What's Going On With Macy's Stock Ahead Of Q2 Earnings?

Traders and investors are watching for the Macy’s Inc M second-quarter earnings report, confirmed for Wednesday’s pre-market session. According to analyst consensus estimates, Macy’s is expected to report EPS of 29 cents on revenue of $5.118 billion.

Macy’s shares were volatile in July after the company ended discussions with Arkhouse Management and Brigade Capital, citing their proposal as lacking compelling value and certainty of financing.

Despite extensive diligence and negotiation since December 2023, Arkhouse and Brigade failed to deliver a definitive, fully financed proposal by the deadline.

Macy’s last month said the company will now focus on its "A Bold New Chapter" strategy to boost shareholder value and will provide updates on its progress in the upcoming second-quarter earnings report.

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Is M A Good Stock To Buy?

When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.

Macy’s has reported average annual revenue growth of 9.58% over the past 5 years. Looking forward, the company most recently said it expects FY24 revenues of $55.80B.

It's also important to pay attention to valuation when deciding whether to buy a stock. Macy’s has a forward P/E ratio of 6.34. This means investors are paying $6.34 for each dollar of expected earnings in the future. The average forward P/E ratio of Macy’s's peers is 36.0.

Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out Benzinga PRO.

According to data from Benzinga Pro, M has a 52-week high of $22.10 and a 52-week low of $10.54.