In the latest close session, Macy's (M) was up +2.41% at $19.54. The stock's change was more than the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 1.79%, and the technology-centric Nasdaq increased by 1.52%.
Prior to today's trading, shares of the department store operator had gained 5.71% lagged the Retail-Wholesale sector's gain of 6.55% and outpaced the S&P 500's gain of 5.15%.
The upcoming earnings release of Macy's will be of great interest to investors. The company is predicted to post an EPS of $0.02, indicating a 87.5% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.62 billion, indicating a 0.52% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.11 per share and a revenue of $21.67 billion, signifying shifts of -9.05% and -0.45%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Macy's. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Macy's is currently a Zacks Rank #3 (Hold).
In terms of valuation, Macy's is currently trading at a Forward P/E ratio of 9.05. This indicates a discount in contrast to its industry's Forward P/E of 14.58.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.
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Macy's, Inc. (M): Free Stock Analysis Report
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