Macy’s Inc Can Burn Your Long Portfolio. Option Traders Are Bearish

 Macy's Inc Can Burn Your Long Portfolio. Option 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 867,275 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 21.61 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 41.38% above today’s ($36.3) stock price. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Thursday, May 12 the stock rating was maintained by Telsey Advisory Group with “Market Perform”. The firm has “Neutral” rating by Citigroup given on Wednesday, October 7. On Friday, August 12 the stock rating was downgraded by Macquarie Research to “Neutral”. The firm earned “Buy” rating on Friday, August 14 by Stifel Nicolaus. The firm earned “Strong-Buy” rating on Wednesday, August 12 by Vetr. The firm has “Mkt Perform” rating by Keefe Bruyette & Woods given on Wednesday, October 21. The rating was downgraded by Northcoast to “Neutral” on Thursday, May 12. The stock has “Underweight” rating given by Atlantic Securities on Friday, July 24. The rating was downgraded by JP Morgan on Wednesday, August 12 to “Neutral”. Cowen & Co maintained the stock with “Market Perform” rating in Thursday, November 12 report.

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 $10.96 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 14.58 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.

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