Technicals Say Macy’s Inc. (M) Is Worth Holding

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As of Wednesday close, Macy’s Inc.’s (NYSE:M) stock was down -$0.19, moving down -0.80 percent to $23.42. The average number of shares traded per day over the past five days has been 19,329,160 shares. 4 times new highs have been achieved over the past 5 days, with a $3.71 gain in that time frame. In the last twenty days, the average volume was 12,312,745, while in the previous 50 days, it was 11,516,142.

Since last month, M stock rose 13.86%. Shares of the company fell to $18.72 on 11/09/22, the lowest level in the past month. A 52-week high of $33.78 was reached on 01/03/22 after having rallying from a 52-week low of $15.10. Since the beginning of this year, M’s stock price has dropped by -10.54% or -$2.76, and marked a new high 1 time. However, the stock has declined by -30.67% since its 52-week high.


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M stock investors should be aware that Macy’s Inc. (M) stock had its last reported insider trading activity 80 days ago on Sep 06. Griscom Paul, the SVP and Controller of the company, disposed of 1,223 shares for $17.05 on Sep 06. It resulted in a $20,852 divestment by the insider. Griscom Paul sold 2,868 shares at an average price of $17.43 on Aug 31. The insider now owns 4,688 shares following the transaction. On Jul 11, EVP-Macy’s/CEO-Bloomingdale’s Spring Antony sold 19,678 shares at $17.36 apiece. The transaction was valued at $341,693.

Valuation Metrics

Right now, Macy’s Inc. (M) has a P/E ratio of about 4.88. The stock’s beta is 1.75. Besides these, the trailing price-to-sales (P/S) ratio of 0.25, the price-to-book (PB) ratio of 1.80, and the price-to-cash flow ratio of 3.47 may also be considered.

The latest dividend of $0.1575 per share was paid out, remained unchanged from last year’s $0.1575. On Friday August 26 2022, a $0.0005 dividend increase was announced.

Financial Health

In the three months ended July 30, Macy’s Inc.’s quick ratio stood at 0.20, while its current ratio was 1.20, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending July 30 was 0.85, and the total debt-to-equity ratio was 0.85. On the profitability front, the trailing twelve-month gross margin is 40.20% percent. In the year ended July 30, operating margins totaled 8.90%. Based on annual data, M earned $10.34 billion in gross profit and brought in $25.29 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 22.90%. Return on equity (ROE) for the past 12 months was 48.00%.

In Macy’s Inc.’s quarter-end financial report for July 30, it reported total debt of $3.0 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. M’s revenue fell -0.84% to $5.35 billion during the quarter, while net income inched up to $5.6 billion. While analysts expected Macy’s Inc. to report $0.85 quarterly earnings, the actual figure was $1 per share, beating the consensus estimate by 17.60%. During the quarter, the company generated $609.0 million in EBITDA. The liabilities of Macy’s Inc. were 12.81 billion at the end of its most recent quarter ended July 30, and its total debt was $6.0 billion. The value of shareholders’ equity is $270.99 million.

Technical Picture

This quick technical analysis looks at Macy’s Inc.’s (M) price momentum. With a historical volatility rate of 91.88%, the RSI 9-day stood at 66.91% on 23 November.

With respect to its five-day moving average, the current Macy’s Inc. price is up by +18.82% percent or $3.71. At present, M shares trade +12.60% above its 20-day simple moving average and +24.57% percent above its 100-day simple moving average. However, the stock is currently trading approximately +41.25% above its SMA50 and -11.09% below its SMA200.

Stochastic coefficient K was 94.99% and Stochastic coefficient D was 91.74%, while ATR was 1.18. Given the Stochastic reading of 94.95% for the 14-day period, the RSI (14) reading has been calculated as 65.34%. As of today, the MACD Oscillator reading stands at 1.32, while the 14-day reading stands at 2.16.

Analyst Ratings

Morgan Stanley upgraded its rating on Macy’s Inc. (NYSE: M) to an Equal-weight in a note to investors on May 27, 2022. The analysts firm previously had an Underweight rating on the stock.Macy’s Inc. (M) has been rated Hold by analysts. According to 2 brokerage firms, M is a sell, and 9 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate Macy’s Inc. stock as buy, with 3 recommending it as overweight.

With a median target price of $25.00, the current consensus forecast for the stock is $14.00 – $30.00. Based on these forecasts, analysts predict Macy’s Inc. (M) will achieve an average price target of $23.61.

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