In the latest trading session, 1.88 million Macy’s Inc (NYSE:M) shares changed hands as the company’s beta touched 2.17. With the company’s most recent per share price at $19.75 changing hands around $0.67 or 3.51% at last look, the market valuation stands at $5.42B. M’s current price is a discount, trading about -11.9% off its 52-week high of $22.10. The share price had its 52-week low at $10.54, which suggests the last value was 46.63% up since then. When we look at Macy’s Inc’s average trading volume, we note the 10-day average is 7.95 million shares, with the 3-month average coming to 8.35 million.
Macy’s Inc (NYSE:M) trade information
Instantly M is in green as seen in intraday trades today. With action -6.84%, the performance over the past five days has been red. The jump to weekly highs of 21.31 added 3.51% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.84%, with the 5-day performance at -6.84% in the red. However, in the 30-day time frame, Macy’s Inc (NYSE:M) is -1.00% down. Looking at the short shares, we see there were 18.08 million shares sold at short interest cover period of 2.28 days.
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 82.20% over the past 6 months, a -26.57% in annual growth rate that is considerably lower than the industry average of -22.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Macy’s Inc will fall -75.00%, while the growth in revenue is estimated to hit -23.10% for the next quarter. Year-over-year growth is forecast to reach -1.20% down from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $4.85 billion. 7 analysts are of the opinion that Macy’s Inc’s revenue for the quarter ending Jul 2024 will be $5.09 billion.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -36.16%. The 2024 estimates are for Macy’s Inc earnings to decrease by -25.63%, 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 May 30 and June 03. The 3.39% annual yield figure for the share gives it an annual dividend of 0.67. It is important to note, however, that the 3.39% 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 0.69% of Macy’s Inc shares while 89.44% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.06%. There are 89.44% institutions holding the Macy’s Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 12.33% of the shares, roughly 33.74 million M shares worth $541.46 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.06% or 24.8 million shares worth $397.99 million as of Jun 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 $98.96 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 $135.73 million.
