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Macy's (M) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Macy's (M - Free Report) closed at $26.84, marking a -0.52% move from the previous day. This change lagged the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the department store operator had lost 0.74% over the past month, outpacing the Retail-Wholesale sector's loss of 2.8% and lagging the S&P 500's gain of 3.11% in that time.
Investors will be hoping for strength from Macy's as it approaches its next earnings release. On that day, Macy's is projected to report earnings of $1.92 per share, which would represent year-over-year growth of 140%. Our most recent consensus estimate is calling for quarterly revenue of $8.43 billion, up 24.27% from the year-ago period.
M's full-year Zacks Consensus Estimates are calling for earnings of $4.82 per share and revenue of $24.2 billion. These results would represent year-over-year changes of +318.1% and +39.52%, respectively.
Any recent changes to analyst estimates for Macy's should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Macy's currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Macy's has a Forward P/E ratio of 5.59 right now. For comparison, its industry has an average Forward P/E of 6.86, which means Macy's is trading at a discount to the group.
Investors should also note that M has a PEG ratio of 0.47 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Regional Department Stores was holding an average PEG ratio of 0.54 at yesterday's closing price.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% 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.
To follow M in the coming trading sessions, be sure to utilize Zacks.com.
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Macy's (M) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Macy's (M - Free Report) closed at $26.84, marking a -0.52% move from the previous day. This change lagged the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the department store operator had lost 0.74% over the past month, outpacing the Retail-Wholesale sector's loss of 2.8% and lagging the S&P 500's gain of 3.11% in that time.
Investors will be hoping for strength from Macy's as it approaches its next earnings release. On that day, Macy's is projected to report earnings of $1.92 per share, which would represent year-over-year growth of 140%. Our most recent consensus estimate is calling for quarterly revenue of $8.43 billion, up 24.27% from the year-ago period.
M's full-year Zacks Consensus Estimates are calling for earnings of $4.82 per share and revenue of $24.2 billion. These results would represent year-over-year changes of +318.1% and +39.52%, respectively.
Any recent changes to analyst estimates for Macy's should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Macy's currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Macy's has a Forward P/E ratio of 5.59 right now. For comparison, its industry has an average Forward P/E of 6.86, which means Macy's is trading at a discount to the group.
Investors should also note that M has a PEG ratio of 0.47 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Regional Department Stores was holding an average PEG ratio of 0.54 at yesterday's closing price.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% 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.
To follow M in the coming trading sessions, be sure to utilize Zacks.com.