Macy’s Inc [NYSE: M] plunged by -$0.62 during the normal trading session on while it closed the day at $18.96. The company report on February 8, 2024 at 9:00 AM that Macy’s Introduces State of Day – a New Restwear, Sleepwear and Innerwear Brand.
State of Day is the latest brand to launch as part of the company’s reimagined private brands portfolio.
Today, Macy’s announces the launch of State of Day, a new restwear, sleepwear and innerwear brand, an exciting addition to the company’s ongoing reimagined private brands portfolio. State of Day helps women feel more comfortable and relaxed at home, whether that’s sleeping, drinking coffee, chasing kids, or just relaxing. The collection embodies that perfect, happy-sigh feeling – from light, easy-to-layer pieces to deliciously soft pajamas for a restorative sleep. State of Day is designed to take the busy woman from sunrise to slumber and all the little moments in between. The collection is now available on macys.com, Macy’s mobile app and Macy’s stores nationwide.
Macy’s Inc stock has also gained 1.72% of its value over the past 7 days. However, M stock has inclined by 72.83% in the 3 months of the year. Over the past six months meanwhile, it has gained 21.23% and lost -5.77% year-on date.
The market cap for M stock reached $5.20 billion, with 274.07 million shares outstanding and 272.36 million shares in the current float. Compared to the average trading volume of 0.64 shares, M reached a trading volume of 7931668 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Macy’s Inc [M]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for M shares is $18.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on M stock is a recommendation set at 2.67. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Macy’s Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 02, 2024.
The Average True Range (ATR) for Macy’s Inc is set at 0.62, with the Price to Sales ratio for M stock in the period of the last 12 months amounting to 0.22. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 1.33. Price to Free Cash Flow for M in the course of the last twelve months was 9.16 with Quick ratio for the last quarter at 0.17.
M stock trade performance evaluation
Macy’s Inc [M] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.72. With this latest performance, M shares gained by 2.27% in over the last four-week period, additionally plugging by 21.23% over the last 6 months – not to mention a drop of -14.21% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for M stock in for the last two-week period is set at 53.73, with the RSI for the last a single of trading hit 53.28, and the three-weeks RSI is set at 54.90 for Macy’s Inc [M]. The present Moving Average for the last 50 days of trading for this stock 18.82, while it was recorded at 19.08 for the last single week of trading, and 15.14 for the last 200 days.
Macy’s Inc [M]: An insightful look at the core fundamentals
Macy’s Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.17 and a Current Ratio set at 1.18.
Earnings per share (EPS) analysis for Macy’s Inc [M] stock
With the latest financial reports released by the company, Macy’s Inc posted 1.71/share EPS, while the average EPS was predicted by analysts to be reported at 1.57/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for M. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Macy’s Inc go to 12.00%.
Macy’s Inc [M]: Institutional Ownership
The top three institutional holders of M stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in M stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in M stock with ownership which is approximately 5.8325%.
