Guggenheim Securities Initiates Coverage on Macy's to Buy

Guggenheim Securities Initiates Coverage on Macy's(NYSE:M). The shares have been rated Buy. The rating by Guggenheim Securities was issued on Sep 30, 2016.

In a different note, On Sep 28, 2016, Credit Suisse said it Downgrades its rating on Macy's. The shares have been rated ‘Neutral’ by the firm. On Sep 14, 2016, Citigroup said it Upgrades its rating on Macy's. The shares have been rated ‘Buy’ by the firm. On Aug 12, 2016, Citigroup said it Maintains its rating on Macy's. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 12, 2016, Macquarie said it Downgrades its rating on Macy's. The shares have been rated ‘Neutral’ by the firm. On Aug 12, 2016, Deutsche Bank said it Maintains its rating on Macy's. In the research note, the firm Raises the price-target to $37.00 per share. The shares have been rated ‘Hold’ by the firm. On Aug 12, 2016, Goldman Sachs said it Maintains its rating on Macy's. In the research note, the firm Raises the price-target to $34.00 per share. The shares have been rated ‘Neutral’ by the firm.

Macy's (M) made into the market gainers list on Tuesdays trading session with the shares advancing 0.77% or 0.28 points. Due to strong positive momentum, the stock ended at $36.56, which is also near the day’s high of $36.6. The stock began the session at $36.31 and the volume stood at 51,00,909 shares. The 52-week high of the shares is $52.48 and the 52 week low is $29.94. The company has a current market capitalization of $11,278 M and it has 30,84,67,830 shares in outstanding.

Macy's(M) last announced its earnings results on Aug 11, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.87B. Analysts had an estimated revenue of $5.74B. Earnings per share were $0.54. Analysts had estimated an EPS of $0.45.

Several Insider Transactions has been reported to the SEC. On Mar 24, 2016, Terry J Lundgren (Chairman and CEO) sold 177,352 shares at $43.48 per share price.Also, On Mar 21, 2016, Molly Langenstein (Chief Private Brand Officer) sold 1,779 shares at $44.55 per share price.On Mar 21, 2016, Joel A Belsky (EVP and Controller) sold 3,599 shares at $44.55 per share price, according to the Form-4 filing with the securities and exchange commission.

Macy’s Inc. is an omnichannel retail company operating stores Websites (macys.com bloomingdales.com and bluemercury.com) and mobile. As of January 31 2015 the operations of the Company included 823 stores with an area of approximately 147400000 square feet in 45 states of the United States the District of Columbia Guam and Puerto Rico. Of these 823 stores 447 were owned 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macy’s Bloomingdale’s Bloomingdale’s Outlet and Bluemercury. The Company operates 13 Bloomingdale’s outlet stores. Bloomingdale’s in Dubai the United Arab Emirates is operated under a license agreement with Al Tayer Insignia a company of Al Tayer Group LLC.

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