September 18, 2023
A block trade is a significant transaction involving the negotiation of securities away from public markets in order to minimize its impact on the price of the security. Typically, hedge funds and institutional investors conduct block trades through investment banks and other intermediaries. However, it is worth noting that high-net-worth accredited investors may also have the opportunity to participate. The criteria set by the New York Stock Exchange and the Nasdaq define a block trade as one that involves a minimum of 10,000 shares of stock or has a value exceeding $200,000. However, it is common for block trades to far surpass these minimum requirements.
In the provided information, the phrase “M 636,248 @ $10.73 at the bid” likely indicates a block trade involving 636,248 shares of a security. The transaction occurred at a price of $10.73 per share, specifically executed at the bid price. The letter “M” in this context is likely an abbreviation for “million,” suggesting that the total value of the block trade amounted to approximately $6.8 million. Nevertheless, it is important to note that without further context, it is challenging to ascertain the specific security or exchange associated with this block trade.
Updated on: 03/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
5:00 PM (UTC)
Date:03 December, 2023
|Analyst / firm||Rating|
Gordon Haskett Capital Corporation
Challenging Day for Macys Inc. (M) Stock: Decline in Performance and Negative Earnings Growth Predicted
Macy’s Inc. (M) stock had a challenging day on September 18, 2023, as it experienced a decline in its performance. The stock opened at $11.10 and fluctuated between $10.73 and $11.10 throughout the day. The trading volume was high, with 17,394,766 shares being exchanged. Macy’s Inc. currently has a market capitalization of $3.1 billion. The company’s earnings growth has been negative in recent years, with a decline of 8.07% last year and a further drop of 34.69% expected this year. Analysts predict a negative earnings growth rate of 9.67% for the next five years. Despite these challenges, the company achieved a slight revenue growth of 0.05% in the previous year. The stock’s P/E ratio is 4.0, the price-to-sales ratio is 0.26, and the price-to-book ratio is 0.74, indicating undervaluation. On September 18, Macy’s Inc. experienced a decline of $1.35 or 5.92%. The decline may have been influenced by market conditions, investor sentiment, or company-specific news. Macy’s Inc. is scheduled to report its next earnings on November 16, 2023, with analysts forecasting an EPS of $0.29 for the current quarter. The company generated annual revenue of $25.3 billion in the previous fiscal year, resulting in a profit of $1.2 billion. The net profit margin for Macy’s Inc. is 4.65%. Macy’s Inc. operates in the retail trade sector, specifically in the department stores industry. The corporate headquarters are located in New York, New York.
Macys Inc Stock Performance Shows Positive Trend and Promising Investment Opportunity
Macy’s Inc, the renowned American department store chain, has been experiencing a positive trend in its stock performance. As of September 18, 2023, the 12 analysts offering 12-month price forecasts for Macy’s Inc have a median target of 15.40, indicating a potential increase of 43.52% from the last recorded price of 10.73. The high estimate for the stock price is 22.00, while the low estimate stands at 10.00. These projections suggest that analysts are generally optimistic about the future performance of Macy’s Inc.
Moreover, a consensus among 16 polled investment analysts indicates a strong recommendation to buy stock in Macy’s Inc. This rating has remained steady since September, when it was upgraded from a hold rating. The consistent buy recommendation signifies the confidence that analysts have in Macy’s Inc as an investment opportunity.
In terms of financial performance, Macy’s Inc reported earnings per share of $0.29 for the current quarter. This figure reflects the profitability of the company and indicates a positive outlook for its future earnings. Additionally, the company reported sales of $4.9 billion for the same period, highlighting its ability to generate substantial revenue.
Investors can expect further insights into Macy’s Inc’s financial performance when the company releases its next earnings report on November 16. This report will provide a comprehensive overview of the company’s financial health and may impact its stock performance.
Overall, based on the information provided, Macy’s Inc appears to be on a positive trajectory. With a median price target of 15.40 and a strong consensus among analysts to buy the stock, investors may find Macy’s Inc to be a promising investment opportunity. However, it is important for investors to conduct their own research and consider various factors before making any investment decisions.