0R15 8520.0 0.0% 0R1E 8203.0 0.0% 0M69 21090.0 67.5139% 0R2V 226.02 9878.8079% 0QYR None None% 0QYP 412.97 -2.8306% 0RUK 2652.0 -9.2402% 0RYA 1554.0 -0.7029% 0RIH 174.55 -1.3563% 0RIH 165.15 -5.3853% 0R1O 198.5 9800.2494% 0R1O None None% 0QFP None None% 0M2Z 267.777 -0.1763% 0VSO 32.05 -9.9846% 0R1I None None% 0QZI 559.0 0.7207% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 165.7358 2.7149%
This report is the updated version of the report uploaded on 12 December 2023 at 4:47 AM PT
Company Overview:
Macy's Inc. (NYSE: M) is an omnichannel retail company which sells the wide range of merchandise including apparel as well as accessories, cosmetics, home furnishing, and other consumer goods.
Financial Results for Q3 FY 2023
Key Updates
Macy’s, Inc. announced that Tracy Preston has been named as the chief legal officer as well as corporate secretary, effective January 8, 2024
Outlook
For FY 2023, the company is expecting net sales in the range of $22.9 Bn - $23.2 Bn and its adjusted diluted EPS of $2.88 - $3.13.
Key Risks
The company is exposed to the risks related to weak global growth, geopolitical tensions, inflationary pressures, decline in consumer confidence, etc.
Fundamental Valuation
P/E Based Relative Valuation
Stock Recommendation
Over the last three months, the stock has given a return of 64.7%. The stock has made a 52-week low and high of USD 10.54 and USD 25.12, respectively. The company’s performance is exposed to the risks related to the global slowdown as well as geopolitical tensions. Therefore, investors should exit the stock.
Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD20.77 per share, up by 19.44% as on 11th December 2023.
Technical Overview:
Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
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