In the last trading session, Macy’s Inc (M) saw significant trading activity, with 9.1 million shares changing hands. The company’s beta, a measure of its volatility compared to the market, is 1.95. During the last session, Macy’s stock traded at $11.15 per share, experiencing a small increase of $0.08 or 0.72%. This puts the company’s market valuation at $3.05 billion. However, Macy’s stock is currently trading at a discount of -125.29% off its 52-week high of $25.12. On the positive side, the stock has increased by 4.39% since reaching its 52-week low of $10.66.
Analysts have given Macy’s Inc a consensus recommendation rating of “Overweight” with a mean rating of 2.31. Out of 16 analysts, 1 rates the stock as a Sell, 8 recommend it as a Hold, 6 consider it a Buy, and 1 rates it as Underweight.
Over the past five days, Macy’s Inc has seen a negative performance, with a decrease of -2.36%. However, on Tuesday, October 10th, the stock reached weekly highs of $11.71, adding 0.72% to its daily price. Year-to-date, Macy’s shares have declined by -46.00%.
Looking at the company’s estimates and forecasts, Macy’s Inc has not performed as well as its peers within the industry. The stock has decreased by -39.47% over the past 6 months with an annual growth rate of -37.28%, which is significantly lower than the industry average of -27.60%. Analysts have also lowered their expectations for the company’s fiscal year 2023 revenue, predicting a -100.00% decrease in current quarter revenue and a 13.50% growth for the next quarter. Year-over-year growth is forecasted to reach -5.50%, down from the previous financial year.
Consensus estimates from 10 analysts project Macy’s Inc’s revenue for the current quarter to reach an average of $4.81 billion. For the quarter ending January 2024, analysts estimate revenue to be $8.04 billion. However, the estimates for the next quarter show a decrease in growth at -2.70%.
When it comes to dividends, Macy’s Inc is expected to release its next quarterly earnings report between November 15th and November 20th. The stock currently offers an annual dividend yield of 5.94%, equivalent to a dividend of $0.66 per share. Investors should consider this dividend yield as a guide and take into account other aspects of the company’s operations and fundamentals before making any investment decisions.
In terms of major shareholders, insiders hold 0.59% of Macy’s Inc shares, while institutional holders own 83.80%. Vanguard Group Inc is the top institutional holder, with 12.33% of the shares held. Blackrock Inc. holds the second-largest percentage with 9.06% of outstanding shares. Among Mutual Funds, iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund are the top holders, with 3.21% and 3.09% of the shares respectively.
Overall, the performance of Macy’s Inc stock has been mixed, with recent declines offset by positive estimates for future revenue growth. Investors should carefully evaluate the company’s performance and consider the opinions of market analysts before making any investment decisions.
Definitions:
– Beta: Beta is a measure of a stock’s volatility compared to the market as a whole. A beta above 1 indicates the stock is more volatile than the market, while a beta below 1 suggests lower volatility.
– Revenue: Revenue is the income generated by a company from its core business operations.
– Dividend: A dividend is a payment made to shareholders by a company as a share of its profits.
– Institutional holders: Institutional holders refer to organizations such as investment firms, mutual funds, and pension funds that own a significant number of shares in a company, often in large blocks.
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