Shares of Macy’s, Inc. (M) have dropped -29.% since the company’s Apr-19 earnings report. Over the past 12 fiscal quarters, Macy’s, Inc. (NYSE:M) has topped consensus earnings estimates in 10 quarters (83%), missed earnings in 2 quarters (16%), whereas at 0 occasion EPS met analyst expectations. M last reported earnings on November 14, 2018 when it released Oct-18 results that exceeded expectations. The company raked in $0.27 per share, -99.72% change on the same period last year. That was better than consensus for $0.14. Revenue for the recent quarter stood at $5.4 billion, up 2% on last year and below the $5.4 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $5.45 billion to $5.6 billion, which should be compared with $5.15 billion generated last year. EPS is seen in a range of $0.32 to $0.49, against the $0.23 reported a year ago.
M’s 50 day simple moving average (SMA 50) price is $32.32 and its 200-day simple moving average (SMA 200) price is $34.28. The company’s stock currently has a total float of 306.55M shares. Its weekly volatility is hovering around 5.07% and felt 4.56% volatility in price over a month. On the upside, the share price will test short term resistance at around $26.38. On a downside, the stock is likely to find some support, which begins at $24.87. The failure to get near-term support could push it to $24.31.
Separately, it has been reported that multiple insider activity took place at Macy’s, Inc. (M). Director Lenehan William H acquired 3,154 shares for $11,214 in transaction occurred on 2018/11/16. After making this transaction, the Director owns a direct stake of 100,108 shares, worth $285,060, as per the last closing price. On 2018/11/16 Lawton Iii Harry A, President at M, dumped 200,000 shares at an average price of $33.09 per share. The selling total is valued at $661,886.
Chief Legal Officer, Garcia C Elisa D had divested 4,628 shares for $6,099 through a trade on 2018/09/21. Following this activity, the insider holds 165,914 shares worth $155,037 as of recent close. Wall Street’s most bullish Macy’s, Inc. (NYSE:M) analysts are predicting the share price to blow past $40 per share during the next 12 months. The current median share price forecast by them is $28, suggesting that the stock could increase 10.15% in that time frame. The average price target of $29.03 calls for a nearly 14.2% increase in the stock price.
It had seen a change in price target from analysts at Telsey Advisory Group, who reiterated the stock at Market Perform on January 11 but moved PT from $35 to $28. Analysts at Gordon Haskett, shed their positive views on January 10 by lowering it fromBuy to Hold. The stock lost favor of BofA/Merrill analysts who expressed their lack of confidence in it using a downgrade from Neutral to Underperform on January 10.
When looking at valuations, Macy’s, Inc. (M) has a cheap P/E of 7x as compared to industry average of 65.3x. Moreover, it trades for 7.66 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.38x price/book and 0.31x price/sales. Compared to others, Macy’s, Inc. is in a different league with regards to profitability, having net margins of 6.6%. To put some perspective around this, the industry’s average net margin is 4.56%. M’s ROE is 29.2%, which is also considerably better than the industry’s ROE of 13.67%. It’s also very liquid in the near term, with a current ratio of 1.3. The stock has a debt/capital of 0.98.
Macy’s, Inc. (NYSE:M) sank as low as $25.27 Friday before getting settled at $25.42. The -2.64 percent decrease called for market cap to move at $8.03B. The price went up as high as $25.27 before retreating. Trading activity significantly improved as the volume at ready counter increased to 20,267,900 shares versus 9,948,455 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 14,055,338 shares. The stock is now 13.13% above against its bear-market low of $22.47 on February 06, 2018. It has retreated -65.18% since it’s 52-week high of $41.99 reached in August. Now the market price is down -0.7% on the year and down -14.64% YTD.