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Macy's (M) Gains As Market Dips: What You Should Know
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In the latest trading session, Macy's (M - Free Report) closed at $21.56, marking a +0.94% move from the previous day. This move outpaced the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the department store operator had lost 6.97% over the past month. This has lagged the Retail-Wholesale sector's loss of 4.27% and the S&P 500's loss of 5.25% in that time.
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 $1.64 per share, which would represent a year-over-year decline of 33.06%. Our most recent consensus estimate is calling for quarterly revenue of $8.32 billion, down 3.99% from the year-ago period.
M's full-year Zacks Consensus Estimates are calling for earnings of $4.20 per share and revenue of $24.49 billion. These results would represent year-over-year changes of -20.9% and +0.13%, respectively.
Investors might also notice recent changes to analyst estimates for Macy's. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Macy's is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Macy's has a Forward P/E ratio of 5.09 right now. Its industry sports an average Forward P/E of 7.78, so we one might conclude that Macy's is trading at a discount comparatively.
It is also worth noting that M currently has a PEG ratio of 0.42. 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 industry currently had an average PEG ratio of 0.74 as of yesterday's close.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 14, putting it in the top 6% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Macy's (M) Gains As Market Dips: What You Should Know
In the latest trading session, Macy's (M - Free Report) closed at $21.56, marking a +0.94% move from the previous day. This move outpaced the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the department store operator had lost 6.97% over the past month. This has lagged the Retail-Wholesale sector's loss of 4.27% and the S&P 500's loss of 5.25% in that time.
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 $1.64 per share, which would represent a year-over-year decline of 33.06%. Our most recent consensus estimate is calling for quarterly revenue of $8.32 billion, down 3.99% from the year-ago period.
M's full-year Zacks Consensus Estimates are calling for earnings of $4.20 per share and revenue of $24.49 billion. These results would represent year-over-year changes of -20.9% and +0.13%, respectively.
Investors might also notice recent changes to analyst estimates for Macy's. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Macy's is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Macy's has a Forward P/E ratio of 5.09 right now. Its industry sports an average Forward P/E of 7.78, so we one might conclude that Macy's is trading at a discount comparatively.
It is also worth noting that M currently has a PEG ratio of 0.42. 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 industry currently had an average PEG ratio of 0.74 as of yesterday's close.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 14, putting it in the top 6% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.