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Macy’s stock reached a new 52-week high, touching 18.13 USD, marking a significant milestone for the retail giant. With a market capitalization of $4.8 billion and a P/E ratio of 10.2, the company currently trades near InvestingPro’s Fair Value estimate. Over the past year, Macy’s has delivered a 24.1% total return, with an impressive 44.3% gain over the past six months, reflecting investor confidence and robust performance in the retail sector. This upward trajectory indicates strong market sentiment and potential growth prospects for the company, as it continues to navigate the evolving retail landscape. The recent high underscores Macy’s resilience and strategic initiatives aimed at enhancing its market position. InvestingPro subscribers can access 13 additional investment tips and comprehensive analysis for Macy’s, including detailed financial health scores and growth projections.
In other recent news, Macy’s Inc. reported its fiscal second-quarter earnings, surpassing both revenue and earnings per share (EPS) expectations. The retailer achieved an adjusted EPS of $0.41, significantly higher than the projected $0.19, marking a surprise of 115.79%. Revenue reached $4.8 billion, slightly exceeding forecasts of $4.69 billion, although it represented a 2.5% year-over-year decline. Meanwhile, Jefferies raised its price target for Macy’s stock to $18.50 from $14.50, maintaining a Buy rating, citing a resilient consumer base. UBS also adjusted its price target for Macy’s, increasing it to $6.50 from $6.00, but maintained a Sell rating due to concerns about ongoing market share losses.
In another development, Constellation Energy Generation, LLC entered into a $7 billion revolving credit facility. The agreement includes $4.5 billion in revolving credit commitments available immediately, with an additional $2.5 billion contingent upon certain conditions. This follows Constellation’s planned acquisition of Calpine Corporation. These developments highlight the dynamic financial strategies of both Macy’s and Constellation Energy Generation.
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