Last Updated: 17 Sep 2024
Executive Summary
Macy's Inc. (NYSE: M) is a leading omnichannel retailer with a market capitalization of $4.16 billion. The company has been facing challenges in recent years due to the shift towards online shopping and increased competition from discount retailers. However, Macy's has taken steps to address these challenges, including investing in its e-commerce platform and expanding its loyalty program. As a result, the company's financial performance has improved in recent quarters, and analysts are optimistic about its long-term prospects.
Company Overview
Macy's was founded in 1858 and is headquartered in New York City. The company operates over 700 stores across the United States, including the iconic Macy's Herald Square flagship store in Manhattan. Macy's also operates websites and mobile apps for its Macy's, Bloomingdale's, and Bluemercury brands.
Fundamental Analysis
Macy's financial performance has been mixed in recent years. The company's revenue has declined in each of the past three years, and its net income has been volatile. However, Macy's has taken steps to improve its financial performance, including reducing costs and investing in its e-commerce platform. As a result, the company's financial performance has improved in recent quarters.
In the most recent quarter, Macy's reported revenue of $23.51 billion, a 0.035% decrease year-over-year. Net income was $193.7 million, a 0.607% decrease year-over-year. Diluted EPS was $0.65, a 0.607% decrease year-over-year.
Technical Analysis
Macy's stock price has been trending lower in recent years. The stock hit a 52-week high of $21.64 in January 2023, but has since declined to $14.95. The stock is currently trading below its 50-day and 200-day moving averages.
Short Term Outlook
Analysts are mixed on Macy's short-term outlook. Some analysts believe that the stock is undervalued and could rebound in the near term. Other analysts believe that the stock could continue to decline in the short term due to the challenges facing the retail sector.
Long Term Outlook
Analysts are more optimistic about Macy's long-term outlook. The company has a strong brand and a loyal customer base. Macy's is also taking steps to address the challenges facing the retail sector, including investing in its e-commerce platform and expanding its loyalty program. As a result, analysts believe that Macy's is well-positioned for long-term growth.
Analyst Recommendations
The consensus analyst recommendation for Macy's is "Hold". Three analysts recommend "Buy", ten analysts recommend "Hold", and one analyst recommends "Sell". The average analyst target price is $17.18.
