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M

Macy's

$16.80

-2.58 (-13.31%)

08:14
08/15/19
08/15
08:14
08/15/19
08:14

Macy's tough first half capped by 'rocky' second quarter, says Morgan Stanley

Morgan Stanley analyst Kimberly Greenberger said the "tough" first half of the year for Macy's was capped by a "rocky" second quarter, noting that the company's core retail operation excluding credit and asset sale gains lost $70M in the first six months of the year. While management continues to find "innovative strategies" to help drive sales, she cut her 2019 EPS estimate to $2.85 from $3.05 to account for a lower gross margin estimate and lower credit card revenue forecast. Greenberger lowered her price target on Macy's shares to $17 from $20 and keeps an Underweight rating on the stock.

  • 21

    Nov

M Macy's
$16.80

-2.58 (-13.31%)

08/14/19
JPMS
08/14/19
DOWNGRADE
Target $16
JPMS
Underweight
JPMorgan downgrades Macy's to Underweight after earnings miss, guidance cut
As previously reported, JPMorgan downgraded Macy's to Underweight from Neutral, with analyst Matthew Boss reducing both his FY20 and FY21 EPS estimates after the company's Q2 earnings miss and FY19 guidance cut. The analyst, who noted that Macy's reported its third consecutive quarterly decline in gross profit dollars, also pointed out that management spoke about a "very competitive" overall retail landscape. Boss cut his price target on Macy's shares to $16 from $22.
08/15/19
DBAB
08/15/19
NO CHANGE
Target $23
DBAB
Hold
Macy's price target lowered to $23 from $28 at Deutsche Bank
Deutsche Bank analyst Paul Trussell lowered his price target for Macy's to $23 from $28 citing yesterday's "big miss." While the Q2 comp was in line with expectations, earnings was well below driven by worse than feared margin pressure, Trussell tells investors in a research note. He keeps a Hold rating on Macy's shares.
08/15/19
WEDB
08/15/19
NO CHANGE
Target $48
WEDB
Neutral
Kohl's price target lowered to $48 from $58 at Wedbush
Wedbush analyst Jen Redding lowered her price target for Kohl's (KSS) to $48 from $58 as she is cautious on shares into Q2 EPS. Her Search model forecasts directional downside to consensus estimates - a continuation of the lackluster performance posted in Q1 with soft home sales and slow comps. Despite Kohl's' lead in search interest trends among peers, department stores meaningfully trailed Off-Price and Specialty Retail, as demonstrated by disappointing Q2 results from Macy's (M), Redding contends. Although her data shows improving monthly comp trends for the quarter, the analyst sees some risk that improvement in business trends in June and July may not be enough to offset weakness in May, given unfavorable weather impact on Apparel. She reiterates a Neutral rating on Kohl's shares.
08/15/19
GUGG
08/15/19
NO CHANGE
Target $20
GUGG
Buy
Macy's price target lowered to $20 from $30 at Guggenheim
Guggenheim analyst Robert Drbul lowered his price target on Macy's shares to $20 from $30 after the company reported softer than expected Q2 results, which he said was mainly driven by a gross margin miss but was also impacted by lower than expected sales and asset sale gains. While disappointed by the results, he believes the company's 9% dividend yield is secure and views the valuation as reason to maintain a Buy rating.

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$1,192.55

9.12 (0.77%)

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JMIA

Jumia Technologies

$12.54

-2.15 (-14.64%)

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$0.00

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WYND

Wyndham Destinations

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SPY

SPDR S&P 500 ETF Trust

$292.47

2.44 (0.84%)

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$292.42

2.39 (0.82%)

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TGT

Target

$102.13

16.555 (19.35%)

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JMIA

Jumia Technologies

$12.43

-2.26 (-15.38%)

13:47
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$49.66

-2.2 (-4.24%)

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13:25
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Conference/Events
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