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Macy's (M) Increases Yet Falls Behind Market: What Investors Need to Know
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Macy's (M - Free Report) ended the recent trading session at $18.34, demonstrating a +1.33% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 2.51%. At the same time, the Dow added 2.85%, and the tech-heavy Nasdaq gained 2.8%.
Prior to today's trading, shares of the department store operator had gained 0.61% outpaced the Retail-Wholesale sector's loss of 4.13% and the S&P 500's loss of 1.66%.
The investment community will be paying close attention to the earnings performance of Macy's in its upcoming release. On that day, Macy's is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 87.5%. Alongside, our most recent consensus estimate is anticipating revenue of $4.62 billion, indicating a 0.52% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.11 per share and a revenue of $21.67 billion, representing changes of -9.05% and -0.45%, respectively, from the prior year.
Investors should also take note of any recent adjustments 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 business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.9% decrease. Macy's is currently a Zacks Rank #3 (Hold).
Digging into valuation, Macy's currently has a Forward P/E ratio of 8.59. This represents a discount compared to its industry average Forward P/E of 13.76.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 185, this industry ranks in the bottom 25% of all industries, numbering over 250.
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.
To follow M in the coming trading sessions, be sure to utilize Zacks.com.
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Macy's (M) Increases Yet Falls Behind Market: What Investors Need to Know
Macy's (M - Free Report) ended the recent trading session at $18.34, demonstrating a +1.33% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 2.51%. At the same time, the Dow added 2.85%, and the tech-heavy Nasdaq gained 2.8%.
Prior to today's trading, shares of the department store operator had gained 0.61% outpaced the Retail-Wholesale sector's loss of 4.13% and the S&P 500's loss of 1.66%.
The investment community will be paying close attention to the earnings performance of Macy's in its upcoming release. On that day, Macy's is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 87.5%. Alongside, our most recent consensus estimate is anticipating revenue of $4.62 billion, indicating a 0.52% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.11 per share and a revenue of $21.67 billion, representing changes of -9.05% and -0.45%, respectively, from the prior year.
Investors should also take note of any recent adjustments 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 business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.9% decrease. Macy's is currently a Zacks Rank #3 (Hold).
Digging into valuation, Macy's currently has a Forward P/E ratio of 8.59. This represents a discount compared to its industry average Forward P/E of 13.76.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 185, this industry ranks in the bottom 25% of all industries, numbering over 250.
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.
To follow M in the coming trading sessions, be sure to utilize Zacks.com.