Macy's (M - Free Report) closed at $7.29 in the latest trading session, marking a +1.96% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.06%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.33%.
M will be looking to display strength as it nears its next earnings release. On that day, M is projected to report earnings of -$2.45 per share, which would represent a year-over-year decline of 975%. Our most recent consensus estimate is calling for quarterly revenue of $3.74 billion, down 32.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.97 per share and revenue of $18.69 billion, which would represent changes of -236.43% and -23.89%, respectively, from the prior year.
Any recent changes to analyst estimates for M should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 604.3% lower. M is currently sporting a Zacks Rank of #4 (Sell).
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% 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.