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Macy's (M) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2 min read

Macy's (M) closed at $6.20 in the latest trading session, marking a +1.47% move from the prior day. This move outpaced the S&P 500's daily gain of 1.2%. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 1.64%.

Coming into today, shares of the department store operator had gained 7.19% in the past month. In that same time, the Retail-Wholesale sector gained 1.34%, while the S&P 500 lost 2.23%.

Investors will be hoping for strength from M as it approaches its next earnings release, which is expected to be November 19, 2020. On that day, M is projected to report earnings of -$0.81 per share, which would represent a year-over-year decline of 1257.14%. Our most recent consensus estimate is calling for quarterly revenue of $3.84 billion, down 25.76% from the year-ago period.

M's full-year Zacks Consensus Estimates are calling for earnings of -$3.84 per share and revenue of $16.72 billion. These results would represent year-over-year changes of -231.96% and -31.92%, respectively.

Any recent changes to analyst estimates for M should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 3.83% higher within the past month. M currently has a Zacks Rank of #3 (Hold).

The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 18% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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