A Reversal for Macy’s Inc Is Not Near. Professional Options Traders Are Bearish

 A Reversal for Macy's Inc Is Not Near. Professional Options Traders Are Bearish

In today’s session Macy’s Inc (M) recorded an unusually high (2,036) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious M decrease. With 2,036 contracts traded and 1424 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: M161021P00036500 closed last at: $0.81 or 38.2% down. About 2.13M shares traded hands. Macy’s Inc (NYSE:M) has declined 16.98% since March 1, 2016 and is downtrending. It has underperformed by 26.22% the S&P500.

Analysts await Macy’s Inc (NYSE:M) to report earnings on November, 9. They expect $0.42 EPS, down 25.00% or $0.14 from last year’s $0.56 per share. M’s profit will be $126.83 million for 21.58 P/E if the $0.42 EPS becomes a reality. After $0.54 actual EPS reported by Macy’s Inc for the previous quarter, Wall Street now forecasts -22.22% negative EPS growth.

Macy’s Inc (NYSE:M) Ratings Coverage

Out of 27 analysts covering Macy’s Inc. (NYSE:M), 4 rate it a “Buy”, 2 “Sell”, while 21 “Hold”. This means 15% are positive. $139.0 is the highest target while $35 is the lowest. The $51.32 average target is 41.53% above today’s ($36.26) stock price. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Citigroup initiated Macy’s Inc (NYSE:M) on Wednesday, October 7 with “Neutral” rating. Atlantic Securities downgraded the stock to “Underweight” rating in Friday, July 24 report. The firm has “Buy” rating given on Saturday, August 15 by Macquarie Research. FBR Capital maintained the stock with “Mkt Perform” rating in Tuesday, October 20 report. As per Thursday, November 12, the company rating was upgraded by Northcoast. Credit Suisse maintained it with “Outperform” rating and $50 target price in Thursday, November 12 report. UBS maintained Macy’s Inc (NYSE:M) on Friday, August 12 with “Neutral” rating. Macquarie Research downgraded the stock to “Neutral” rating in Friday, August 12 report. The stock of Macy’s Inc (NYSE:M) has “Equal-Weight” rating given on Thursday, November 12 by Morgan Stanley. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, August 12.

Macy’s, Inc. is an omnichannel retail firm operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The company has a market cap of $10.95 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 14.56 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.

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