What's Happening With M
Retailer Macy’s (M) will report its second-quarter numbers before the market open August 15. Earnings are expected to come in at $0.48 per share, in-line with the same period last year. The stock has enjoyed a breakout year, with shares rising 53.7% on the year.
M was recently trading at $40.39 down $0.94 from its 12-month high and $22.98 above its 12-month low. InvestorsObserver’s Stock Score Report gives M a 93 long-term technical score and a 97 short-term technical score. The stock has recent support above $36 and recent resistance below $41.50. Of the 13 analysts who cover the stock 2 rate it Strong Buy, 0 rate it Buy, 9 rate it Hold, 0 rate it Sell, and 2 rate it Strong Sell, M gets a score of 78 from InvestorsObserver’s Stock Score Report.
Macy’s has been a top performer this year, pushed higher by back to back quarterly reports that showed results topping estimates on both the top and bottom line. Consumer sentiment is running high due to strength in the overall economy and low unemployment, and analysts expect to see another strong set of numbers for Macy’s most recent quarter. The street has a whisper number of $0.52 for the quarter, higher than the $0.48 consensus, and a nice improvement versus the $0.48 it earned during the same period last year. Even with the stock’s recent gains, its valuation remains very attractive, with a P/E of just 7.7, so there is plenty of room to the upside on the back of another strong quarterly report.
About Macy's Inc
Macy's operates about 690 department stores under the brands Macy's and Bloomingdale's, and more than 180 specialty stores under the names Macy's Backstage, Bloomingdale's The Outlet, and Bluemercury. Macy's also operates e-commerce sites, owns 65% of a Chinese e-commerce joint venture, and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances constitute approximately 61% of Macy's sales. The retailer has headquarters in Cincinnati and New York City.