In the latest trading session, 6.2 million Macy’s Inc. (NYSE:M) shares changed hands as the company’s beta touched 2.16. With the company’s most recent per share price at $20.86 changed hands at -$0.23 or -1.07% at last look, the market valuation stands at $6.85B. M’s current price is a discount, trading about -13.9% off its 52-week high of $23.76. The share price had its 52-week low at $5.57, which suggests the last value was 73.3% up since then. When we look at Macy’s Inc.’s average trading volume, we note the 10-day average is 15.55 million shares, with the 3-month average coming to 16.45 million.
Analysts gave the Macy’s Inc. (M) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.40. If we narrow down to specifics, the data shows that 4 out of 17 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 9 recommended M as a Hold, 2 felt it is a Buy and 2 rated the stock as Underweight. Macy’s Inc.’s EPS for the current quarter is expected to be $0.26.
Macy’s Inc. (NYSE:M) trade information
Instantly M was in red as seen in intraday trades today. With action -2.90%, the performance over the past five days has been red. The drop to weekly highs of 22.01 on Monday, 09/13/21 subtracted -1.07% to the stock’s daily price. The company’s shares are showing year-to-date upside of 87.47%, with the 5-day performance at -2.90% in the red. However, in the 30-day time frame, Macy’s Inc. (NYSE:M) is 9.27% up. Looking at the short shares, we see there were 43.11 million shares sold at short interest cover period of 2.48 days.
The consensus price target for the stock as assigned by Wall Street analysts is $22.77, meaning bulls need an upside of 8.39% from its recent market value. According to analyst projections, M’s forecast low is $15.00 with $27.00 as the target high. To hit the forecast high, the stock’s price needs a -29.43% plunge from its current level, while the stock would need to tank 28.09% for it to hit the projected low.
Macy’s Inc. (M) estimates and forecasts
Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Macy’s Inc. will rise 236.80%, while the growth in revenue is estimated to hit 128.80% for the next quarter. Year-over-year growth is forecast to reach 36.30% up from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $5.12 billion. 11 analysts are of the opinion that Macy’s Inc.’s revenue for the quarter ending Jan 2022 will be $8.15 billion. The estimates for the next quarter sales put growth at 20.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -43.80%. The 2021 estimates are for Macy’s Inc. earnings to decrease by -836.30%, but the outlook for the next 5-year period is at -11.82% per year.
Macy’s Inc. is expected to release its next quarterly earnings report between November 17 and November 22. The 2.84% annual yield figure for the share gives it an annual dividend of 0.60. It is important to note, however, that the 2.84% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Macy’s Inc. (NYSE:M)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.14% of Macy’s Inc. shares while 83.67% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.78%. There are 83.67% institutions holding the Macy’s Inc. stock share, with Blackrock Inc. the top institutional holder. As of Mar 30, 2021, the company held 14.64% of the shares, roughly 45.65 million M shares worth $739.03 million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 10.45% or 32.58 million shares worth $527.53 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of May 30, 2021 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 19.57 million shares estimated at $357.81 million under it, the former controlled 6.28% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.82% of the shares, roughly 8.79 million shares worth around $142.34 million.