On Jul 8, 2013, shares of
) recorded a new 52-week high of $50.47. At the end of the
trading session, the stock closed at $50.27, up approximately 33%
year to date.
The current price is 2.2% below the Zacks Consensus average
price target of $51.42, signifying further upside potential.
Moreover, the stock is currently trading at a forward P/E of
12.72x, at par with the peer group average. The long-term EPS
growth rate stands healthy at 10.7%.
Macy's has been taking prudent steps to augment sales,
profitability and cash flow. These include integration of
operations, consolidation of divisions and customer-centric
localization initiatives. To help drive traffic, Macy's continues
to focus on price optimization, inventory management and
merchandise planning to generate long-term profitability, which
is well evident from its record of beating the quarterly earnings
If we look at the company's earnings surprise history, Macy's
has beaten the Zacks Consensus Estimates in 12 straight quarters
by an average of 35.6%.
Going forward, Macy's is expected to continue with its upbeat
performance through the My Macy's localization initiatives,
omnichannel integration, robust online sales and effective cost
management. The company is seeking to expand both the Macy's and
Macy's stood by its earlier earnings guidance of $3.90 to
$3.95 per share for fiscal 2013. Moreover, management now
anticipates comparable-store sales to climb 3.5% for fiscal
Currently, Macy's holds a Zacks Rank #2 (Buy). Alongside,
Sally Beauty Holdings Inc
Whole Foods Market, Inc
) attained new 52-week highs on Jul 8, 2013.
DSW INC CL-A (DSW): Free Stock Analysis
MACYS INC (M): Free Stock Analysis Report
SALLY BEAUTY CO (SBH): Free Stock Analysis
WHOLE FOODS MKT (WFM): Free Stock Analysis
To read this article on Zacks.com click here.