Myer Holdings (ASX:MYR) has plunged to a fraction of its former value. The stock lost roughly 60% of its worth over the past year while the broader retail sector held up far better — a gap that demands explanation. This article pulls together the most current pricing data, analyst targets, and the earnings picture to help you form your own view on whether MYR is worth a position.
The stock trades near its 52-week low while analysts see significant upside — but the path there is anything but smooth.
Ticker: MYR.AX · Exchange: ASX · Market Cap: AU$476M · Recent Price: AU$0.28 · Sector: Consumer Cyclical
Quick snapshot
- ASX:MYR listing on Australian exchange (Stockopedia)
- Price at AU$0.28 as of April 24, 2026 (Stockopedia)
- 52-week range: AU$0.27–AU$0.81 (Simply Wall St)
- H1 FY2026 revenue: 1.83B AUD (TradingView)
- Dividend yield: 4.24% in 2024 (TradingView)
- Exact timing and magnitude of any recovery
- Whether recent sales growth will sustain through FY2027
- Impact of Premier Investments acquisition on competitive position
- July 25, 2025: Closed at $0.615, -3.15% drop on 7M shares (StockInvest.us)
- March 30–31, 2026: Continued slide to $0.29 (Motley Fool Australia)
- April 2026: Trading around $0.275–$0.28 (Investing.com, Stockopedia)
- Analyst consensus target: AU$0.68, representing 70% upside from $0.40 close (Stockopedia)
- Morningstar fair value: $0.60 per share post-earnings revision (Morningstar)
- Technical signals point to further near-term weakness (StockInvest.us)
The table below consolidates key metrics from multiple verified sources to establish a reliable baseline for analysis.
| Metric | Value | Source |
|---|---|---|
| Ticker Symbol | MYR.AX | ASX |
| Current Price (Apr 24, 2026) | AU$0.28 | Stockopedia |
| 52-Week High | AU$0.81 | Simply Wall St |
| 52-Week Low | AU$0.27 | Simply Wall St |
| Market Cap | ~$476M | TradingView |
| Morningstar Fair Value | AU$0.60 | Morningstar |
| Dividend Yield (2024) | 4.24% | TradingView |
| H1 FY2026 Revenue | 1.83B AUD | TradingView |
| 1-Year Price Change | −60% | Simply Wall St |
| PE Ratio | 8.49 | Stockopedia |
Is Myer a good share to buy?
This is the question every MYR investor needs to answer on their own terms, because the answer splits sharply depending on your time horizon and risk tolerance. The stock sits well below its 52-week high of AU$0.81 and analysts see meaningful upside from current levels — but the path there is anything but smooth.
Pros and cons
The dividend story is the most straightforward bull case. Myer paid a 4.24% yield in 2024 with a 66.79% payout ratio, making it one of the higher-yielding names in ASX retail. That’s attractive for income-focused investors willing to hold through volatility. Revenue did grow 21.1% over the past year, and the H1 FY2026 sales figure of 1.83B AUD beat estimates of 1.81B. The stock trades under 8x forward earnings, which some analysts view as undemanding relative to peers.
Upsides
- Dividend yield of 4.24% — one of the better yields in ASX retail
- Trading at a PE of 8.49, below sector average
- Morningstar values shares at AU$0.60, roughly double current price
- Revenue of 1.83B AUD beat consensus estimates
- Forecast earnings growth of 59.6% per annum over three years (Simply Wall St Future)
Downsides
- No-moat rating from Morningstar — structural headwinds remain
- Underlying NPAT fell 17% in H1 FY2026 despite modest sales growth
- Technical analysis shows Sell signals; short-term forecast calls for further decline (StockInvest.us)
- Shares have underperformed the Australian Multiline Retail industry by over 57 percentage points over the past year
- Beta of 1.42 means above-market volatility
Analyst ratings
Analyst targets show meaningful dispersion, reflecting genuine uncertainty about Myer’s trajectory. TradingView data shows price targets ranging from a minimum of AU$0.70 to a maximum of AU$1.12, while Fintel places the average one-year target at AU$0.56 with a range of AU$0.32–AU$0.77. Stockopedia’s consensus sits at AU$0.68, representing 70% upside from a $0.40 close. Morningstar’s revised fair value of AU$0.60 reflects a 28% cut following the H1 FY2026 earnings miss.
The implication: if you’re betting on analyst targets materialising, you’re looking at meaningful upside — but the timing is uncertain and short-term technicals point the other way.
Why is Myer share price falling?
Myer’s share price slide isn’t a single event but a series of earnings disappointments that have eroded investor confidence over time. Understanding what’s driving the decline matters whether you’re considering buying the dip or managing an existing position.
Recent earnings impact
The most recent catalyst was H1 FY2026 results. Sales adjusted up 2%, which sounds positive on the surface — but underlying net profit after tax (NPAT) fell 17%, squeezed by lower margins and rising costs. Morningstar reacted by cutting its fair value estimate by 28% to AU$0.60 per share, citing the weaker earnings trajectory and calling out “structural headwinds and more online competition.” The firm’s no-moat rating reflects a belief that Myer lacks durable competitive advantages in an increasingly digital retail landscape.
Retail sector challenges
Myer isn’t alone in struggling, but it’s performed worse than its peers. Over the trailing year, the Australian Multiline Retail industry returned roughly -2.7% — bad, but nowhere near MYR’s -60% decline. That’s a gap of over 57 percentage points that speaks to company-specific problems beyond macro headwinds. Department stores face structural pressure from online competition, changing consumer preferences, and the capital required to maintain physical footprint relevance.
What this means: the stock’s decline reflects both industry-wide pressures and Myer’s specific execution challenges. Buyers need to be clear whether they’re betting on a sector recovery or a company-specific turnaround.
What is the future outlook for Myer?
Forecasts for Myer span a wide range, from grim technical signals to bullish long-term projections. The gap between short-term and long-term views is one of the most important things to understand before taking a position.
Forecasts and targets
Short-term technical analysis from StockInvest.us signals additional weakness ahead, projecting a potential -18.89% decline over the next three months with the stock ranging between AU$0.437 and AU$0.539 at 90% probability. The moving averages are generating Sell signals on both short and long timeframes, and the stock carries a downgrade to Sell Candidate with a score of -2.408. Support sits at AU$0.605 with resistance at AU$0.632 and AU$0.631.
Short-term technicals point downward while long-term fundamental targets suggest significant upside. Investors chasing the dividend may tolerate near-term paper losses; those looking for capital appreciation face a trickier entry question.
Price predictions
Longer-term, Fintel projects the stock reaching AU$0.69 by February 2027 — representing a 127.41% gain from current levels. Simply Wall St’s growth model forecasts earnings expanding 59.6% per annum with revenue growth of 4.6% and EPS growth of 70.5% over three years. Morningstar’s more conservative view expects sales to grow roughly 1% per year with margins holding steady from FY2027. The stock trades at good value versus peers according to Simply Wall St, though that valuation is cold comfort if earnings disappoint again.
The catch: forecasts that aggressive belong to platforms with lower verification standards. Perplexity Finance notes “earnings forecast to grow 61.24% per year” — a figure that sits at the optimistic end of the range and comes from a tier3 source. Morningstar’s more measured 1% annual sales growth and steady margins from FY2027 reflects a more grounded view from the research firm’s Australian retail desk.
How much are Myer shares worth?
Valuation is where the bull and bear cases collide most visibly. Different methodologies produce dramatically different pictures of where MYR should trade.
Current valuation
At AU$0.28 per share, Myer carries a market capitalisation of roughly AU$476 million and a PE ratio of 8.49 based on trailing twelve-month earnings at a $0.40 close. The stock is trading below Morningstar’s revised fair value of AU$0.60, suggesting meaningful undervaluation on that metric. Simply Wall St notes the stock trades at “good value versus peers” despite the operational headwinds. Dividend yield of 4.48% (indicated) and 4.24% in 2024 provides a yield cushion for patient holders.
Historical prices
Myer has lost significant ground from its historical highs. The 52-week high of AU$0.81 versus current levels around AU$0.28 represents a 65% pullback from recent highs alone. The stock closed at AU$0.615 on July 25, 2025, dropped to AU$0.31 by March 30, 2026, AU$0.29 by March 31, and has since found a floor in the AU$0.27–AU$0.28 range. Since IPO, the stock has declined -70.83% — a brutal long-term outcome for early shareholders. Volume has been erratic, with 7M shares traded on July 25, 2025 for AU$4.21M turnover and 20M shares changing hands on March 31, 2026.
The pattern shows a consistent downtrend with occasional spikes in trading volume during price drops, suggesting increased seller pressure rather than accumulation.
The gap between Morningstar’s AU$0.60 fair value and the AU$0.28 trading price is substantial — but value investors should note that Morningstar’s fair value was itself cut 28% after H1 FY2026. A falling fair value target narrows the margin of safety over time.
Is Myer in trouble?
The question of whether Myer is “in trouble” depends on whether you mean survival risk or return disappointment. These are different questions with different answers.
Profitability check
Myer is still profitable — a critical distinction from companies facing insolvency. H1 FY2026 showed net income of AU$30.40 million versus a prior-year loss of AU$7.00 million. That’s a genuine improvement on the bottom line. However, the NPAT fell 17% year-on-year as margins compressed, and Morningstar’s no-moat rating signals concern about long-term earnings power rather than near-term viability. Revenue grew 21.1% over the past year, though this appears partially driven by acquisitions rather than organic growth in the department store model.
Ongoing struggles
Myer faces structural challenges that aren’t going away. Online competition continues to erode department store foot traffic, and maintaining physical stores requires capital investment that weighs on margins. The company underperformed the Australian Multiline Retail industry by 57 percentage points over the past year — a gap too large to blame entirely on sector weakness. Analyst consensus targets suggest recovery is possible, but the path involves either sustained margin improvement or external catalysts that aren’t yet visible in the data.
For income investors: the dividend is real, but it’s being paid from a business under pressure. For growth investors: the upside scenario requires faith in a turnaround that requires execution in a difficult environment.
What analysts are saying
Morningstar’s equity research team published the most substantive recent analysis, directly addressing the earnings impact and valuation implications. According to their April 2026 note on Australian retail, Myer faces structural headwinds from online competition and department store format pressure, but the shares are “materially undervalued” at current levels relative to the revised AU$0.60 fair value. The firm forecasts sales growth of approximately 1% per year with margins steady from fiscal year 2027 — a cautious but not pessimistic outlook.
We lower our fair value estimate for no-moat Myer by 28% to $0.60 per share. Shares are materially undervalued.
— Morningstar Analyst, Australian Retail Research (Morningstar)
While department stores are facing structural headwinds and more online competition, we forecast sales growing by 1% per year and hold margins steady from fiscal 2027.
— Morningstar Research Team (Morningstar)
Timeline of key price movements
Tracking the descent shows accelerating declines through early 2026 before stabilizing near the 52-week low.
- July 25, 2025: Closed at AU$0.615, down -3.15% on volume of 7M shares and AU$4.21M turnover (StockInvest.us)
- March 30, 2026: Closed at AU$0.31, down -6.15%, with 13.7M shares traded (Motley Fool Australia)
- March 31, 2026: Closed at AU$0.29, down -6.45%, with 20M shares traded (Motley Fool Australia)
- April 23, 2026: Trading at AU$0.275 with 41.5% upside potential noted by analysts (Investing.com)
- April 24, 2026: Price at AU$0.28 per share, with 70% upside to consensus target of AU$0.68 (Stockopedia)
Key facts at a glance
Three distinct data points anchor any serious analysis of Myer: the current price around AU$0.28, the revised Morningstar fair value of AU$0.60 reflecting a 28% haircut after H1 FY2026 earnings, and the 1-year price decline of roughly 60% that has left the stock near its 52-week low. The dividend yield of 4.24% stands as the most tangible positive for holders, while the no-moat rating and structural headwinds create legitimate questions about long-term earnings power.
Myer is profitable, pays a meaningful dividend, and sits below Morningstar’s revised fair value — but the earnings picture is deteriorating, the stock has badly underperformed its sector, and the path to higher prices requires either a turnaround in margins or broader retail sentiment improvement.
Frequently asked questions
What is the current Myer share price?
Myer Holdings (ASX:MYR) was trading at approximately AU$0.28 as of April 24, 2026, near its 52-week low of AU$0.27. The stock has declined roughly 65% from its 52-week high of AU$0.81.
What factors are affecting Myer share price?
The primary drivers include H1 FY2026 earnings showing 17% NPAT decline despite modest sales growth, structural pressure from online retail competition, a no-moat rating from Morningstar citing department store format challenges, and broader underperformance of the Australian retail sector.
How has Myer share price changed historically?
Myer has declined approximately 70.83% since its IPO and roughly 60% over the past year. The stock moved from AU$0.615 in July 2025 to AU$0.29 by March 31, 2026, and has stabilised near AU$0.27–AU$0.28 in April 2026.
What is Myer Holdings Limited?
Myer Holdings Limited is an ASX-listed department store operator (ticker: MYR.AX) and one of Australia’s largest retail chains. The company generates revenues of approximately 1.83B AUD from its half-year operations and carries a market capitalisation of roughly AU$476 million.
What dividends does Myer pay?
Myer paid a dividend yield of 4.24% in 2024 with a 66.79% payout ratio. The indicated yield for the current period sits at 4.48%, making it one of the higher-yielding names in the ASX retail space.
Is Myer undervalued according to analysts?
Morningstar values shares at AU$0.60, roughly double the current trading price, and calls the stock “materially undervalued.” Analyst consensus targets from Stockopedia sit at AU$0.68 (70% upside from a $0.40 close), though the stock is trading near its 52-week low, suggesting market sentiment has soured significantly since those targets were set.
What is the Myer share price forecast?
Forecasts vary significantly. Short-term technical analysis points to further weakness with potential decline to AU$0.437–AU$0.539. Longer-term, Fintel projects AU$0.69 by February 2027, while Simply Wall St forecasts earnings growth of 59.6% per annum. Morningstar’s more conservative view expects approximately 1% annual sales growth with steady margins from FY2027.
Why has Myer underperformed its retail peers?
Myer underperformed the Australian Multiline Retail industry by over 57 percentage points over the past year (roughly -60% versus -2.7%). The gap reflects company-specific challenges including weak execution, margin pressure, structural department store headwinds, and online competition — not merely sector-wide retail weakness.
For Australian investors: the choice is relatively clear. Income seekers with high risk tolerance may find the 4.24% dividend yield attractive at these levels, especially if the dividend is sustainable. Growth-focused investors should weigh the Morningstar fair value target of AU$0.60 against the no-moat rating and ongoing structural headwinds — the upside case is real but the execution risk is substantial.
Daniel Harper is Editor-in-Chief at Aussie Report, overseeing editorial standards, publication decisions and corrections.