Today Jefferies Reaffirms a “Hold” Rating on Macy’s Inc (NYSE:M) and a $21.0 Target Price

September 17, 2017 - By Adrian Mccoy

 Today Jefferies Reaffirms a

Macy’s Inc (NYSE:M) Rating Reaffirmed

In a research report revealed on 11 September, The “Hold” rating of Macy’s Inc (NYSE:M) shares was reaffirmed by Analysts at Jefferies, who now has a $21.0 target price on the stock. Jefferies’s target price gives a possible downside of -7.00 % from the previous stock close of the company.

Macy’s Inc (NYSE:M) Ratings Coverage

Among 31 analysts covering Macy’s Inc. (NYSE:M), 7 have Buy rating, 1 Sell and 23 Hold. Therefore 23% are positive. Macy’s Inc. has $139.0 highest and $21.0 lowest target. $42.19’s average target is 86.85% above currents $22.58 stock price. Macy’s Inc. had 87 analyst reports since July 24, 2015 according to SRatingsIntel. The rating was downgraded by Northcoast on Thursday, May 12 to “Neutral”. The stock has “Buy” rating by Standpoint Research on Monday, August 24. The rating was maintained by Stifel Nicolaus on Friday, August 14 with “Buy”. The firm earned “Negative” rating on Wednesday, November 4 by OTR Global. The firm has “Buy” rating given on Thursday, November 12 by Stifel Nicolaus. Citigroup upgraded Macy’s Inc (NYSE:M) on Wednesday, September 14 to “Buy” rating. The rating was maintained by Barclays Capital with “Underweight” on Thursday, November 12. Morgan Stanley maintained Macy’s Inc (NYSE:M) on Thursday, May 12 with “Equal-Weight” rating. The stock of Macy’s Inc (NYSE:M) earned “Sell” rating by Deutsche Bank on Monday, August 17. The rating was upgraded by Gilford Securities to “Neutral” on Wednesday, September 9.

The stock increased 2.64% or $0.58 on September 15, reaching $22.58. About 16.29M shares traded or 53.53% up from the average. Macy’s Inc (NYSE:M) has declined 25.46% since September 17, 2016 and is downtrending. It has underperformed by 42.16% the S&P500.

Investors wait Macy’s Inc (NYSE:M) to report on November, 9. its quarterly earnings Wall Street analysts expect $0.19 EPS, up $0.02 or 11.76 % from last year’s $0.17 same quarter earnings. This translates into $57.89M profit for M giving the stock a 29.71 P/E. This is assuming the current $0.19 EPS is accurate. Macy’s Inc’s Wall Street analysts see -60.42 % negative EPS growth, taking into account the $0.48 EPS reproted in the previous quarter,

Macy’s, Inc. is an omnichannel retail firm operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The company has market cap of $6.88 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 10.23 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.

More notable recent Macy’s Inc (NYSE:M) news were published by: Nasdaq.com which released: “Macy’s Inc (M) Ex-Dividend Date Scheduled for September 14, 2017” on September 13, 2017, also Nasdaq.com with their article: “Macy’s, Inc. Completes Another Big Real Estate Deal — but It’s Not the Next Sears” published on September 09, 2017, Fool.com published: “Macy’s completes another deal” on September 09, 2017. More interesting news about Macy’s Inc (NYSE:M) were released by: Fool.com and their article: “Why Macy’s Inc. Stock Popped Today” published on August 22, 2017 as well as Nasdaq.com‘s news article titled: “Should Value Investors Consider Macy’s Inc. (M) Stock Now?” with publication date: September 14, 2017.

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