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Macy's (M) Stock Declines While Market Improves: Some Information for Investors
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Macy's (M - Free Report) closed at $18.66 in the latest trading session, marking a -4.21% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.19%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.1%.
Heading into today, shares of the department store operator had gained 3.29% over the past month, lagging the Retail-Wholesale sector's gain of 6.53% and the S&P 500's gain of 9.13%.
Analysts and investors alike will be keeping a close eye on the performance of Macy's in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.02, showcasing a 87.5% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $4.62 billion, indicating a 0.52% growth compared to the corresponding quarter of the prior 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 pay attention to any latest changes in analyst estimates for Macy's. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 remained steady. Right now, Macy's possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Macy's is currently trading at a Forward P/E ratio of 9.24. This valuation marks a discount compared to its industry average Forward P/E of 14.19.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 107, positioning it in the top 44% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Macy's (M) Stock Declines While Market Improves: Some Information for Investors
Macy's (M - Free Report) closed at $18.66 in the latest trading session, marking a -4.21% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.19%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.1%.
Heading into today, shares of the department store operator had gained 3.29% over the past month, lagging the Retail-Wholesale sector's gain of 6.53% and the S&P 500's gain of 9.13%.
Analysts and investors alike will be keeping a close eye on the performance of Macy's in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.02, showcasing a 87.5% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $4.62 billion, indicating a 0.52% growth compared to the corresponding quarter of the prior 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 pay attention to any latest changes in analyst estimates for Macy's. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 remained steady. Right now, Macy's possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Macy's is currently trading at a Forward P/E ratio of 9.24. This valuation marks a discount compared to its industry average Forward P/E of 14.19.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 107, positioning it in the top 44% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.