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Macy's (M) Stock Moves -0.19%: What You Should Know
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In the latest trading session, Macy's (M - Free Report) closed at $20.81, marking a -0.19% move from the previous day. This change was narrower than the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Prior to today's trading, shares of the department store operator had gained 29.58% over the past month. This has outpaced the Retail-Wholesale sector's gain of 1.11% and the S&P 500's gain of 8.12% in that time.
Macy's will be looking to display strength as it nears its next earnings release, which is expected to be November 17, 2022. On that day, Macy's is projected to report earnings of $0.84 per share, which would represent a year-over-year decline of 31.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.18 billion, down 4.87% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.13 per share and revenue of $24.47 billion, which would represent changes of -22.22% and +0.03%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Macy's. 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.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% higher. Macy's currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Macy's has a Forward P/E ratio of 5.05 right now. This represents a discount compared to its industry's average Forward P/E of 9.08.
We can also see that M currently has a PEG ratio of 0.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Regional Department Stores industry currently had an average PEG ratio of 0.84 as of yesterday's close.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Macy's (M) Stock Moves -0.19%: What You Should Know
In the latest trading session, Macy's (M - Free Report) closed at $20.81, marking a -0.19% move from the previous day. This change was narrower than the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Prior to today's trading, shares of the department store operator had gained 29.58% over the past month. This has outpaced the Retail-Wholesale sector's gain of 1.11% and the S&P 500's gain of 8.12% in that time.
Macy's will be looking to display strength as it nears its next earnings release, which is expected to be November 17, 2022. On that day, Macy's is projected to report earnings of $0.84 per share, which would represent a year-over-year decline of 31.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.18 billion, down 4.87% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.13 per share and revenue of $24.47 billion, which would represent changes of -22.22% and +0.03%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Macy's. 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.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% higher. Macy's currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Macy's has a Forward P/E ratio of 5.05 right now. This represents a discount compared to its industry's average Forward P/E of 9.08.
We can also see that M currently has a PEG ratio of 0.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Regional Department Stores industry currently had an average PEG ratio of 0.84 as of yesterday's close.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.