We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Macy's (M) Dipped More Than Broader Market Today
Read MoreHide Full Article
Macy's (M - Free Report) closed at $19.43 in the latest trading session, marking a -2.9% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.49%. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 0.9%.
Prior to today's trading, shares of the department store operator had gained 13.82% outpaced the Retail-Wholesale sector's gain of 13.56% and the S&P 500's gain of 12.8%.
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 $0.02, signifying a 87.50% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.62 billion, up 0.52% from the prior-year quarter.
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 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, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.48% lower. Macy's is currently a Zacks Rank #3 (Hold).
Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 9.49. This denotes a discount relative to the industry average Forward P/E of 14.97.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Why Macy's (M) Dipped More Than Broader Market Today
Macy's (M - Free Report) closed at $19.43 in the latest trading session, marking a -2.9% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.49%. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 0.9%.
Prior to today's trading, shares of the department store operator had gained 13.82% outpaced the Retail-Wholesale sector's gain of 13.56% and the S&P 500's gain of 12.8%.
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 $0.02, signifying a 87.50% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.62 billion, up 0.52% from the prior-year quarter.
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 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, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.48% lower. Macy's is currently a Zacks Rank #3 (Hold).
Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 9.49. This denotes a discount relative to the industry average Forward P/E of 14.97.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.