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Why Macy's (M) Dipped More Than Broader Market Today
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Macy's (M - Free Report) closed at $18.36 in the latest trading session, marking a -1.45% move from the prior day. This change lagged the S&P 500's daily loss of 0.32%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.2%.
The the stock of department store operator has fallen by 1.01% in the past month, lagging the Retail-Wholesale sector's gain of 5.56% and the S&P 500's gain of 4.59%.
The investment community will be paying close attention to the earnings performance of Macy's in its upcoming release. The company is forecasted to report an EPS of $2.02, showcasing a 7.45% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $8.1 billion, showing a 1.99% drop compared to the year-ago quarter.
Any recent changes to analyst estimates for Macy's should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.05% decrease. As of now, Macy's holds a Zacks Rank of #4 (Sell).
In terms of valuation, Macy's is currently trading at a Forward P/E ratio of 7.17. This valuation marks a discount compared to its industry's average Forward P/E of 10.46.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 115, finds itself in the top 46% echelons 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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Why Macy's (M) Dipped More Than Broader Market Today
Macy's (M - Free Report) closed at $18.36 in the latest trading session, marking a -1.45% move from the prior day. This change lagged the S&P 500's daily loss of 0.32%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.2%.
The the stock of department store operator has fallen by 1.01% in the past month, lagging the Retail-Wholesale sector's gain of 5.56% and the S&P 500's gain of 4.59%.
The investment community will be paying close attention to the earnings performance of Macy's in its upcoming release. The company is forecasted to report an EPS of $2.02, showcasing a 7.45% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $8.1 billion, showing a 1.99% drop compared to the year-ago quarter.
Any recent changes to analyst estimates for Macy's should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.05% decrease. As of now, Macy's holds a Zacks Rank of #4 (Sell).
In terms of valuation, Macy's is currently trading at a Forward P/E ratio of 7.17. This valuation marks a discount compared to its industry's average Forward P/E of 10.46.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 115, finds itself in the top 46% echelons 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.