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Macy's(M) operates retail stores and Web sites under two brands, Macy's and Bloomingdale's, that sell a range of merchandise, including men's, women's and children's apparel and accessories, cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico. This stock is trading down 0.06% at $32.31 in recent trading after hitting a 52-week of $33 earlier in the day.
Today's Range: $31.91-$33
52-week Range: $21.69-$33
Three-Month Average Volume: 9,078,610
Macy's has a market cap of $13.59 billion and an enterprise value of $19.46 billion. The stock trades at a trailing price-to-earnings of 11.84 and a forward price-to-earnings of 10.22. Its estimated growth rate for this year is 33%, and for next year it's pegged at 13.7%. The current short interest as a percentage of the float for Macy's is notable at 4.2%.
This stock is hitting new highs today after the company reported total sales for the month of November at $2.465 billion, up 5.3% from the same period last year. Same-store sales jumped 4.8%.
From a technical standpoint, this stock is starting to flirt with a big breakout since it has started to challenge some previous overhead resistance at $32.67. Traders should now look for a sustained move and close on high-volume over $32.67 to signal that this stock wants to trend much higher. Look for volume that registers close to or above 9.07 million shares with the stock closing near $33 or higher in the near future.
Macy's, one of
David Tepper's top holdings, shows up on a recent list of
6 Dividend Stocks With No Sell Ratings.
To see more stocks hitting new 52-week highs today, including
Philip Morris International(PM), check out the
Stocks Hitting New 52-Week Highs portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.