In the latest trading session, Macquarie (MIC - Free Report) closed at $41.50, marking a -1.68% move from the previous day. This change was narrower than the S&P 500's daily loss of 3.24%. Elsewhere, the Dow lost 3.1%, while the tech-heavy Nasdaq lost 3.8%.
Heading into today, shares of the investment firm had gained 8.84% over the past month, outpacing the Conglomerates sector's gain of 0.5% and the S&P 500's gain of 2.73% in that time.
Investors will be hoping for strength from MIC as it approaches its next earnings release, which is expected to be February 20, 2019. Meanwhile, our latest consensus estimate is calling for revenue of $453.40 million, down 3.78% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for MIC. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. MIC is currently a Zacks Rank #3 (Hold).
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.