Is Macy’s Inc (NYSE: M) a Risk-Worthy Bet for Bold Investors?

In the latest trading session, 4.62 million Macy’s Inc (NYSE:M) shares changed hands as the company’s beta touched 1.97. With the company’s most recent per share price at $14.44 changed hands at -$0.52 or -3.44% at last look, the market valuation stands at $3.95B. M’s current price is a discount, trading about -73.96% off its 52-week high of $25.12. The share price had its 52-week low at $10.54, which suggests the last value was 27.01% up since then. When we look at Macy’s Inc’s average trading volume, we note the 10-day average is 21.67 million shares, with the 3-month average coming to 13.01 million.

Analysts gave the Macy’s Inc (M) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.41. If we narrow down to specifics, the data shows that 1 out of 17 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 8 recommended M as a Hold, 6 felt it is a Buy and 1 rated the stock as Underweight. Macy’s Inc’s EPS for the current quarter is expected to be $1.96.

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Macy’s Inc (NYSE:M) trade information

Instantly M was in red as seen in intraday trades today. With action 23.15%, the performance over the past five days has been green. The drop to weekly highs of 15.12 on Monday, 11/20/23 subtracted -3.44% to the stock’s daily price. The company’s shares are showing year-to-date downside of -30.05%, with the 5-day performance at 23.15% in the green. However, in the 30-day time frame, Macy’s Inc (NYSE:M) is 27.61% up. Looking at the short shares, we see there were 31.62 million shares sold at short interest cover period of 3.56 days.

The consensus price target for the stock as assigned by Wall Street analysts is $14.83, meaning bulls need an upside of 2.63% from its recent market value. According to analyst projections, M’s forecast low is $11.00 with $19.00 as the target high. To hit the forecast high, the stock’s price needs a -31.58% plunge from its current level, while the stock would need to tank 23.82% for it to hit the projected low.

Macy’s Inc (M) estimates and forecasts

Data shows that the Macy’s Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -2.20% over the past 6 months, a -34.60% in annual growth rate that is considerably lower than the industry average of -25.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Macy’s Inc will rise 14.60%, while the growth in revenue is estimated to hit -26.80% for the next quarter. Year-over-year growth is forecast to reach -4.70% down 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 $8.13 billion. 6 analysts are of the opinion that Macy’s Inc’s revenue for the quarter ending Apr 2024 will be $4.91 billion. The company’s revenue for the corresponding quarters a year ago was $8.26 billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -1.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -3.88%. The 2023 estimates are for Macy’s Inc earnings to decrease by -33.10%, but the outlook for the next 5-year period is at -10.09% per year.

M Dividends

Macy’s Inc is expected to release its next quarterly earnings report on November 16. The 4.58% annual yield figure for the share gives it an annual dividend of 0.66. It is important to note, however, that the 4.58% 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 0.59% of Macy’s Inc shares while 83.80% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 84.30%. There are 83.80% institutions holding the Macy’s Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 13.30% of the shares, roughly 36.38 million M shares worth $528.62 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.47% or 25.9 million shares worth $376.37 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 8.52 million shares estimated at $123.85 million under it, the former controlled 3.11% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.09% of the shares, roughly 8.46 million shares worth around $122.88 million.

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