Zacks Investment Research lowered shares of Macy's from a "buy" rating to a "hold" rating in a research note on Tuesday, May 8th. Gordon Haskett upgraded shares of Macy's from a "hold" rating to a "buy" rating and set a $36.00 target price for the company in a research note on Thursday, March 1st. ValuEngine lowered Macy's from a "hold" rating to a "sell" rating in a research report on Wednesday, May 9th.
A number of analysts have commented on the stock. The company presently has a consensus rating of "Hold" and an average target price of $26.49.
Shares of NYSE:M traded up $0.15 during trading on Friday, reaching $29.79. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.45 and a current ratio of 1.47. Macy's has a one year low of $17.41 and a one year high of $31.04.
Macy's (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.82 EPS for the quarter, topping the Zacks' consensus estimate of $2.71 by $0.11. The company said that it had $0.48 in earnings per share (EPS) on $5.54 billion in revenue, which compares with consensus estimates from Thomson Reuters of $0.35 in EPS on revenue of $5.39 billion. Macy's had a return on equity of 24.93% and a net margin of 6.23%. The firm's quarterly revenue was up 1.8% compared to the same quarter a year ago. During the same period in the previous year, the firm earned $2.02 EPS. analysts expect that Macy's Inc. will post 3.62 EPS for the current year.
In other Macy's news, CFO Karen M. Hoguet sold 67,515 shares of the company's stock in a transaction dated Thursday, March 1st. Also, Director Marna C. Whittington sold 20,000 shares of the company's stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $29.25, for a total value of $265,941.00. Prudential Financial Inc. now owns 5,013,391 shares of the company's stock worth $109,392,000 after purchasing an additional 2,153,110 shares during the last quarter. The disclosure for this purchase can be found here. Insiders sold 107,392 shares of company stock worth $3,173,164 over the last ninety days. Ltd lifted its holdings in shares of Macy's by 78.4% in the first quarter. Comparable sales growth on owned basis is forecast to be +0.3% during the quarter, while comparable sales on owned plus licensed basis is seen rising +1.0%. Element Capital Management LLC bought a new position in shares of Macy's in the 4th quarter worth $53,293,000.
Macy's, Inc.'s results for the first quarter of 2018 reflect continuing momentum in the business. Following the completion of the sale, the director now owns 54,834 shares of the company's stock, valued at $1,661,470.20. LSV Asset Management raised its position in shares of Macy's by 3.8% in the fourth quarter. 370,623 shares of the company's stock were exchanged, compared to its average volume of 10,037,056. Finally, Doyle Wealth Management raised its position in Macy's by 8.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,696,773 shares of the company's stock valued at $67,932,000 after buying an additional 497,496 shares during the last quarter. Institutional investors own 89.05% of the company's stock. The winning formula for Macy's, Inc.is a healthy brick & mortar business, robust e-commerce and a great mobile experience. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods.