Macy's (M) closed the most recent trading day at $15.72, moving -0.44% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.72%. At the same time, the Dow lost 1.62%, and the tech-heavy Nasdaq gained 0.01%.
Heading into today, shares of the department store operator had lost 17.16% over the past month, lagging the Retail-Wholesale sector's loss of 8.48% and the S&P 500's loss of 9.09% in that time.
Investors will be hoping for strength from Macy's as it approaches its next earnings release. On that day, Macy's is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 85.37%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.17 billion, down 4.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.13 per share and revenue of $24.46 billion. These totals would mark changes of -22.22% and +0.02%, respectively, from last year.
Any recent changes to analyst estimates for Macy's should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.21% higher. Macy's is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Macy's is currently trading at a Forward P/E ratio of 3.82. This represents a discount compared to its industry's average Forward P/E of 7.92.
Investors should also note that M has a PEG ratio of 0.32 right now. 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. M's industry had an average PEG ratio of 0.69 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 91, which puts it in the top 37% 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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Macy's, Inc. (M) : Free Stock Analysis Report
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