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Macy's (M) Outpaces Stock Market Gains: What You Should Know
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Macy's (M - Free Report) ended the recent trading session at $12.18, demonstrating a +1.33% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.65% for the day. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.48%.
Shares of the department store operator have appreciated by 4.07% over the course of the past month, outperforming the Retail-Wholesale sector's loss of 0.65% and the S&P 500's loss of 2.79%.
The upcoming earnings release of Macy's will be of great interest to investors. The company's earnings report is expected on November 16, 2023. The company is predicted to post an EPS of $0.02, indicating a 96.15% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.78 billion, indicating an 8.51% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.81 per share and a revenue of $23.06 billion, signifying shifts of -37.28% and -5.67%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Macy's. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% lower. Macy's is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Macy's is presently being traded at a Forward P/E ratio of 4.28. This denotes a discount relative to the industry's average Forward P/E of 7.85.
Also, we should mention that M has a PEG ratio of 0.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Retail - Regional Department Stores industry had an average PEG ratio of 0.75.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% 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.
To follow M in the coming trading sessions, be sure to utilize Zacks.com.
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Macy's (M) Outpaces Stock Market Gains: What You Should Know
Macy's (M - Free Report) ended the recent trading session at $12.18, demonstrating a +1.33% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.65% for the day. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.48%.
Shares of the department store operator have appreciated by 4.07% over the course of the past month, outperforming the Retail-Wholesale sector's loss of 0.65% and the S&P 500's loss of 2.79%.
The upcoming earnings release of Macy's will be of great interest to investors. The company's earnings report is expected on November 16, 2023. The company is predicted to post an EPS of $0.02, indicating a 96.15% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.78 billion, indicating an 8.51% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.81 per share and a revenue of $23.06 billion, signifying shifts of -37.28% and -5.67%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Macy's. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% lower. Macy's is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Macy's is presently being traded at a Forward P/E ratio of 4.28. This denotes a discount relative to the industry's average Forward P/E of 7.85.
Also, we should mention that M has a PEG ratio of 0.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Retail - Regional Department Stores industry had an average PEG ratio of 0.75.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% 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.
To follow M in the coming trading sessions, be sure to utilize Zacks.com.