Wall Street analysts forecast that Macy's (M) will report quarterly earnings of $1.55 per share in its upcoming release, pointing to a year-over-year decline of 36.7%. It is anticipated that revenues will amount to $7.78 billion, exhibiting a decline of 4.2% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 2.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Macy's metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Net Sales' to reach $7.77 billion. The estimate indicates a year-over-year change of -4.3%.
It is projected by analysts that the 'Net Sales- Other Revenue' will reach $210.07 million. The estimate indicates a change of -17.6% from the prior-year quarter.
Analysts predict that the 'Net Sales- Other Revenue- Macy's Media Network revenue, net' will reach $67.14 million. The estimate points to a change of +11.9% from the year-ago quarter.
The consensus estimate for 'Store Count - End of Period - Bluemercury' stands at 169. Compared to the current estimate, the company reported 159 in the same quarter of the previous year.
The average prediction of analysts places 'Consolidated Number of stores' at 683. Compared to the present estimate, the company reported 718 in the same quarter last year.
View all Key Company Metrics for Macy's here>>>
Shares of Macy's have demonstrated returns of -7.9% over the past month compared to the Zacks S&P 500 composite's -1.3% change. With a Zacks Rank #3 (Hold), M is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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