This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
"With the My Macy's localization initiative (3rd inning) laying the foundation for growth and Omni-channel benefits (potential 200bps top-line and GPM driver over time) not fully in the numbers today (w/ SG&A spending baked in), we believe Macy's is just leaving port with 3-5 years of consistent double digit EPS growth given by top-line (3-5% SSS), margin expansion (2H12 GPM inflection) and a return of cash to shareholders (share repurchases/dividends)," JPMorgan analysts wrote in a March 12 report.
Shares of Macy's hit a 52-week high Tuesday of $41.26. The stock's 52-week low of $22.66 was set on Aug. 19.
Macy's has an estimated price-to-earnings ratio for next year of 10.76 times; the average for broad-line retailers is 20.85. For comparison,
J.C. Penney(JCP) has a forward P/E of 12.22.
Fifteen of the 19 analysts who cover Macy's rated it buy; four analysts gave the stock a hold rating.
TheStreet Ratings gives Macy's an A+ grade with a buy rating and
$52.41 price target. The stock has risen 27.38% year to date.