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M

Macy's

$19.38

0.11 (0.57%)

20:25
08/13/19
08/13
20:25
08/13/19
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Macy's (M), consensus 45c.

  • 14

    Aug

M Macy's
$19.38

0.11 (0.57%)

05/16/19
GSCO
05/16/19
UPGRADE
Target $21
GSCO
Neutral
Macy's upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis upgraded Macy's to Neutral from Sell while lowering her price target for the shares to $21 from $23. Following the company's Q1 results, the analyst sees a more balanced risk/reward in the wake of the stock's recent underperformance. Since her Sell initiation on September 3, 2018, Macy's shares have fallen 41%. While the company continues to face "fading fundamentals" in the medium term as secular challenges weigh, the stock's near term risk/reward is now less skewed to the downside, Walvis tells investors in a research note. Further, she believes Macy's planned quantification of its cost savings program this fall and a potential update on the monetization of Herald Square as potential near-term catalysts for the shares.
05/16/19
MSCO
05/16/19
NO CHANGE
Target $20
MSCO
Underweight
Macy's EPS beat masks 'worrying' core retail performance, says Morgan Stanley
Morgan Stanley analyst Kimberly Greenberger said the 11c EPS beat reported by Macy's compared to consensus was driven by lower taxes, real estate gains and credit card revenue growth outperformance. However, she estimates that Macy's had a 0% core retail operating margin in Q1 and noted that its trend of shrinking core retail EBIT dollars, which began in 2015, has continued. The company's same-store comparisons were the easiest of the year in Q1 and Macy's laps significantly more difficult comparisons in the second half, said Greenberger, who sees "little room for error." She maintains an Underweight rating on Macy's shares and lowered her price target on the stock to $20 from $22 after lowering her 2022 and 2023 gross margin estimates due to expectations for higher e-commerce delivery expenses.
05/16/19
05/16/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Macy's (M) upgraded to Neutral from Sell at Goldman Sachs with analyst Alexandra Walvis saying she sees a more balanced risk/reward in the wake of the stock's recent underperformance. 2. SAIC (SAIC) upgraded to Outperform from Market Perform at Wells Fargo with analyst Edward Caso saying he has "growing comfort" with the company's ongoing integration of its Engility acquisition and sees the deal producing a "notable improvement" in free cash flow. 3. Scorpio Tankers (STNG) upgraded to Overweight from Neutral at JPMorgan with analyst Noah Parquette saying he's seen a considerable increase in interest from investors in the IMO 2020 product tanker story in recent weeks. 4. KB Home (KBH) and Taylor Morrison (TMHC) were upgraded to Outperform from Sector Perform at RBC Capital. 5. MYR Group (MYRG) upgraded to Buy from Hold at Stifel with analyst Noelle Dilts saying she sees "compelling dynamics" in the electric transmission and distribution market as utilities move investment toward power delivery in order to address reliability concerns, the need for grid hardening, and aging infrastructure. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/23/19
JEFF
07/23/19
NO CHANGE
Target $192
JEFF
Buy
Wayfair well positioned to take wedding registry market share, says Jefferies
Jefferies analyst Jonathan Matuszewski says his web analytics, pricing, and survey work prove Wayfair (W) is "uniquely-positioned to succeed in the attractive registry market." A high degree of market share currently resides with "struggling peers" like Bed Bath & Beyond (BBBY) and Macy's (M), presenting Wayfair with an opportunity to acquire engaged couples and their roughly 70M guests annually, Matuszewski tells investors in a research note. He estimates over $200M in 2022 wedding registry sales for Wayfair just from active customers, and over $600M when factoring in new customers and other occasions. The analyst reiterates a Buy rating on the shares with a $192 price target. The online retailer closed Monday down 38c to $145.00.

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