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Macy's (M) Gains As Market Dips: What You Should Know
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Macy's (M - Free Report) closed the most recent trading day at $20.84, moving +0.1% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 1.58%.
Heading into today, shares of the department store operator had lost 9.99% over the past month, lagging the Retail-Wholesale sector's loss of 2.03% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from Macy's as it approaches its next earnings release, which is expected to be March 2, 2023. In that report, analysts expect Macy's to post earnings of $1.60 per share. This would mark a year-over-year decline of 34.69%. Meanwhile, our latest consensus estimate is calling for revenue of $8.22 billion, down 5.12% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.46% lower within the past month. Macy's is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 5.52. This valuation marks a discount compared to its industry's average Forward P/E of 9.1.
Meanwhile, M's PEG ratio is currently 0.46. 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. Retail - Regional Department Stores stocks are, on average, holding a PEG ratio of 0.8 based on yesterday's closing prices.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Macy's (M) Gains As Market Dips: What You Should Know
Macy's (M - Free Report) closed the most recent trading day at $20.84, moving +0.1% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 1.58%.
Heading into today, shares of the department store operator had lost 9.99% over the past month, lagging the Retail-Wholesale sector's loss of 2.03% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from Macy's as it approaches its next earnings release, which is expected to be March 2, 2023. In that report, analysts expect Macy's to post earnings of $1.60 per share. This would mark a year-over-year decline of 34.69%. Meanwhile, our latest consensus estimate is calling for revenue of $8.22 billion, down 5.12% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.46% lower within the past month. Macy's is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 5.52. This valuation marks a discount compared to its industry's average Forward P/E of 9.1.
Meanwhile, M's PEG ratio is currently 0.46. 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. Retail - Regional Department Stores stocks are, on average, holding a PEG ratio of 0.8 based on yesterday's closing prices.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.