Why I'm Not Worried About a Macy's, Inc. Dividend Cut
Last Friday, shares of Macy's (NYSE: M) were hit hard when rival department store operator J.C. Penney slashed its earnings guidance. Macy's stock has continued to decline this week, after Citigroup retail analyst Paul Lejuez slapped a "Sell" rating on the stock and warned that the company may cut its dividend.
Macy's share price has already plunged by more than 50% since last December. Its generous dividend -- which now yields a stunning 8% -- has been one of the few points of consolation for investors. A dividend cut could send more investors running for the exits.
Source: Fool.com
Macy's Inc. Stock
€17.37
3.160%
Our community is currently high on Macy's Inc. with 6 Buy predictions and 3 Sell predictions.
On the other hand, the target price of 17 € is below the current price of 17.37 € for Macy's Inc., so the potential is actually -2.12%.
