Zacks cut shares of Macy’s (NYSE:M) from a neutral rating to an underperform rating in a research note issued to investors on Friday, StockRatingsNetwork reports. The firm currently has $39.00 price target on the stock.
Macy’s (NYSE:M) opened at 43.27 on Friday. Macy’s has a 52 week low of $36.30 and a 52 week high of $50.77. The stock has a 50-day moving average of $44.85 and a 200-day moving average of $46.24. The company has a market cap of $16.280 billion and a P/E ratio of 12.52.
Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.79 by $0.07. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Analysts expect that Macy’s will post $3.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, September 11th.
M has been the subject of a number of other recent research reports. Analysts at Pacific Crest initiated coverage on shares of Macy’s (NYSE:M) in a research note to investors on Friday. They set an outperform rating and a $54.00 price target on the stock. Separately, analysts at Sterne Agee cut their EPS estimates on shares of Macy’s (NYSE:M) in a research note on Tuesday. They now have a buy rating and a $52.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Macy’s (NYSE:M) in a research note to investors on Wednesday, September 4th. They set a neutral rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Macy’s presently has a consensus rating of Buy and an average price target of $50.91.
Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.