Nomura Securities Maintains a 'Buy/Top Pick' on Macy's (M); Q1 Review
Tweet Send to a FriendGet Alerts M Hot Sheet
Price: $49.32 +1.04%
Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade M Now!
Nomura Securities maintains a 'Buy/Top Pick' on Macy's (NYSE: M) price target of $43.00.
Analyst, Paul Lejuez, said, "M reported a good 1Q, but the company’s failure to raise guidance has caused the market to question whether trends may be slowing. We believe mgmt is being conservative in not raising guidance, and that top-line trends remain strong. We also expect the company to pick up the pace of share repurchase in future quarters as it generates more FCF. Our F12E of $3.44 and our F13E of $4.04 remain unchanged. We model a comp increase of ~4% for F12 and operating margin of 9.6% (+60bp). We model FCF of $1.6bn and share repurchase of $1.2bn. M remains one of our top picks and we expect the company to beat F12 consensus estimates."
For an analyst ratings summary and ratings history on Macy's click here. For more ratings news on Macy's click here.
Shares of Macy's closed at $38.05 yesterday, with a 52 week range of $22.66-$42.17.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Paul Lejuez, said, "M reported a good 1Q, but the company’s failure to raise guidance has caused the market to question whether trends may be slowing. We believe mgmt is being conservative in not raising guidance, and that top-line trends remain strong. We also expect the company to pick up the pace of share repurchase in future quarters as it generates more FCF. Our F12E of $3.44 and our F13E of $4.04 remain unchanged. We model a comp increase of ~4% for F12 and operating margin of 9.6% (+60bp). We model FCF of $1.6bn and share repurchase of $1.2bn. M remains one of our top picks and we expect the company to beat F12 consensus estimates."
For an analyst ratings summary and ratings history on Macy's click here. For more ratings news on Macy's click here.
Shares of Macy's closed at $38.05 yesterday, with a 52 week range of $22.66-$42.17.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Terex (TEX) Suffers from Weakness in Europe; Read-Through For Manitowoc (MTW)
- Deutsche Bank Sees Upside in AIG (AIG) Stock
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Nomura, Stock Buyback
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
