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) ended the recent trading session at $19.19, demonstrating a -2.56% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.41%. Elsewhere, the Dow lost 1.13%, while the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the department store operator had gained 10.49% over the past month, lagging the Retail-Wholesale sector's gain of 11.33% and outpacing the S&P 500's gain of 10.02%.
Investors will be eagerly watching for the performance of Macy's in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.02, reflecting a 87.5% decrease from the same quarter last year. 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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.11 per share and revenue of $21.67 billion, indicating changes of -9.05% and -0.45%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Macy's. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Macy's possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Macy's is currently being traded at a Forward P/E ratio of 9.34. This signifies a discount in comparison to the average Forward P/E of 14.29 for its industry.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 39% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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) ended the recent trading session at $19.19, demonstrating a -2.56% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.41%. Elsewhere, the Dow lost 1.13%, while the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the department store operator had gained 10.49% over the past month, lagging the Retail-Wholesale sector's gain of 11.33% and outpacing the S&P 500's gain of 10.02%.
Investors will be eagerly watching for the performance of Macy's in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.02, reflecting a 87.5% decrease from the same quarter last year. 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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.11 per share and revenue of $21.67 billion, indicating changes of -9.05% and -0.45%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Macy's. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Macy's possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Macy's is currently being traded at a Forward P/E ratio of 9.34. This signifies a discount in comparison to the average Forward P/E of 14.29 for its industry.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 39% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.