Wall Street analysts forecast that Macy's (M) will report quarterly earnings of $0.19 per share in its upcoming release, pointing to a year-over-year decline of 64.2%. It is anticipated that revenues will amount to $4.74 billion, exhibiting a decrease of 4% compared to the year-ago quarter.
The current level reflects an upward revision of 8.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Macy's metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Net Sales' should come in at $4.73 billion. The estimate indicates a change of -4.3% from the prior-year quarter.
The consensus among analysts is that 'Net Sales- Other Revenue' will reach $180.64 million. The estimate indicates a change of +13.6% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Other Revenue- Macy's Media Network revenue, net' at $40.43 million. The estimate points to a change of +18.9% from the year-ago quarter.
Analysts predict that the 'Store Count - End of Period - Bluemercury' will reach 173 . Compared to the current estimate, the company reported 157 in the same quarter of the previous year.
Analysts expect 'Macy's Stores - Boxes (EOP)' to come in at 452 . The estimate is in contrast to the year-ago figure of 506 .
The combined assessment of analysts suggests that 'Consolidated Number of stores' will likely reach 687 . The estimate is in contrast to the year-ago figure of 720 .
View all Key Company Metrics for Macy's here>>>
Macy's shares have witnessed a change of +4.5% in the past month, in contrast to the Zacks S&P 500 composite's +1.5% move. With a Zacks Rank #3 (Hold), M is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Macy's, Inc. (M): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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