Macy’s (NYSE:M) Earns “Neutral” Rating from Guggenheim

Macy’s (NYSE:M)‘s stock had its “neutral” rating reiterated by analysts at Guggenheim in a note issued to investors on Thursday,Benzinga reports.

A number of other analysts have also weighed in on M. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley lowered their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average target price of $18.38.

Macy’s Stock Performance

NYSE:M opened at $16.57 on Thursday. The firm has a market capitalization of $4.60 billion, a PE ratio of 28.08 and a beta of 2.10. The stock’s fifty day moving average is $15.79 and its 200 day moving average is $16.51. Macy’s has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. On average, sell-side analysts anticipate that Macy’s will post 2.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Macy’s by 7.7% during the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after acquiring an additional 598 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Macy’s by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after purchasing an additional 761 shares in the last quarter. United Services Automobile Association boosted its position in shares of Macy’s by 4.8% in the 2nd quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock worth $423,000 after purchasing an additional 1,012 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Macy’s by 2.5% in the 2nd quarter. Federated Hermes Inc. now owns 44,337 shares of the company’s stock worth $851,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Affinity Capital Advisors LLC grew its stake in Macy’s by 11.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company’s stock worth $190,000 after buying an additional 1,248 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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.