Macy's (M Quick QuoteM - Free Report) closed the most recent trading day at $17.82, moving -1.55% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.11%. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.18%.

Shares of the department store operator have depreciated by 5.78% over the course of the past month, underperforming the Retail-Wholesale sector's loss of 3.81%, and the S&P 500's loss of 4.28%.

The upcoming earnings release of Macy's will be of great interest to investors. In that report, analysts expect Macy's to post earnings of $0.07 per share. This would mark a year-over-year decline of 56.25%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.62 billion, indicating a 0.52% increase compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.11 per share and a revenue of $21.67 billion, signifying shifts of -9.05% and -0.45%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Macy's. 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 business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.9% lower. Macy's presently features a Zacks Rank of #3 (Hold).

In terms of valuation, Macy's is currently trading at a Forward P/E ratio of 8.59. This valuation marks a discount compared to its industry average Forward P/E of 13.78.

The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 190, finds itself in the bottom 23% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.