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Macy's (M) Stock Falls Amid Market Uptick: What Investors Need to Know
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Macy's (M - Free Report) closed at $18.14 in the latest trading session, marking a -0.27% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 0.36%.
Shares of the department store operator witnessed a loss of 10.48% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 0.71% and the S&P 500's gain of 2.4%.
The investment community will be paying close attention to the earnings performance of Macy's in its upcoming release. The company's earnings per share (EPS) are projected to be $2.02, reflecting a 7.45% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.1 billion, down 1.99% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.06 per share and revenue of $23.22 billion, which would represent changes of -31.7% and -5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Macy's. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.85% higher within the past month. As of now, Macy's holds a Zacks Rank of #3 (Hold).
In terms of valuation, Macy's is presently being traded at a Forward P/E ratio of 5.94. This represents a discount compared to its industry's average Forward P/E of 9.5.
We can also see that M currently has a PEG ratio of 0.49. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Retail - Regional Department Stores stocks are, on average, holding a PEG ratio of 0.9 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 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank is ordered 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) Stock Falls Amid Market Uptick: What Investors Need to Know
Macy's (M - Free Report) closed at $18.14 in the latest trading session, marking a -0.27% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 0.36%.
Shares of the department store operator witnessed a loss of 10.48% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 0.71% and the S&P 500's gain of 2.4%.
The investment community will be paying close attention to the earnings performance of Macy's in its upcoming release. The company's earnings per share (EPS) are projected to be $2.02, reflecting a 7.45% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.1 billion, down 1.99% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.06 per share and revenue of $23.22 billion, which would represent changes of -31.7% and -5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Macy's. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.85% higher within the past month. As of now, Macy's holds a Zacks Rank of #3 (Hold).
In terms of valuation, Macy's is presently being traded at a Forward P/E ratio of 5.94. This represents a discount compared to its industry's average Forward P/E of 9.5.
We can also see that M currently has a PEG ratio of 0.49. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Retail - Regional Department Stores stocks are, on average, holding a PEG ratio of 0.9 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 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank is ordered 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.