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Macy's (M) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Macy's (M - Free Report) closed at $13.31 in the latest trading session, marking a -2.99% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.38%.
The department store operator's shares have seen an increase of 17.67% over the last month, surpassing the Retail-Wholesale sector's gain of 2.65% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of Macy's in its forthcoming earnings report. The company's upcoming EPS is projected at $0.18, signifying a 66.04% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.74 billion, indicating a 4.03% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.78 per share and revenue of $21.27 billion, indicating changes of -32.58% and -4.57%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Macy's. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Macy's is currently sporting a Zacks Rank of #4 (Sell).
Looking at valuation, Macy's is presently trading at a Forward P/E ratio of 7.69. Its industry sports an average Forward P/E of 17.2, so one might conclude that Macy's is trading at a discount comparatively.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 194, this industry ranks in the bottom 22% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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Macy's (M) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Macy's (M - Free Report) closed at $13.31 in the latest trading session, marking a -2.99% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.38%.
The department store operator's shares have seen an increase of 17.67% over the last month, surpassing the Retail-Wholesale sector's gain of 2.65% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of Macy's in its forthcoming earnings report. The company's upcoming EPS is projected at $0.18, signifying a 66.04% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.74 billion, indicating a 4.03% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.78 per share and revenue of $21.27 billion, indicating changes of -32.58% and -4.57%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Macy's. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Macy's is currently sporting a Zacks Rank of #4 (Sell).
Looking at valuation, Macy's is presently trading at a Forward P/E ratio of 7.69. Its industry sports an average Forward P/E of 17.2, so one might conclude that Macy's is trading at a discount comparatively.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 194, this industry ranks in the bottom 22% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.