Macy’s Inc. (NYSE:M) price on Thursday, August 26, fall -4.45% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $22.54.
A look at the stock’s price movement, the close in the last trading session was $23.59, moving within a range at $22.4301 and $23.42. The beta value (5-Year monthly) was 2.12 while the PE ratio in trailing twelve months stood at 13.85. Turning to its 52-week performance, $23.76 and $5.57 were the 52-week high and 52-week low respectively. Overall, M moved 34.73% over the past month.
Macy’s Inc.’s market cap currently stands at around $6.78 billion, with investors looking forward to this quarter’s earnings report slated for Aug 31, 2021 – Sep 06, 2021. The company has a Forward Dividend ratio of 0.60, with its dividend yield at 2.66%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.14, which has seen fiscal year 2022 EPS growth forecast to increase to $2.24 and about $2.17 for fiscal year 2023. Per the data, EPS growth is expected to be 201.40% for 2021 and -3.10% for the next financial year.
Analysts have a consensus estimate of $4.98 billion for the company’s revenue for the quarter, with a low and high estimate of $4.83 billion and $5.13 billion respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $22.12 billion, representing a 27.50% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 2 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that M is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
17 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 9 analyst(s) rate the stock as a Hold, 1 recommend M as a Buy and 0 give it an Overweight rating. Meanwhile, 3 analyst(s) rate the stock as Underweight and 4 say it is a Sell. As such, the average rating for the stock is Underweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
M’s current price about 16.86% and 21.63% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.26, while 7-day volatility ratio is 5.76% and 5.61% in the 30-day chart. Further, Macy’s Inc. (M) has a beta value of 2.09, and an average true range (ATR) of 1.17. Analysts have given the company’s stock an average 52-week price target of $22.46, forecast between a low of $15.00 and high of $27.00. Looking at the price targets, the low is 33.45% off current price level while to achieve the yearly target high, price needs to move -19.79%. Nonetheless, investors will most likely welcome a -2.04% jump to $23.00 which is the analysts’ median price.
In the market, a comparison of Macy’s Inc. (M) and its peers suggest the former has performed considerably weaker. Data shows M’s intraday price has changed -4.45% in last session and 246.24% over the past year. Comparatively, Dillard’s Inc. (DDS) has moved -2.63% on the day and only 604.89% in the past 12 months. Moreover, The TJX Companies Inc. (TJX) is also down -2.60% in trading on the day while keeping a an uptrend of 38.64% over the past year. If we look at the PE ratio, we find that Macy’s Inc.’s ratio stands at 13.85 compared to Dillard’s Inc.’s 9.69. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.58% and -0.54% respectively in the last trading.
If we refocus on Macy’s Inc. (NYSE:M), historical trading data shows that trading volumes averaged 44.68 million over the past 10 days and 16.47 million over the past 3 months. The company’s latest data on shares outstanding shows there are 311.60 million shares.
The 0.10% of Macy’s Inc.’s shares are in the hands of company insiders while institutional holders own 89.00% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 43.11 million on Jun 14, 2021, giving us a short ratio of 2.48. The data shows that as of Jun 14, 2021 short interest in Macy’s Inc. (M) stood at 13.82% of shares outstanding, with shares short rising to 35.0 million registered in May 13, 2021. Current price change has pushed the stock 100.36% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the M stock continues to rise going into the next quarter.