Macy's Plunges 4.8% to $18.27 as EPS Forecast Slumps 13.9%
Macy's shares closed at $18.27, falling 4.79% after a 10.83% slide over the past month compared with a 2.54% sector decline. The company forecasts March 18 EPS of $1.55 (down 13.89% YoY) on $7.52 billion revenue, and holds a Zacks Rank #4.
1. Share Price Performance
Macy's stock closed at $18.27, down 4.79% from the prior session, underperforming the S&P 500’s 1.33% decline, the Nasdaq’s 1.59% drop and the Dow’s 0.95% fall. The shares have lost 10.83% over the past month versus a 2.54% decline for the Retail-Wholesale sector and a 0.58% gain for the S&P 500.
2. Upcoming Earnings Forecast
The company is set to release fourth-quarter results on March 18, projecting EPS of $1.55, a 13.89% year-over-year decrease, on revenue of $7.52 billion, down 3.14% from the year-ago quarter.
3. Analyst Estimates and Zacks Ranking
Full-year consensus estimates call for EPS of $2.20 (down 16.67%) and revenue of $21.65 billion (down 2.89%). EPS estimates have fallen 3.91% over 30 days, contributing to a Zacks Rank #4 (Sell) on Macy's.
4. Valuation Metrics and Industry Position
Macy's trades at a forward P/E of 8.92 compared with an industry average of 12.07, reflecting a valuation discount. Its Retail-Regional Department Stores industry ranks 227th out of 250, placing it in the bottom 8% of all industries.