News articles about Macy’s (NYSE:M) have trended extremely negative on Sunday, InfoTrie reports. The research group identifies positive and negative news coverage by analyzing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Macy’s earned a coverage optimism score of -4.07 on their scale. InfoTrie also assigned news stories about the company an news buzz score of 10 out of 10, indicating that recent news coverage is extremely likely to have an effect on the stock’s share price in the next several days.
Here are some of the headlines that may have effected Macy’s’ analysis:
- Macy's Expects a $1 Billion Quarterly Operating Loss: Should Investors Flee? (finance.yahoo.com)
- Macy’s Loses $1 Billion In First Quarter Of 2020 – CBS New York (newyork.cbslocal.com)
- Boardman student helps Macy’s reopen with chalk drawings – WKBN.com (wkbn.com)
- Macy’s to reopen most Hawaii locations for in-store shopping – San Francisco Chronicle (sfchronicle.com)
- Macy’s Memorial Day sale has epic deals on Le Creuset, Instant Pot and more favorite brands – AOL (aol.com)
Shares of M opened at $5.21 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.28 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $1.66 billion, a P/E ratio of 2.86 and a beta of 1.53. The stock’s fifty day simple moving average is $5.45 and its 200 day simple moving average is $12.32. Macy’s has a twelve month low of $4.38 and a twelve month high of $23.40.
A number of equities research analysts recently issued reports on M shares. Evercore ISI reaffirmed a “buy” rating and issued a $22.00 target price on shares of Macy’s in a research note on Sunday, February 9th. Zacks Investment Research reaffirmed a “positive” rating on shares of Macy’s in a research note on Friday, March 6th. Guggenheim reissued a “hold” rating on shares of Macy’s in a research note on Tuesday, February 25th. Cfra reduced their price target on Macy’s from $4.00 to $3.00 and set a “sell” rating on the stock in a research note on Thursday. Finally, Bank of America reissued an “underperform” rating and set a $4.50 price target (down previously from $5.00) on shares of Macy’s in a research note on Friday. Eight equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.61.
In related news, insider John T. Harper sold 6,123 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $5.47, for a total value of $33,492.81. Following the completion of the sale, the insider now directly owns 23,850 shares in the company, valued at approximately $130,459.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 6,747 shares of company stock valued at $36,821. 0.58% of the stock is owned by insiders.
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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