The stock of Macy’s Inc (NYSE:M) is a huge mover today! About 1.48 million shares traded hands. Macy’s Inc (NYSE:M) has declined 14.76% since March 8, 2016 and is downtrending. It has underperformed by 24.08% the S&P500.
The move comes after 7 months positive chart setup for the $11.39 billion company. It was reported on Oct, 11 by Barchart.com. We have $60.96 PT which if reached, will make NYSE:M worth $7.18 billion more.
Analysts await Macy’s Inc (NYSE:M) to report earnings on November, 9. They expect $0.42 earnings per share, down 25.00% or $0.14 from last year’s $0.56 per share. M’s profit will be $127.91M for 22.26 P/E if the $0.42 EPS becomes a reality. After $0.54 actual earnings per share reported by Macy’s Inc for the previous quarter, Wall Street now forecasts -22.22% negative EPS growth.
Macy’s Inc (NYSE:M) Ratings Coverage
Out of 27 analysts covering Macy’s Inc. (NYSE:M), 4 rate it a “Buy”, 2 “Sell”, while 21 “Hold”. This means 15% are positive. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. As per Thursday, November 12, the company rating was maintained by Morgan Stanley. As per Tuesday, August 25, the company rating was upgraded by Deutsche Bank. The firm has “Neutral” rating given on Wednesday, August 12 by JP Morgan. RBC Capital Markets maintained Macy’s Inc (NYSE:M) on Friday, August 12 with “Sector Perform” rating. The rating was maintained by Deutsche Bank on Friday, August 12 with “Hold”. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, November 12. The company was maintained on Saturday, August 15 by Macquarie Research. Atlantic Securities upgraded Macy’s Inc (NYSE:M) on Thursday, September 10 to “Neutral” rating. Credit Suisse downgraded Macy’s Inc (NYSE:M) on Wednesday, September 28 to “Neutral” rating. The firm has “Market Perform” rating given on Thursday, May 12 by Telsey Advisory Group.
According to Zacks Investment Research, “Macy’s is one of the nation’s premier retailers, operating about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico, under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Prior to June 1, 2007, Macy’s was known as Federated Department Stores.”
More recent Macy’s Inc (NYSE:M) news were published by: Reuters.com which released: “BRIEF-Macy’s Inc board amended and restated Macy’s by-laws” on September 30, 2016. Also Businesswire.com published the news titled: “The Power of Pink Prevails at Macy’s In the Fight Against Breast Cancer” on October 03, 2016. Investorplace.com‘s news article titled: “Citigroup: Macy’s Inc (M) Could Have 27% Upside” with publication date: September 14, 2016 was also an interesting one.
M Company Profile
Macy’s, Inc., incorporated on December 13, 1985, is an omnichannel retail firm operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Firm sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods. The Company’s subsidiaries provide various support functions to its retail operations. The Company’s bank subsidiary, FDS Bank, provides credit processing, certain collections, customer service and credit marketing services in respect of various credit card accounts that are owned either by Department Stores National Bank (DSNB), a subsidiary of Citibank N.A., or FDS Bank and that constitutes a part of the credit programs of the Company’s retail operations. Macy’s Systems and Technology, Inc. (MST), a subsidiary of the Company, provides operational electronic data processing and management information services to all of the Company’s operations.
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