The latest trading session saw Macy's (M) ending at $15.28, denoting a -0.52% adjustment from its last day's close. This change was narrower than the S&P 500's 1.46% loss on the day. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq lost 3.07%.

Shares of the department store operator witnessed a loss of 12.43% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 2.27% and the S&P 500's gain of 1.08%.

Market participants will be closely following the financial results of Macy's in its upcoming release. The company is predicted to post an EPS of $1.55, indicating a 36.73% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.8 billion, down 3.94% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.39 per share and revenue of $22.33 billion, indicating changes of -31.71% and -3.32%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Macy's. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.58% lower. As of now, Macy's holds a Zacks Rank of #3 (Hold).

From a valuation perspective, Macy's is currently exchanging hands at a Forward P/E ratio of 6.42. This signifies a discount in comparison to the average Forward P/E of 10.39 for its industry.

The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 190, this industry ranks in the bottom 25% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow M in the coming trading sessions, be sure to utilize Zacks.com.

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