Macy’s (NYSE:M) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of Macy’s (NYSE:M) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

Several other equities analysts have also recently commented on M. Morgan Stanley reduced their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI cut their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.43.

Macy’s Trading Down 2.1 %

M opened at $15.34 on Friday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 23.97 and a beta of 2.11. The firm’s 50 day moving average is $15.37 and its 200-day moving average is $17.04. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s has a 52-week low of $10.59 and a 52-week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. Analysts expect that Macy’s will post 2.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Macy’s

Several large investors have recently added to or reduced their stakes in M. Quest Partners LLC acquired a new stake in Macy’s in the 3rd quarter valued at approximately $35,000. Venturi Wealth Management LLC increased its position in shares of Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Macy’s in the third quarter worth about $39,000. EntryPoint Capital LLC bought a new stake in shares of Macy’s in the 1st quarter worth approximately $51,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Macy’s during the 2nd quarter valued at $57,000. 87.36% of the stock is owned by institutional investors and hedge funds.

About Macy’s

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.