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Simon Property Group, Inc. (SPG) - free report >>
Macy's, Inc. (M) - free report >>
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Strength Seen in Kohl's (KSS): Can Its 5.3% Jump Turn into More Strength?
Kohl's (KSS - Free Report) shares soared 5.3% in the last trading session to close at $60.39. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.9% loss over the past four weeks.
Kohl's shares rallied on reports which suggested that Simon Property Group, Inc. (SPG - Free Report) and Brookfield Asset Management Inc. (BAM - Free Report) — the owners of JCPenney have offered to acquire the company. Per the report, the interested parties are willing to buyout Kohl’s for $68 per share.
This department store operator is expected to post quarterly earnings of $0.79 per share in its upcoming report, which represents a year-over-year change of -24.8%. Revenues are expected to be $3.96 billion, up 1.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Kohl's, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on KSS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Kohl's belongs to the Zacks Retail - Regional Department Stores industry. Another stock from the same industry, Macy's (M - Free Report) , closed the last trading session 3.1% higher at $25.01. Over the past month, M has returned -7.3%.
Macy's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.79. Compared to the company's year-ago EPS, this represents a change of +102.6%. Macy's currently boasts a Zacks Rank of #3 (Hold).