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Macy's (M) Stock Drops Despite Market Gains: Important Facts to Note
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Macy's (M - Free Report) closed the most recent trading day at $15.27, moving -0.46% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 0.8%.
Heading into today, shares of the department store operator had lost 0.2% over the past month, outpacing the Retail-Wholesale sector's loss of 1.22% and the S&P 500's loss of 0.97% in that time.
Investors will be eagerly watching for the performance of Macy's in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0, reflecting a 100% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.74 billion, indicating a 2.56% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.72 per share and a revenue of $22.14 billion, indicating changes of -22.29% and -4.12%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Macy's is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, Macy's is currently being traded at a Forward P/E ratio of 5.63. This denotes a discount relative to the industry's average Forward P/E of 10.27.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Macy's (M) Stock Drops Despite Market Gains: Important Facts to Note
Macy's (M - Free Report) closed the most recent trading day at $15.27, moving -0.46% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 0.8%.
Heading into today, shares of the department store operator had lost 0.2% over the past month, outpacing the Retail-Wholesale sector's loss of 1.22% and the S&P 500's loss of 0.97% in that time.
Investors will be eagerly watching for the performance of Macy's in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0, reflecting a 100% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.74 billion, indicating a 2.56% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.72 per share and a revenue of $22.14 billion, indicating changes of -22.29% and -4.12%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Macy's. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Macy's is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, Macy's is currently being traded at a Forward P/E ratio of 5.63. This denotes a discount relative to the industry's average Forward P/E of 10.27.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.