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Macy's (M) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Macy's (M - Free Report) closed at $23.13, marking a -4.4% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.32% for the day. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq added 1.09%.
Coming into today, shares of the department store operator had gained 6.14% in the past month. In that same time, the Retail-Wholesale sector gained 9.3%, while the S&P 500 lost 5.4%.
The investment community will be closely monitoring the performance of Macy's in its forthcoming earnings report. In that report, analysts expect Macy's to post earnings of -$0.19 per share. This would mark a year-over-year decline of 311.11%. 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 full year, the Zacks Consensus Estimates project earnings of $2.32 per share and a revenue of $21.81 billion, demonstrating changes of 0% and -0.38%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Macy's. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% decrease. Macy's is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Macy's is presently trading at a Forward P/E ratio of 10.42. This valuation marks a discount compared to its industry average Forward P/E of 11.39.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 27% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Macy's (M) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Macy's (M - Free Report) closed at $23.13, marking a -4.4% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.32% for the day. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq added 1.09%.
Coming into today, shares of the department store operator had gained 6.14% in the past month. In that same time, the Retail-Wholesale sector gained 9.3%, while the S&P 500 lost 5.4%.
The investment community will be closely monitoring the performance of Macy's in its forthcoming earnings report. In that report, analysts expect Macy's to post earnings of -$0.19 per share. This would mark a year-over-year decline of 311.11%. 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 full year, the Zacks Consensus Estimates project earnings of $2.32 per share and a revenue of $21.81 billion, demonstrating changes of 0% and -0.38%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Macy's. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% decrease. Macy's is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Macy's is presently trading at a Forward P/E ratio of 10.42. This valuation marks a discount compared to its industry average Forward P/E of 11.39.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 27% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.