares of Macy's in a research report on Friday, December 15th. Finally, Vetr upgraded Macy's from a “buy” rating to a “strong-buy” rating and set a $27.57 price target on the stock in a research report on Monday, December 18th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Macy's presently has an average rating of “Hold” and a consensus target price of $25.91.

Macy's (NYSE M) opened at $24.48 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. Macy's has a 1 year low of $17.41 and a 1 year high of $34.37. The stock has a market capitalization of $7,460.00, a P/E ratio of 10.78, a P/E/G ratio of 0.83 and a beta of 0.97.

Macy's (NYSE:M) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ 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 return on equity of 21.20% and a net margin of 2.83%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. analysts predict that Macy's will post 3.47 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Macy's in the second quarter worth $335,000. Ffcm LLC raised its stake in shares of Macy's by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after purchasing an additional 3,615 shares during the last quarter. Kistler Tiffany Companies LLC purchased a new stake in Macy's during the third quarter valued at $148,000. IFP Advisors Inc increased its position in Macy's by 62.9% during 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 during the last quarter. Finally, IFM Investors Pty Ltd purchased a new stake in Macy's during the third quarter valued at $200,000. Hedge funds and other institutional investors 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.

Analyst Recommendations for Macy's (NYSE:M)

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