In the latest trading session, Macy's (M) closed at $15.70, marking a -2% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.05%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.18%.

Heading into today, shares of the department store operator had gained 5.74% over the past month, outpacing the Retail-Wholesale sector's gain of 1.71% and the S&P 500's gain of 2.76% in that time.

The investment community will be closely monitoring the performance of Macy's in its forthcoming earnings report. The company's upcoming EPS is projected at $0, signifying a 100% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.74 billion, down 2.56% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.72 per share and revenue of $22.14 billion, which would represent changes of -22.29% and -4.12%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Macy's. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Macy's is holding a Zacks Rank of #4 (Sell) right now.

Looking at valuation, Macy's is presently trading at a Forward P/E ratio of 5.88. This represents a discount compared to its industry's average Forward P/E of 11.64.

The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.