The stock of Macy’s Inc (NYSE:M) is a huge mover today! About 2.48 million shares traded hands. Macy’s Inc (NYSE:M) has risen 3.94% since April 28, 2016 and is uptrending. It has underperformed by 1.98% the S&P500.
The move comes after 8 months positive chart setup for the $13.18B company. It was reported on Dec, 1 by Barchart.com. We have $44.73 PT which if reached, will make NYSE:M worth $527.20 million more.
Analysts await Macy’s Inc (NYSE:M) to report earnings on February, 28. They expect $2.18 earnings per share, up 4.31% or $0.09 from last year’s $2.09 per share. M’s profit will be $668.04M for 4.93 P/E if the $2.18 EPS becomes a reality. After $0.17 actual earnings per share reported by Macy’s Inc for the previous quarter, Wall Street now forecasts 1,182.35% EPS growth.
Macy’s Inc (NYSE:M) Ratings Coverage
Out of 27 analysts covering Macy’s Inc. (NYSE:M), 5 rate it a “Buy”, 1 “Sell”, while 21 “Hold”. This means 19% are positive. Macy’s Inc. has been the topic of 63 analyst reports since July 24, 2015 according to StockzIntelligence Inc. As per Thursday, May 12, the company rating was maintained by Telsey Advisory Group. The company was maintained on Monday, March 14 by Jefferies. The company was maintained on Thursday, November 12 by Morgan Stanley. The rating was maintained by UBS on Friday, August 12 with “Neutral”. The firm earned “Equal-Weight” rating on Thursday, May 12 by Morgan Stanley. Barclays Capital maintained Macy’s Inc (NYSE:M) on Wednesday, February 24 with “Underweight” rating. The firm earned “Sell” rating on Tuesday, July 28 by Gilford Securities. Stifel Nicolaus maintained the shares of M in a report on Thursday, November 12 with “Buy” rating. The firm has “Neutral” rating given on Wednesday, September 28 by Credit Suisse. The rating was downgraded by Northcoast to “Neutral” on Thursday, May 12.
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: Investorplace.com which released: “Buy Macy’s Inc (M) Stock for Some Christmas Cheer” on November 29, 2016. Also Fool.com published the news titled: “1 Big Difference Between Sears and Macy’s, Inc.” on November 06, 2016. Seekingalpha.com‘s news article titled: “Time To Exit Macy’s?” with publication date: December 01, 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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