Macy's, Inc. (NYSE:M)‘s stock had its “buy” rating reaffirmed by research analysts at Nomura in a report released on Sunday, Marketbeat reports. They presently have a $50.00 price objective on the stock. Nomura’s price objective suggests a potential upside of 23.73% from the company’s previous close.

Shares of Macy's (NYSE:M) opened at 40.41 on Friday. Macy's has a 1-year low of $34.05 and a 1-year high of $73.61. The firm has a 50-day moving average of $37.31 and a 200 day moving average of $50.25. The company has a market capitalization of $12.70 billion and a P/E ratio of 10.46.

Macy's (NYSE:M) last released its quarterly earnings results on Wednesday, November 11th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business earned $5.87 billion during the quarter, compared to the consensus estimate of $6.12 billion. The firm’s revenue was down 5.2% on a year-over-year basis. On average, analysts anticipate that Macy's will post $3.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Friday, December 11th.

A number of hedge funds and institutional investors have bought and sold shares of the stock. Wright Investors Service Inc. increased its position in Macy's by 3.7% in the fourth quarter. Wright Investors Service Inc. now owns 7,232 shares of the company’s stock worth $253,000 after buying an additional 258 shares during the period. Hudson Valley Investment Advisors Inc. ADV acquired a new position in Macy's during the fourth quarter worth approximately $255,000. Strs Ohio increased its position in Macy's by 13.3% in the fourth quarter. Strs Ohio now owns 8,198 shares of the company’s stock worth $286,000 after buying an additional 961 shares during the period. HL Financial Services LLC increased its position in Macy's by 105.2% in the fourth quarter. HL Financial Services LLC now owns 10,383 shares of the company’s stock worth $363,000 after buying an additional 5,322 shares during the period. Finally, Rothschild Investment Corp IL acquired a new position in Macy's during the fourth quarter worth approximately $488,000.

A number of other analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Macy's to a “sell” rating in a research note on Saturday, January 9th. Stifel Nicolaus reissued a “buy” rating on shares of Macy's in a research note on Friday, January 8th. BMO Capital Markets reissued a “buy” rating on shares of Macy's in a research note on Saturday, January 9th. Credit Suisse reissued a “buy” rating on shares of Macy's in a research note on Friday, January 8th. Finally, Cowen and Company reissued a “hold” rating on shares of Macy's in a research note on Friday, January 8th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Macy's presently has an average rating of “Hold” and a consensus price target of $57.61.

Macy’s, Inc. is an omnichannel retail company operating stores, Websites (NYSE:M) and mobile. As of January 31, 2015, the operations of the Company included 823 stores with an area of approximately 147,400,000 square feet in 45 states of the United States, the District of Columbia, Guam and Puerto Rico. Of these 823 stores, 447 were owned, 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury. The Company operates 13 Bloomingdale’s outlet stores. Bloomingdale’s in Dubai, the United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC.

12 Month Chart for NYSE:M

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