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Macy's (M) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Macy's (M - Free Report) closed at $24.19 in the latest trading session, marking a -5.88% move from the prior day. This change lagged the S&P 500's daily loss of 4.36%. Meanwhile, the Dow lost 3.44%, and the Nasdaq, a tech-heavy index, lost 5.52%.
Shares of the department store operator have appreciated by 12.77% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 11.64%, and the S&P 500's loss of 0.38%.
Investors will be eagerly watching for the performance of Macy's in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.19, indicating a 311.11% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.7 billion, indicating a 0.36% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.32 per share and a revenue of $21.81 billion, signifying shifts of 0% and -0.38%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% decrease. Macy's currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Macy's is at present trading with a Forward P/E ratio of 11.07. This valuation marks a discount compared to its industry average Forward P/E of 12.08.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Macy's (M) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Macy's (M - Free Report) closed at $24.19 in the latest trading session, marking a -5.88% move from the prior day. This change lagged the S&P 500's daily loss of 4.36%. Meanwhile, the Dow lost 3.44%, and the Nasdaq, a tech-heavy index, lost 5.52%.
Shares of the department store operator have appreciated by 12.77% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 11.64%, and the S&P 500's loss of 0.38%.
Investors will be eagerly watching for the performance of Macy's in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.19, indicating a 311.11% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.7 billion, indicating a 0.36% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.32 per share and a revenue of $21.81 billion, signifying shifts of 0% and -0.38%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% decrease. Macy's currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Macy's is at present trading with a Forward P/E ratio of 11.07. This valuation marks a discount compared to its industry average Forward P/E of 12.08.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.