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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 $18.76, marking a -1.11% move from the previous day. This move lagged the S&P 500's daily loss of 0.67%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Coming into today, shares of the department store operator had gained 14.62% in the past month. In that same time, the Retail-Wholesale sector lost 4.51%, while the S&P 500 lost 3.76%.
Macy's will be looking to display strength as it nears its next earnings release. On that day, Macy's is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 85.37%. Our most recent consensus estimate is calling for quarterly revenue of $5.17 billion, down 4.92% from the year-ago period.
M's full-year Zacks Consensus Estimates are calling for earnings of $4.13 per share and revenue of $24.46 billion. These results would represent year-over-year changes of -22.22% and +0.02%, respectively.
It is also important to note the recent changes to analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Macy's is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 4.59. This represents a discount compared to its industry's average Forward P/E of 8.57.
Investors should also note that M has a PEG ratio of 0.38 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Retail - Regional Department Stores stocks are, on average, holding a PEG ratio of 0.79 based on yesterday's closing prices.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 $18.76, marking a -1.11% move from the previous day. This move lagged the S&P 500's daily loss of 0.67%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Coming into today, shares of the department store operator had gained 14.62% in the past month. In that same time, the Retail-Wholesale sector lost 4.51%, while the S&P 500 lost 3.76%.
Macy's will be looking to display strength as it nears its next earnings release. On that day, Macy's is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 85.37%. Our most recent consensus estimate is calling for quarterly revenue of $5.17 billion, down 4.92% from the year-ago period.
M's full-year Zacks Consensus Estimates are calling for earnings of $4.13 per share and revenue of $24.46 billion. These results would represent year-over-year changes of -22.22% and +0.02%, respectively.
It is also important to note the recent changes to analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Macy's is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 4.59. This represents a discount compared to its industry's average Forward P/E of 8.57.
Investors should also note that M has a PEG ratio of 0.38 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Retail - Regional Department Stores stocks are, on average, holding a PEG ratio of 0.79 based on yesterday's closing prices.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.