Macy's (M) closed at $15.67 in the latest trading session, marking a -1.07% move from the prior day. This change was narrower than the S&P 500's 1.51% loss on the day. Meanwhile, the Dow lost 1.71%, and the Nasdaq, a tech-heavy index, lost 0.02%.Coming into today, shares of the department store operator had lost 7.15% in the past month. In that same time, the Retail-Wholesale sector lost 8.68%, while the S&P 500 lost 9.52%.Macy's will be looking to display strength as it nears its next earnings release. On that day, Macy's is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 85.37%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.17 billion, down 4.92% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.13 per share and revenue of $24.46 billion. These totals would mark changes of -22.22% and +0.02%, respectively, from last year.Investors should also note any recent changes to analyst estimates 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Macy's is holding a Zacks Rank of #3 (Hold) right now.Investors should also note Macy's's current valuation metrics, including its Forward P/E ratio of 3.84. This valuation marks a discount compared to its industry's average Forward P/E of 7.24.We can also see that M currently has a PEG ratio of 0.32. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. M's industry had an average PEG ratio of 0.66 as of yesterday's close.The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions. This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Macy's, Inc. (M): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research