A Stock to Watch: Macy's, Inc. (NYSE:M)

[Forbes] Macy's, Inc. (NYSE:M) and Bloomingdale’s will expand their horizons by opening in Abu Dhabi, United Arab Emirates (UAE) in 2018. This is great news! Until now Macy’s has remained a domestic retailer while other retailers, including Bloomingdale’s, have expanded globally. The stores will open in the Al Maryah Central, a new regional shopping center on Al Maryah Island. It is a mixed-use 3.1 million square foot development with retail, cafes, restaurants, a cinema, health club, luxury hotel and residential towers.Stock PerformanceTaking a look at the company’s recent performance, Macy's, Inc. (NYSE:M) reported Second quarter earnings for fiscal 2014 on August 13^th. The company reported actual earnings per share of $0.80 against the consensus Street estimate of $0.86. This represents year over year growth of 10.00%. Macy's, Inc. posted revenue of $6.27 billion against estimates of $6.30 billion.Macy's, Inc. (M) is currently valued at $20.29 billion and closed the last trading session at $57.27. The stock has a 50-day moving average of $58.43 and a 200-day moving average of $52.96.

Is this a Buying Opportunity?There are currently ten analysts that we track that cover the stock. Of those ten, seven have a Buy rating and three have a Hold rating. On a consensus basis this yields a score of 2.70 and a Buy. The combined price objective of these covering analysts is $65.92, which represents a 14.92% upside difference to the last closing price.The most recent analyst activity consisted of ZacksReiterated their neutral stance on the company. Zacks has a price target of $63.00 which represents an upside of 8.42% from the last closing price. On the date of the report, the stock closed at $58.11.Another research firm weighing in recently was Sterne Agee who downgraded their neutral stance on the stock. On September 11^th Sterne Agee upgraded their price target on the stock $62.00, a 3.64% upside to the current price. On the day of the report, Mshares closed at $59.82.Company ProfileMacy's, Inc. (NYSE:M), together with its subsidiaries, operates stores and Internet Websites in the United States. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates Bloomingdale’s Outlet stores that offer a range of apparel and accessories, including women's ready-to-wear, fashion accessories, jewelry, handbags, and intimate apparel, as well as men's, children's, and women's shoes. As of September 29, 2014, it operated approximately 840 stores under the Macy's and Bloomingdale's names in 45 states of the United States, the District of Columbia, Guam, and Puerto Rico, as well as the macys.com and bloomingdales.com Websites; and 13 Bloomingdale's Outlet stores. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy’s, Inc. in June 2007. Macy’s, Inc. was founded in 1830 and is headquartered in Cincinnati, Ohio.