Macy's stock forecast and price prediction

M stock price: $18.18 2.60% At close on Jun 21st, 2021

Updated on:
Jun 22nd, 2021

2

Macy's forecast brief

  • Macy's stock skyrocketed 2.60% to close at $18.18 on the stock market on Monday.
  • The stock is configuring an uptrend pattern since October 2020, when it bottomed at $5.57. Up to date, shares made a 226.39% gain since the beginning of this rally
  • Macy's, Inc., an omnichannel retail organization, operates stores, websites, and mobile applications under the Macy's, Bloomingdale's, and bluemercury brands.

Macy's stock price forecast

Nobody can predict how much a share will be priced tomorrow. Banks and financial organisations publish their analysis forecasting how a particular stock will performance in the future.

Along with buy or sell recommendations, financial institutions release their price target based on the stock price action and the company fundamental data. Most of these predictions follow the release of new financial information by the company, and many times. If you are a small investor you should not buy or sell based on these price targets.

The average price target for Macy's stock calculated from the table below is $17.67. That is a 2.81% than the current price ($18.18).

Macy's stock price predictions
Brokerage firmPrice target
May 25th, 2021
Credit Suisse Group $13.00$16.00
Morgan Stanley $11.00$17.00
Telsey Advisory Group $16.00$20.00

Analysts recommendations

In the last 30 days, 3 analyst ratings were published for Macy's. General sentiment is bearish, with 2 out of 3 posting negative forecasts for the mid and long term

Macy's analysts' ratings - Last 30 days
Brokerage firmRating
May 25th, 2021
Credit Suisse Group Sell
Morgan Stanley Sell
Telsey Advisory Group

Earnings and financials

In mid-May, Macy's ($M) hosted the quarterly financial event and released the report. Macy's posted earnings of $0.39 per share on sales of $4.7 billion. The consensus earnings estimate was $-0.41 per share on revenue of $4.4 billion.

Compared to the same quarter last year, EPS was $-2.03, so reported EPS means a gain of 119.21%. Looking at sales, figures skyrocketed a 54.54% compared to $31.5B year over year.

Macy's ($M) is posting earnings report next August. Market analysts analysts forecast of $0.13, that is a 66.67% lower than previous quarter.

Macy's stock: buy or sell?

Is $M stock a buy?

Macy's received 3 ratings in the last 30 days: 0 bullish, 2 bearish and 0 neutral.

In the current situation of Macy's there is not any eligible buy setup. This doesn't mean we expect a selloff for $M in coming sessions, or that it may not climb higher. Simply, it doesn't match our recommended trading systems

Is it time to sell Macy's stock?

Currently, Macy's stock doesn't match any of our preferred sell setups, so if you hold Macy's shares and your operation is in profit probably is not time to sell now

Macy's stock price action predictions

Macy's stock started an uptrend in October 2020, and gained a gorgeous 226.39%. During this uptrend, the price offered some buy points on the breakouts. Latest pullback was on June 4, when price bounced at $17.65. Like in all uptrends, price needs to rest and now price is consolidating the gains in a range between $20.38 and $17.65

SMAs overview

M stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $18.21 (0.17% above)
  • R2: $18.24 (0.33% above)
  • R3: $18.49 (1.71% above)
  • The current supports are:

  • S1: $18.17 (-0.06% below)
  • S2: $18.12 (-0.33% below)
  • S3: $18.08 (-0.55% below)
  • Bollinger bands

    M stock Bollinger Bands chart

    Relative strength index

    When the fluctuates for so long below 70 and above 30, without any indication of overbought and oversold, the indicator becomes of little use, and we are currently in one of these cases.

    M stock RSI chart

    Macy's stock price history

    Macy's went public on Feb 5th, 1992 at $5.63 per share1. Since then, M stock surged by 222.91%, with an average of 7.69% per year. If you had invested thousand dollars in Macy's stock at that time, it would have a value of $3,229.13 today.

    1: Adjusted price after possible price splits or reverse-splits

    M stock price history chart

    Important:
    The viewpoints published in this article are personal and not recommendations for you to buy or sell stocks. The author of this report does not have an understanding of the specific conditions of the reader, his or her own finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are expressed for informational purposes only

    Macy's summary

    Monday, June 21st, 2021
    Open$17.76
    Close$18.18
    Day range$17.75 - $18.34
    Previous close$17.72
    Session gain2.60%
    Average true range$1.10
    50d mov avg$17.76
    100d mov avg$16.92
    200d mov avg$12.93
    Earnings dateAugust 31st, 2021

    Frequently asked questions

    What is Macy's stock symbol?

    Macy's, Inc. is a public company trading in the US stock market with the M symbol

    Will M go up?

    Macy's had different price predictions published by market analysts in the last 30 days forecasting the target price to $17.67. That is a 2.81% than the current price ($18.18).