Macy’s (M, Financial) has submitted a filing for an automatic mixed securities shelf. This move is a strategic step for the company as it looks to enhance its financial flexibility. By filing this shelf registration, Macy's can promptly offer and sell various types of securities, based on prevailing market conditions, without the need for separate approval from regulatory bodies for each issuance. This filing is part of the company's efforts to maintain a solid financial foundation and capitalize on market opportunities as they arise.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Macy's Inc (M, Financial) is $13.24 with a high estimate of $23.11 and a low estimate of $6.00. The average target implies an upside of 8.86% from the current price of $12.16. More detailed estimate data can be found on the Macy's Inc (M) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, Macy's Inc's (M, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Macy's Inc (M, Financial) in one year is $14.67, suggesting a upside of 20.64% from the current price of $12.16. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Macy's Inc (M) Summary page.
