Analysts on Wall Street project that Macy's (M) will announce quarterly loss of -$0.14 per share in its forthcoming report, representing a decline of 450% year over year. Revenues are projected to reach $4.59 billion, declining 3.3% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 1.3% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
Bearing this in mind, let's now explore the average estimates of specific Macy's metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Revenue- Net Sales' at $4.59 billion. The estimate indicates a change of -3.3% from the prior-year quarter.
Analysts forecast 'Revenue- Other Revenue' to reach $187.08 million. The estimate indicates a year-over-year change of +16.2%.
Analysts expect 'Revenue- Other Revenue- Credit card revenues, net' to come in at $136.89 million. The estimate indicates a year-over-year change of +14.1%.
The consensus among analysts is that 'Revenue- Other Revenue- Macy's Media Network revenue, net' will reach $50.21 million. The estimate points to a change of +22.5% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Store Count - Bluemercury (EOP)' of 176 . Compared to the present estimate, the company reported 164 in the same quarter last year.
The consensus estimate for 'Store Count - Total Macy's (EOP)' stands at 451 . Compared to the current estimate, the company reported 512 in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Store Count - Consolidated Macy's, Inc. (EOP)' will likely reach 688 . The estimate compares to the year-ago value of 735 .
View all Key Company Metrics for Macy's here>>>
Shares of Macy's have demonstrated returns of +14.8% over the past month compared to the Zacks S&P 500 composite's +0.4% change. With a Zacks Rank #2 (Buy), M is expected to beat the overall market performance in the near future. 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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