Macy’s Inc (NYSE: M) Defies Bearish Expectations and Displays Strong Future Potential

In the latest trading session, 1.51 million Macy’s Inc (NYSE:M) shares changed hands as the company’s beta touched 2.20. With the company’s most recent per share price at $18.58 changed hands at -$1.0 or -5.11% at last look, the market valuation stands at $5.09B. M’s current price is a discount, trading about -24.81% off its 52-week high of $23.19. The share price had its 52-week low at $10.54, which suggests the last value was 43.27% up since then. When we look at Macy’s Inc’s average trading volume, we note the 10-day average is 5.43 million shares, with the 3-month average coming to 0.80.

Macy’s Inc (NYSE:M) trade information

Instantly M was in red as seen in intraday trades today. With action -0.32%, the performance over the past five days has been red. The drop to weekly highs of 19.68 subtracted -5.11% to the stock’s daily price. The company’s shares are showing year-to-date downside of -7.65%, with the 5-day performance at -0.32% in the red. However, in the 30-day time frame, Macy’s Inc (NYSE:M) is 0.22% up. Looking at the short shares, we see there were 20.56 million shares sold at short interest cover period of 2.41 days.

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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 18.80% over the past 6 months, a -31.70% in annual growth rate that is considerably lower than the industry average of -23.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 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 -17.90% for the next quarter. Year-over-year growth is forecast to reach -4.60% down from the last financial year.

Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $8.15 billion. 6 analysts are of the opinion that Macy’s Inc’s revenue for the quarter ending Apr 2024 will be $4.94 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 -1.40%.

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 2024 estimates are for Macy’s Inc earnings to decrease by -32.37%, but the outlook for the next 5-year period is at 12.00% per year.

M Dividends

Macy’s Inc is expected to release its next quarterly earnings report between February 29 and March 04. The 3.56% annual yield figure for the share gives it an annual dividend of 0.66. It is important to note, however, that the 3.56% 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.

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