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 2.91 million 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 earnings per share, down 25.00% or $0.14 from last year’s $0.56 per share. M’s profit will be $126.81M for 21.67 P/E if the $0.42 EPS becomes a reality. After $0.54 actual earnings per share 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 40.99% above today’s ($36.4) stock price. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Standpoint Research initiated the stock with “Buy” rating in Monday, August 24 report. The stock has “Neutral” rating given by UBS on Tuesday, October 20. UBS maintained it with “Neutral” rating and $43 target price in Thursday, November 12 report. The stock of Macy’s Inc (NYSE:M) earned “Market Perform” rating by Telsey Advisory Group on Thursday, August 13. The stock of Macy’s Inc (NYSE:M) has “Neutral” rating given on Friday, August 12 by Macquarie Research. The rating was downgraded by Stifel Nicolaus to “Hold” on Wednesday, February 24. As per Friday, December 4, the company rating was downgraded by Goldman Sachs. Goldman Sachs maintained it with “Neutral” rating and $39 target price in Friday, August 12 report. The stock has “Market Perform” rating given by Cowen & Co on Monday, October 26. As per Thursday, May 12, the company rating was maintained by Telsey Advisory Group.
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 $10.99 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 14.62 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.
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