Macy's (M) closed at $11.13 in the latest trading session, marking a +1.09% move from the prior day. This move outpaced the S&P 500's daily gain of 0.13%. Meanwhile, the Dow lost 1.33%, and the Nasdaq, a tech-heavy index, lost 0.13%.

Coming into today, shares of the department store operator had lost 19.28% in the past month. In that same time, the Retail-Wholesale sector lost 5.65%, while the S&P 500 lost 6.3%.

The investment community will be closely monitoring the performance of Macy's in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.14, marking a 48.15% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.47 billion, reflecting a 7.86% fall from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.12 per share and a revenue of $21.27 billion, signifying shifts of -19.7% and -4.6%, respectively, from the last year.

Any recent changes to analyst estimates for Macy's should also be noted by investors. 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.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% decrease. As of now, Macy's holds a Zacks Rank of #4 (Sell).

Digging into valuation, Macy's currently has a Forward P/E ratio of 5.19. This valuation marks a discount compared to its industry's average Forward P/E of 11.21.

The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 231, placing it within the bottom 7% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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This article originally published on Zacks Investment Research (zacks.com).

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