Neutral Media Coverage Extremely Likely to Affect Macy’s (M) Stock Price

News stories about Macy’s (NYSE:M) have been trending neutral this week, InfoTrie Sentiment reports. InfoTrie ranks the sentiment of media coverage by monitoring more than 6,000 blog and news sources in real-time. The firm ranks coverage of companies on a scale of negative five to five, with scores closest to five being the most favorable. Macy’s earned a coverage optimism score of 0.50 on their scale. InfoTrie also assigned media headlines about the company an news buzz score of 10 out of 10, meaning that recent media coverage is extremely likely to have an effect on the stock’s share price in the near term.

Here are some of the news stories that may have effected Macy’s’ score:

Several research analysts have issued reports on the company. Zacks Investment Research cut Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Standpoint Research cut Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Morgan Stanley raised their target price on Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Thursday, August 16th. Royal Bank of Canada set a $39.00 target price on Macy’s and gave the stock a “hold” rating in a research report on Thursday, August 16th. Finally, Deutsche Bank raised their target price on Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 16th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.91.

Shares of M stock traded up $1.03 during trading hours on Friday, reaching $33.30. 15,263,682 shares of the company traded hands, compared to its average volume of 9,313,891. Macy’s has a 12-month low of $20.11 and a 12-month high of $41.99. The company has a quick ratio of 0.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.93. The stock has a market cap of $10.99 billion, a P/E ratio of 8.83, a PEG ratio of 1.07 and a beta of 0.62.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.13. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the firm earned $0.23 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Macy’s will post 3.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a dividend of $0.3775 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.53%. Macy’s’s payout ratio is currently 40.05%.

In other news, President Harry A. Lawton III sold 28,684 shares of Macy’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $36.05, for a total transaction of $1,034,058.20. Following the transaction, the president now directly owns 54,722 shares of the company’s stock, valued at approximately $1,972,728.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider C Elisa D. Garcia sold 4,628 shares of Macy’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $35.85, for a total value of $165,913.80. Following the transaction, the insider now directly owns 10,727 shares in the company, valued at $384,562.95. The disclosure for this sale can be found here. 2.36% of the stock is owned by insiders.

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About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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