Macy’s Inc [M] Is Currently -2.80 below its 200 Period Moving Avg: What Does This Mean?

Macy’s Inc [NYSE: M] loss -2.80% or -0.55 points to close at $19.08 with a heavy trading volume of 7153375 shares. The company report on March 18, 2024 at 10:00 AM that Spring Blossoms at the Macy’s Flower Show ®.

Macy’s Flower Show featuring Christian Dior Parfums will engage and inspire the senses at Macy’s Herald Square from Sunday, March 24 through Sunday, April 7.

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Immersive gardens with blooming flowers and multi-sensory mise en scene will bloom at the 49th Macy’s Flower Show featuring Christian Dior Parfums. In celebration of spring’s arrival, the main floor, balcony, and iconic Broadway windows of Macy’s world-famous flagship store in New York City Herald Square will transform into a breathtaking botanical experience from Sun., March 24, 2024, to Sun., April 7, 2024. The Macy’s Flower Show is free and open to the public during store hours.

The daily chart for M points out that the company has recorded 71.74% gains over the past six months.

If we look at the average trading volume of 8.35M shares, M reached to a volume of 7153375 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $20.36 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 2.80. 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.

TD Cowen have made an estimate for Macy’s Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on February 29, 2024. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price from $15 to $21. The new note on the price target was released on February 28, 2024, representing the official price target for Macy’s Inc stock. Previously, the target price had yet another raise from $14 to $18, while Citigroup kept a Neutral rating on M stock.

The Average True Range (ATR) for Macy’s Inc is set at 0.78, 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 1.26, with the Price to Cash per share for the same quarter was set at 3.77. Price to Free Cash Flow for M in the course of the last twelve months was 7.76 with Quick ratio for the last quarter at 0.39.

Trading performance analysis for M stock

Macy’s Inc [M] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.42. With this latest performance, M shares dropped by -1.14% in over the last four-week period, additionally plugging by 71.74% over the last 6 months – not to mention a rise of 12.63% 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 41.73, with the RSI for the last a single of trading hit 33.82, and the three-weeks RSI is set at 45.93 for Macy’s Inc [M]. The present Moving Average for the last 50 days of trading for this stock 19.37, while it was recorded at 20.19 for the last single week of trading, and 15.84 for the last 200 days.

Macy’s Inc [M]: A deeper dive into fundamental analysis

Macy’s Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.39 and a Current Ratio set at 1.37.

Macy’s Inc [M]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Macy’s Inc posted 0.56/share EPS, while the average EPS was predicted by analysts to be reported at 0.45/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.40%. 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%.

An analysis of Institutional ownership at Macy’s Inc [M]

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%.