Macy’s Inc (NYSE:M) price on current trading day, rose 1.74% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $14.03.
A look at the stock’s price movement, the level at last check in today’s session was $13.79, moving within a range at $13.7601 and $14.12. The beta value (5-Year monthly) was 2.148 while the PE ratio in trailing twelve months stood at 23.60. Turning to its 52-week performance, $22.10 and $13.66 were the 52-week high and 52-week low respectively. Overall, M moved -15.28% over the past month.
Macy’s Inc’s market cap currently stands at around $3.90 billion, with investors looking forward to this quarter’s earnings report slated for in February. The company has a Forward Dividend ratio of 0.69, with its dividend yield at 4.95%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 7.8B for the company’s revenue for the quarter, with a low and high estimate of 7.68B and 7.91B respectively. The average forecast suggests down to a -3.92% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 22.33B, representing a -3.32% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that M is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
13 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 6 analyst(s) rate the stock as a Hold, 6 recommend M as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
M’s current price about -12.83% and -12.33% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.25, while 7-day volatility ratio is 5.29% and 4.56% in the 30-day chart. Further, Macy’s Inc (M) has a beta value of 2.11, and an average true range (ATR) of 0.72. Analysts have given the company’s stock an average 52-week price target of $17, forecast between a low of $17 and high of $17. Looking at the price targets, the low is -21.17% off recent price level in today’s trading while to achieve the yearly target high, it has to move -21.17%. Nonetheless, investors will most likely welcome a -21.17% jump to $17 which is the analysts’ median price.
If we refocus on Macy’s Inc (NYSE:M), historical trading data shows that trading volumes averaged 8.66 over the past 10 days and 6.70 million over the past 3 months. The company’s latest data on shares outstanding shows there are 277.64 million shares.
The 0.75% of Macy’s Inc’s shares are in the hands of company insiders while institutional holders own 76.08% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 15.89 million on 2024-11-29, giving us a short ratio of 2.65. The data shows that as of 2024-11-29 short interest in Macy’s Inc (M) stood at 655.0000000000001 of shares outstanding, with shares short rising to 14.98 million registered in 2024-10-31. Current price change has pushed the stock -17.13% 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.
