Macy's (NYSE:M) Earns Market Perform Rating from Telsey Advisory Group

Key Points

• Telsey Advisory Group reaffirmed Macy's "market perform" rating with a price target of $14.00, suggesting a potential upside of 4.75% from its current price.
• In its latest quarterly earnings, Macy's reported $0.16 earnings per share, surpassing estimates, but saw a 5.1% decline in revenue year-over-year.
• The stock has a consensus rating of "Hold" with a current market capitalization of $3.63 billion, and analysts forecast earnings per share of 2.39 for the current fiscal year.

Macy's (NYSE:M - Get Free Report)'s stock had its "market perform" rating reaffirmed by Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $14.00 price target on the stock. Telsey Advisory Group's price target indicates a potential upside of 4.75% from the stock's current price.

A number of other equities analysts also recently commented on M. Citigroup reaffirmed a "neutral" rating and issued a $12.00 price objective (up previously from $11.00) on shares of Macy's in a report on Thursday, May 29th. Morgan Stanley reissued a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $13.22.

Macy's Stock Up 0.7%

M stock opened at $13.37 on Wednesday. Macy's has a twelve month low of $9.76 and a twelve month high of $18.13. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $3.63 billion, a P/E ratio of 6.78 and a beta of 1.79. The firm has a 50 day simple moving average of $12.36 and a 200-day simple moving average of $12.50.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.38 billion. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. On average, equities research analysts predict that Macy's will post 2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Macy's

Large investors have recently bought and sold shares of the stock. Summit Securities Group LLC raised its stake in shares of Macy's by 106.0% in the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock valued at $28,000 after buying an additional 38,800 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Macy's in the 1st quarter valued at $29,000. UMB Bank n.a. raised its stake in shares of Macy's by 523.0% in the 2nd quarter. UMB Bank n.a. now owns 3,171 shares of the company's stock valued at $37,000 after buying an additional 2,662 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Macy's by 28.7% in the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company's stock valued at $57,000 after buying an additional 1,087 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Macy's by 116.2% in the 2nd quarter. GAMMA Investing LLC now owns 7,590 shares of the company's stock valued at $88,000 after buying an additional 4,080 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

About Macy's

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.

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