Macy’s Sales for First Quarter Hurt on Weak Spending by Tourists

Macy’s started this calendar year announcing the slashing of 4,500 jobs after a highly unusual weak holiday shopping season. Now it appears as if customers did not want to shop at the chain of department stores during the recently ended quarter. The retailer, based in Cincinnati continues experiencing poor sales because of a huge drop […]
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Macy’s Sales for First Quarter Hurt on Weak Spending by Tourists

Dividend Stock To Monitor: Macy’s, Inc. (M)

Macy’s, Inc. (NYSE:M) share price jumped at US$ 32.87 before falling back to end the trade at US$ 31.82 a share. The dividend stock is -29.27% off a 52-week high stock price of US$ 45.5 but is up 11.45% since hitting the US$ 28.55. Investors are buying the stock with a trailing-twelve-month price-to-earnings (P/E) ratio of 14.55.

After a -2.81% fall from previous close of US$ 32.74, Macy’s, Inc. (M) has a US$ 9.84 Billion market cap. The company pays a US$ 0.3775-cent-per-share quarterly dividend, giving it a 4.75% yield. That brings its full year payout to US$ 1.51 and 114.3% annual payout ratio based on EPS.

The M has tumbled -11.14% year-to-date. The equity has slowed down in recent weeks, with shares lower about -22.4% in the past three months. It added -1.7%, climbed 8.08% and jumped -19.66% in the week, one month and six months, respectively. Revenue growth rate was recorded at 1.6% and net income per share was seen moving at a 10.2% rate in the past five years.

Macy’s, Inc. (NYSE:M) is over 10% above analysts’ consensus price target of US$ 35.6. The stock has blown through analysts’ low price target of US$ 30, but is still below the high US$ 45 target. On a price appreciation basis over the past 12 months, the stock returned -19.51%.

The most recent short interest data show 5.65% of the company’s stock are short sold. It would take about 2.14 days to cover all short positions. In terms of volatility, it has a beta coefficient of 0.73 and technical analysis volatility indicator called Average True Range or ATR around 1.

Macy’s, Inc. (NYSE:M) closed -9.43% below its 200-day moving average which many technicians use as a guide to the long-term trend, so stocks above the line are considered to be in longer-term uptrends, while those below it are considered to be in downtrends. The stock is -6.37% below another chart threshold, its 50-day moving average and 3.15% above its 20-day simple moving average.

Dividend Stock To Monitor: Macy’s, Inc. (M)