Macy's (M) closed the most recent trading day at $15.26, moving -1.48% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.39%. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.6%.
Heading into today, shares of the department store operator had lost 4.26% over the past month, lagging the Retail-Wholesale sector's gain of 1.99% and the S&P 500's gain of 1.06% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Macy's in its upcoming earnings disclosure. The company's earnings report is set to go public on November 26, 2024. On that day, Macy's is projected to report earnings of $0 per share, which would represent a year-over-year decline of 100%. Our most recent consensus estimate is calling for quarterly revenue of $4.74 billion, down 2.49% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.72 per share and a revenue of $22.15 billion, signifying shifts of -22.29% and -4.1%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Macy's. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. Macy's is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Macy's is currently being traded at a Forward P/E ratio of 5.69. Its industry sports an average Forward P/E of 9.94, so one might conclude that Macy's is trading at a discount comparatively.
The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 77, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
