We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Macy's (M) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Macy's (M - Free Report) closed at $22.78, marking a -1.3% move from the previous day. This change lagged the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 10.92%.
Heading into today, shares of the department store operator had gained 13.03% over the past month, outpacing the Retail-Wholesale sector's gain of 5.54% and the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Macy's as it approaches its next earnings release. In that report, analysts expect Macy's to post earnings of $1.62 per share. This would mark a year-over-year decline of 33.88%. Meanwhile, our latest consensus estimate is calling for revenue of $8.22 billion, down 5.08% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.18 per share and revenue of $24.44 billion, which would represent changes of -21.28% and -0.06%, respectively, from the prior year.
Any recent changes to analyst estimates for Macy's should also be noted by investors. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.48% lower within the past month. Macy's currently has a Zacks Rank of #3 (Hold).
Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 5.52. This represents a discount compared to its industry's average Forward P/E of 9.01.
Meanwhile, M's PEG ratio is currently 0.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Regional Department Stores industry currently had an average PEG ratio of 0.84 as of yesterday's close.
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 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.
In-Depth Zacks Research for the Tickers Above
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Macy's (M) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Macy's (M - Free Report) closed at $22.78, marking a -1.3% move from the previous day. This change lagged the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 10.92%.
Heading into today, shares of the department store operator had gained 13.03% over the past month, outpacing the Retail-Wholesale sector's gain of 5.54% and the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Macy's as it approaches its next earnings release. In that report, analysts expect Macy's to post earnings of $1.62 per share. This would mark a year-over-year decline of 33.88%. Meanwhile, our latest consensus estimate is calling for revenue of $8.22 billion, down 5.08% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.18 per share and revenue of $24.44 billion, which would represent changes of -21.28% and -0.06%, respectively, from the prior year.
Any recent changes to analyst estimates for Macy's should also be noted by investors. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.48% lower within the past month. Macy's currently has a Zacks Rank of #3 (Hold).
Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 5.52. This represents a discount compared to its industry's average Forward P/E of 9.01.
Meanwhile, M's PEG ratio is currently 0.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Regional Department Stores industry currently had an average PEG ratio of 0.84 as of yesterday's close.
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 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.