Macquarie (MIC) closed the most recent trading day at $36.56, moving +0.41% from the previous trading session. This change lagged the S&P 500’s 0.85% gain on the day. Meanwhile, the Dow gained 1.15%, and the Nasdaq, a tech-heavy index, added 0.77%.
Heading into today, shares of the investment firm had lost 11.33% over the past month, lagging the Conglomerates sector’s loss of 8.46% and the S&P 500’s loss of 9.35% in that time.
Investors will be hoping for strength from MIC as it approaches its next earnings release, which is expected to be February 20, 2019. Our most recent consensus estimate is calling for quarterly revenue of $453.40 million, down 3.78% from the year-ago period.
Investors might also notice recent changes to analyst estimates for MIC. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. MIC is currently a Zacks Rank #3 (Hold).
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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