Analysts on Wall Street project that Macy's (M) will announce quarterly earnings of $0.14 per share in its forthcoming report, representing a decline of 48.2% year over year. Revenues are projected to reach $4.46 billion, declining 8% from the same quarter last year.
The current level reflects a downward revision of 3.7% 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.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Macy's metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Net Sales' reaching $4.45 billion. The estimate points to a change of -8.1% from the year-ago quarter.
Analysts predict that the 'Net Sales- Other Revenue' will reach $177.43 million. The estimate indicates a year-over-year change of +15.2%.
The combined assessment of analysts suggests that 'Net Sales- Other Revenue- Macy's Media Network revenue, net' will likely reach $43.74 million. The estimate points to a change of +18.2% from the year-ago quarter.
Analysts forecast 'Store Count - End of Period - Bluemercury' to reach 173. Compared to the current estimate, the company reported 158 in the same quarter of the previous year.
The consensus among analysts is that 'Macy's Stores - Boxes (EOP)' will reach 452. Compared to the present estimate, the company reported 503 in the same quarter last year.
The average prediction of analysts places 'Consolidated Number of stores' at 687. The estimate is in contrast to the year-ago figure of 718.
View all Key Company Metrics for Macy's here>>>
Over the past month, shares of Macy's have returned +8.2% versus the Zacks S&P 500 composite's +10.7% change. Currently, M carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market 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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