Macy's, Inc. (M - Free Report) , one of the leading department store retailers, came out with fourth-quarter fiscal 2016 results, wherein adjusted earnings of $2.02 per share surpassed the Zacks Consensus Estimate of $1.97 but declined 3.3% from $2.09 per share delivered in the year-ago quarter.
For fiscal 2017, management anticipate adjusted earnings in the band of $2.90- $3.15 per share, in comparison to $3.11 per share earned in the fiscal 2016.
Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been witnessing downward revisions over the past 30 days. If we look at the Macy's performance in the trailing four quarters (excluding the quarter under review), the company has surpassed the Zacks Consensus Estimate by an average of 1%.
Revenues: Macy's generated net sales of $8,515 million that declined 4% year over year and marginally missed the Zacks Consensus Estimate of $8,582 million. Comparable sales on an owned plus licensed basis dipped 2.1% while on an owned basis, comparable sales fell 2.7%.
For fiscal 2017, Macy’s projects comps on an owned plus licensed basis to decline in the band of 2–3%, while on an owned basis, comps are expected to decrease in the range of 2.2–3.3%.
Zacks Rank: Currently, Macy's carries a Zacks Rank #5 (Strong Sell) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Stock Movement: Macy’s shares are up nearly 2.9% during pre-market trading hours following the earnings release.
Check back later for our full write up on Macy's earnings report!
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Macy's, Inc. (M - Free Report) , one of the leading department store retailers, came out with fourth-quarter fiscal 2016 results, wherein adjusted earnings of $2.02 per share surpassed the Zacks Consensus Estimate of $1.97 but declined 3.3% from $2.09 per share delivered in the year-ago quarter.
For fiscal 2017, management anticipate adjusted earnings in the band of $2.90- $3.15 per share, in comparison to $3.11 per share earned in the fiscal 2016.
Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been witnessing downward revisions over the past 30 days. If we look at the Macy's performance in the trailing four quarters (excluding the quarter under review), the company has surpassed the Zacks Consensus Estimate by an average of 1%.
Revenues: Macy's generated net sales of $8,515 million that declined 4% year over year and marginally missed the Zacks Consensus Estimate of $8,582 million. Comparable sales on an owned plus licensed basis dipped 2.1% while on an owned basis, comparable sales fell 2.7%.
For fiscal 2017, Macy’s projects comps on an owned plus licensed basis to decline in the band of 2–3%, while on an owned basis, comps are expected to decrease in the range of 2.2–3.3%.
Zacks Rank: Currently, Macy's carries a Zacks Rank #5 (Strong Sell) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Stock Movement: Macy’s shares are up nearly 2.9% during pre-market trading hours following the earnings release.
Check back later for our full write up on Macy's earnings report!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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