Macy’s’ (M) “Market Perform” Rating Reiterated at Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They currently have a $17.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 23.10% from the company’s current price.

A number of other equities research analysts also recently issued reports on M. Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, December 16th. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley cut their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. UBS Group decreased their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.78.

Macy’s Stock Down 1.5 %

M opened at $13.81 on Tuesday. Macy’s has a 12 month low of $13.66 and a 12 month high of $22.10. The company has a market cap of $3.83 billion, a PE ratio of 23.41 and a beta of 2.07. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $16.15 and a 200 day moving average of $16.09.

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

Hedge Funds Weigh In On Macy’s

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after purchasing an additional 118,626 shares during the period. FMR LLC increased its holdings in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after buying an additional 195,880 shares during the period. Virtu Financial LLC bought a new stake in shares of Macy’s in the 3rd quarter valued at about $594,000. Alerus Financial NA purchased a new stake in Macy’s during the 3rd quarter valued at about $2,144,000. Finally, Retirement Systems of Alabama grew its position in Macy’s by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after acquiring an additional 286,879 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

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.