Macy's (M - Free Report) closed at $15.29 in the latest trading session, marking a +0.26% move from the prior day. This change outpaced the S&P 500's 0.53% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 1.13%.
Heading into today, shares of the department store operator had gained 2.28% over the past month, outpacing the Retail-Wholesale sector's gain of 2.04% and lagging the S&P 500's gain of 3.59% in that time.
Wall Street will be looking for positivity from M as it approaches its next earnings report date. On that day, M is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 85.19%. Meanwhile, our latest consensus estimate is calling for revenue of $5.35 billion, down 0.97% from the prior-year quarter.
M's full-year Zacks Consensus Estimates are calling for earnings of $2.86 per share and revenue of $24.84 billion. These results would represent year-over-year changes of -31.58% and -0.51%, respectively.
It is also important to note the recent changes to analyst estimates for M. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.35% higher within the past month. M is currently a Zacks Rank #5 (Strong Sell).
Digging into valuation, M currently has a Forward P/E ratio of 5.34. This represents a discount compared to its industry's average Forward P/E of 9.4.
Investors should also note that M has a PEG ratio of 0.71 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. M's industry had an average PEG ratio of 0.83 as of yesterday's close.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 253, putting it in the bottom 2% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.