Macy's (M) Stock Forecast, Price & News

11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Macy's in the last year. There are currently 3 sell ratings, 5 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" M shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in M, but not buy additional shares or sell existing shares.
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11 Wall Street analysts have issued 1 year price targets for Macy's' shares. Their M share price forecasts range from $10.00 to $23.00. On average, they anticipate the company's share price to reach $15.50 in the next year. This suggests a possible upside of 36.4% from the stock's current price.
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Macy's' stock was trading at $20.65 at the beginning of the year. Since then, M shares have decreased by 45.0% and is now trading at $11.36.
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Macy's saw a increase in short interest in the month of September. As of September 15th, there was short interest totaling 31,350,000 shares, an increase of 41.3% from the August 31st total of 22,180,000 shares. Based on an average daily volume of 10,730,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 11.5% of the company's shares are sold short.
View Macy's' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, November 16th 2023.
View our M earnings forecast.

Macy's, Inc. (NYSE:M) posted its quarterly earnings results on Tuesday, August, 22nd. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.13. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.07 billion. Macy's had a trailing twelve-month return on equity of 22.46% and a net margin of 3.15%. The firm's revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS.

Macy's declared a quarterly dividend on Friday, August 25th. Shareholders of record on Friday, September 15th will be given a dividend of $0.1654 per share on Monday, October 2nd. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date is Thursday, September 14th. This is a boost from the stock's previous quarterly dividend of $0.17.
Read our dividend analysis for M.

ETFs with the largest weight of Macy's (NYSE:M) stock in their portfolio include First Trust Consumer Discretionary AlphaDEX Fund (FXD), SPDR S&P Retail ETF (XRT), Invesco S&P MidCap 400 Pure Value ETF (RFV), Invesco S&P MidCap 400 Revenue ETF (RWK), iShares Factors US Value Style ETF (STLV), Direxion Daily Retail Bull 3X Shares (RETL), Hartford Longevity Economy ETF (HLGE) and First Trust Mid Cap Value AlphaDEX Fund (FNK).

Macy's (NYSE:M) pays an annual dividend of $0.66 per share and currently has a dividend yield of 5.70%. M has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 24.44%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, M will have a dividend payout ratio of 23.66% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for M.

Macy's announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 22nd 2022, which allows the company to buyback $2,000,000,000.00 in shares, according to EventVestor. This buyback authorization allows the company to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its stock is undervalued.

Macy's updated its third quarter 2023 earnings guidance on Wednesday, August, 23rd. The company provided earnings per share guidance of -$0.03-$0.02 for the period, compared to the consensus earnings per share estimate of $0.26. The company issued revenue guidance of $4.75 billion-$4.85 billion, compared to the consensus revenue estimate of $4.88 billion.

2,528 employees have rated Macy's Chief Executive Officer Jeff Gennette on Glassdoor.com. Jeff Gennette has an approval rating of 62% among the company's employees. This puts Jeff Gennette in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Macy's investors own include AT&T (T), General Electric (GE), Intel (INTC), NVIDIA (NVDA), Micron Technology (MU), Netflix (NFLX), Bank of America (BAC), Ford Motor (F), Walt Disney (DIS) and Tesla (TSLA).

Macy's trades on the New York Stock Exchange (NYSE) under the ticker symbol "M."

Shares of M stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of M stock can currently be purchased for approximately $11.36.

Macy's (NYSE:M) has a market capitalization of $3.11 billion and generates $24.44 billion in revenue each year. The company earns $1.18 billion in net income (profit) each year or $2.70 on an earnings per share basis.

The company employs 94,570 workers across the globe.

Macy's' mailing address is 151 WEST 34TH STREET, NEW YORK NY, 10001. The official website for the company is www.macysinc.com. The company can be reached via phone at (212) 494-1621, via email at investors@macys.com, or via fax at 212-494-1838.