Macy's (M - Free Report) closed at $5.08 in the latest trading session, marking a +1.8% move from the prior day. This change outpaced the S&P 500's 1.15% gain on the day. Meanwhile, the Dow gained 0.89%, and the Nasdaq, a tech-heavy index, added 1.42%.
M will be looking to display strength as it nears its next earnings release. In that report, analysts expect M to post earnings of -$1.02 per share. This would mark a year-over-year decline of 331.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.11 billion, down 25.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.11 per share and revenue of $20.73 billion. These totals would mark changes of -103.78% and -15.57%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for M. Recent revisions tend to reflect the latest near-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.
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 past month, the Zacks Consensus EPS estimate has moved 110.14% lower. M is currently sporting a Zacks Rank of #3 (Hold).
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% 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.