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Macy's (M) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research

Macy's (M) closed at $6.52 in the latest trading session, marking a -0.46% move from the prior day. This move lagged the S&P 500's daily loss of 0.44%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.57%.

Prior to today's trading, shares of the department store operator had lost 3.68% over the past month. This has lagged the Retail-Wholesale sector's gain of 9.19% and the S&P 500's gain of 5.27% in that time.

Wall Street will be looking for positivity from M as it approaches its next earnings report date. This is expected to be September 2, 2020. The company is expected to report EPS of -$1.86, down 764.29% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.51 billion, down 36.7% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.55 per share and revenue of $16.96 billion, which would represent changes of -256.36% and -30.96%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for M. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 1.12% higher. M is currently a Zacks Rank #4 (Sell).

The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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