Macy's (M) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 35 from a previous price target of $42 . RBC Capital Mkts advised their investors in a research report released on May 12, 2016.
Many Wall Street Analysts have commented on Macy's. Shares were Reiterated by Telsey Advisory Group on May 12, 2016 to “Market Perform” and Lowered the Price Target to $ 36 from a previous price target of $44 .RBC Capital Mkts Initiated Macy's on May 4, 2016 to “Sector Perform”, Price Target of the shares are set at $42.Jefferies Initiated Macy's on Mar 14, 2016 to “Hold”, Price Target of the shares are set at $45.
On the company’s financial health, Macy's reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 11, 2016. Analyst had a consensus of $0.38. The company had revenue of $5771.00 million for the quarter, compared to analysts expectations of $5943.19 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.
Macy's closed down -0.75 points or -1.99% at $36.99 with 98,34,798 shares getting traded on Tuesday. Post opening the session at $37.25, the shares hit an intraday low of $36.91 and an intraday high of $37.83 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Mar 24, 2016, Terry J Lundgren (Chairman and CEO) sold 177,352 shares at $43.48 per share price. According to the SEC, on Mar 21, 2016, Molly Langenstein (Chief Private Brand Officer) sold 1,779 shares at $44.55 per share price. On Mar 21, 2016, Joel A Belsky (EVP and Controller) sold 3,599 shares at $44.55 per share price, according to the Form-4 filing with the securities and exchange commission.
Macy’s Inc. is an omnichannel retail company operating stores Websites (macys.com bloomingdales.com and bluemercury.com) and mobile. As of January 31 2015 the operations of the Company included 823 stores with an area of approximately 147400000 square feet in 45 states of the United States the District of Columbia Guam and Puerto Rico. Of these 823 stores 447 were owned 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macy’s Bloomingdale’s Bloomingdale’s Outlet and Bluemercury. The Company operates 13 Bloomingdale’s outlet stores. Bloomingdale’s in Dubai the United Arab Emirates is operated under a license agreement with Al Tayer Insignia a company of Al Tayer Group LLC.