During the last session, Macy’s Inc. (NYSE:M)’s traded shares were 14.16 million, with the beta value of the company hitting 2.12. At the end of the trading day, the stock’s price was $17.58, reflecting an intraday gain of 4.27% or $0.72. The 52-week high for the M share is $22.30, that puts it down -26.85 from that peak though still a striking 68.32% gain since the share price plummeted to a 52-week low of $5.57. The company’s market capitalization is $5.68B, and the average intraday trading volume over the past 10 days was 12.65 million shares, and the average trade volume was 14.74 million shares over the past three months.
Macy’s Inc. (M) received a consensus recommendation of an Underweight from analysts. That translates to a mean rating of 3.40. M has a Sell rating from 5 analyst(s) out of 17 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 2 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.13.
Macy’s Inc. (NYSE:M) trade information
Macy’s Inc. (M) registered a 4.27% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 4.27% in intraday trading to $17.58 this Wednesday, 07/21/21, hitting a weekly high. The stock’s 5-day price performance is -2.60%, and it has moved by -3.30% in 30 days. Based on these gigs, the overall price performance for the year is 158.53%. The short interest in Macy’s Inc. (NYSE:M) is 43.11 million shares and it means that shorts have 2.48 day(s) to cover.
The consensus price target of analysts on Wall Street is $19.23, which implies an increase of 8.58% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $14.00 and $27.00 respectively. As a result, M is trading at a discount of -53.58% off the target high and 20.36% off the low.
Macy’s Inc. (M) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 116.00% this quarter and then jump 94.70% in the quarter after that. In the rating firms’ projections, revenue will increase 27.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $4.96 billion as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $4.73 billion by the end of Oct 2021.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -43.80%. While earnings are projected to return -836.30% in 2021, the next five years will return -11.82% per annum.
Macy’s Inc. is due to release its next quarterly earnings between August 31 and September 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Macy’s Inc. (NYSE:M)’s Major holders
Macy’s Inc. insiders own 0.14% of total outstanding shares while institutional holders control 83.67%, with the float percentage being 83.78%. Blackrock Inc. is the largest shareholder of the company, while 492 institutions own stock in it. As of Mar 30, 2021, the company held over 45.65 million shares (or 14.64% of all shares), a total value of $739.03 million in shares.
The next largest institutional holding, with 32.58 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.45% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $527.53 million.
Also, the Mutual Funds coming in first place with the largest holdings of Macy’s Inc. (M) shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. Data provided on May 30, 2021 indicates that iShares Core S&P Smallcap ETF owns about 19.57 million shares. This amounts to just over 6.28 percent of the company’s overall shares, with a $357.81 million market value. The same data shows that the other fund manager holds slightly less at 8.79 million, or about 2.82% of the stock, which is worth about $142.34 million.