Famous retailer Macy’s, Inc. (M) on Friday caught some mixed commentary from analysts at
The firm maintained its “Buy” rating on M but cut its price target from $45 to $43. That new target suggests a 25% upside to the stock’s Thursday closing price of $34.27.
A Deutsche Bank analyst commented, “Macy’s reported June SSS of 1.2% below our 1.5% view and 2.3% Street expectation. Year-to-date, M had averaged a 4.3% comp prior to June, so the results suggest a noteworthy change in trend. That said, given that Macy’s has been one of the most consistent retailers in the space despite substantial volatility in peers, we believe this miss is just a bump in the road.”
Accordingly, Deutsche Bank lowered its earnings estimates for the company through 2013.
Macy’s shares were mostly flat in premarket trading Friday.
The Bottom Line
Macy’s currently offers a 1.17% dividend yield, based on last night’s closing price of $34.27 and the company’s annualized dividend payout of 40 cents per share.
Macy’s, Inc. (M) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.