Macy's Is Easily Worth $50
- Macy's got a surprise analyst price target of $50, 100% above the previous stock price.
- The department store retailer has long had valuable real estate with the latest estimate at $7 billion, an amount nearly matching the current stock valuation.
- The stock is easily worth $50 based on just 10x EPS targets.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
-Revenue of $8.67B (+27.9% Y/Y) beats by $220M.
-Comparable sales up 28.3% on an owned basis and up 27.8% on an owned-plus-licensed basis versus Q4 2020.
-For FY2022, the company expects net sales of $24.46B to $24.7B vs. consensus of $24.37B ; Comparable owned plus licensed sales three-year CAGR: Approximately 1.1% to 1.4%; Adjusted diluted earnings per share of $4.13 to $4.52 vs. consensus of $4.02.