Macy's (M) closed the latest trading day at $15.84, indicating a -1.19% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 1.54%. Meanwhile, the Dow experienced a drop of 1.63%, and the technology-dominated Nasdaq saw a decrease of 1.63%.
Shares of the department store operator have depreciated by 1.72% over the course of the past month, outperforming the Retail-Wholesale sector's loss of 4.27% and the S&P 500's loss of 2.2%.
The investment community will be closely monitoring the performance of Macy's in its forthcoming earnings report. The company's upcoming EPS is projected at $1.55, signifying a 36.73% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $7.83 billion, showing a 3.58% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.39 per share and revenue of $22.49 billion, indicating changes of -31.71% and -2.62%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 12.44% lower. As of now, Macy's holds a Zacks Rank of #3 (Hold).
Digging into valuation, Macy's currently has a Forward P/E ratio of 6.7. This expresses a discount compared to the average Forward P/E of 10.31 of its industry.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Macy's, Inc. (M) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.