Macquarie (MIC - Free Report) closed the most recent trading day at $37.93, moving -1.71% from the previous trading session. This change lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.45%.
Prior to today's trading, shares of the investment firm had lost 1.68% over the past month. This has was narrower than the Conglomerates sector's loss of 8.76% and the S&P 500's loss of 7.29% 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. Our most recent consensus estimate is calling for quarterly revenue of $453.40 million, down 3.78% from the year-ago period.
It is also important to note the recent changes to analyst estimates for MIC. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. MIC is currently sporting a Zacks Rank of #3 (Hold).
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.