Canada markets open in 1 hour 33 minutes
  • S&P/TSX

    19,669.17
    +49.07 (+0.25%)
     
  • S&P 500

    4,140.06
    -5.13 (-0.12%)
     
  • DOW

    32,832.54
    +29.04 (+0.09%)
     
  • CAD/USD

    0.7773
    -0.0003 (-0.04%)
     
  • CRUDE OIL

    91.79
    +1.03 (+1.13%)
     
  • BTC-CAD

    29,926.78
    -1,300.71 (-4.17%)
     
  • CMC Crypto 200

    539.87
    -3.01 (-0.55%)
     
  • GOLD FUTURES

    1,807.00
    +1.80 (+0.10%)
     
  • RUSSELL 2000

    1,941.21
    +19.39 (+1.01%)
     
  • 10-Yr Bond

    2.7650
    0.0000 (0.00%)
     
  • NASDAQ futures

    13,092.25
    -91.00 (-0.69%)
     
  • VOLATILITY

    21.94
    +0.79 (+3.74%)
     
  • FTSE

    7,482.54
    +0.17 (+0.00%)
     
  • NIKKEI 225

    27,999.96
    -249.28 (-0.88%)
     
  • CAD/EUR

    0.7602
    -0.0024 (-0.31%)
     

Strength Seen in Macy's (M): Can Its 9.9% Jump Turn into More Strength?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Macy's M shares rallied 9.9% in the last trading session to close at $20.96. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.8% loss over the past four weeks.

Macy’s has been benefitting from successful execution of Polaris strategy, robust omni-channel capabilities, curated merchandise assortment and accelerated rate of customer acquisition. Macy's digital business remain one of the major revenue drivers. The company has been undertaking a host of initiatives to provide customers a seamless shopping experience.

This department store operator is expected to post quarterly earnings of $0.89 per share in its upcoming report, which represents a year-over-year change of -31%. Revenues are expected to be $5.53 billion, down 2.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Macy's, the consensus EPS estimate for the quarter has been revised 11.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on M going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Macy's is part of the Zacks Retail - Regional Department Stores industry. Dillard's DDS, another stock in the same industry, closed the last trading session 6.6% higher at $259.85. DDS has returned -14.6% in the past month.

For Dillard's , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.20. This represents a change of -63.7% from what the company reported a year ago. Dillard's currently has a Zacks Rank of #1 (Strong Buy).


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting