Macy’s Inc (NYSE:M) shares, rose in value, with the stock price up by 0.92% to the previous day’s close as strong demand from buyers drove the stock to $18.58.
Actively observing the price movement in the last trading, the stock closed the session at $18.41. The value of beta (5-year monthly) was 2.19 whereas the PE ratio was 49.64 over 12-month period. Referring to stock’s 52-week performance, its high was $22.10, and the low was $10.54. On the whole, M has fluctuated by -7.19% over the past month.
With the market capitalization of Macy’s Inc currently standing at about $5.10 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 30, 2024 – Jun 03, 2024. The company’s Forward Dividend Ratio is 0.67, with its dividend yield at 3.61%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.14, which is expected to increase to $0.28 for fiscal year $2.65 and then to about $2.61 by fiscal year 2026. Data indicates that the EPS growth is expected to be -24.30% in 2026, while the next year’s EPS growth is forecast to be -1.50%.
Analysts have estimated the company’s revenue for the quarter at $4.85 billion, with a low estimate of $4.69 billion and a high estimate of $4.99 billion. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $22.81 billion, representing a decrease of -1.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that M’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 4.14, with the price of M currently trading nearly -8.47% and -4.81% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.99, while the 7-day volatility ratio is showing 2.47% which for the 30-day chart, stands at 3.22%. Furthermore, Macy’s Inc (M)’s beta value is 2.20, and its average true range (ATR) is 0.68.
A comparison of Macy’s Inc (M) with its peers suggests the former has fared considerably weaker in the market. M showed an intraday change of 0.92% in last session, and over the past year, it shrunk by -1.80%%.
Data on historical trading for Macy’s Inc (NYSE:M) indicates that the trading volumes over the past 10 days have averaged 7.03 million and over the past 3 months, they’ve averaged 8.41 million. According to company’s latest data on outstanding shares, there are 274.23 million shares outstanding.
Nearly 0.74% of Macy’s Inc’s shares belong to company insiders and institutional investors own 88.22% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.59 million shares as on Mar 15, 2024, resulting in a short ratio of 1.83. According to the data, the short interest in Macy’s Inc (M) stood at 6.78% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 17.16 million. The stock has fallen by -7.65% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the M stock heading into the next quarter.
