Macy’s Inc Could Decline a Lot According to The Today’s Call Option Activity

 Macy's Inc Could Decline a Lot According to The Today's Call Option Activity

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. The stock increased 0.77% or $0.28 on October 4, hitting $36.56. About 4.31M 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 21.76 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 40.37% above today’s ($36.56) stock price. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital on Wednesday, February 24 with “Underweight”. Gilford Securities upgraded the stock to “Neutral” rating in Wednesday, September 9 report. The firm has “Buy” rating by Standpoint Research given on Monday, August 24. The rating was downgraded by OTR Global to “Negative” on Wednesday, November 4. The stock of Macy’s Inc (NYSE:M) earned “Mkt Perform” rating by Keefe Bruyette & Woods on Wednesday, October 21. On Tuesday, October 20 the stock rating was maintained by Barclays Capital with “Overweight”. The rating was maintained by Macquarie Research with “Buy” on Saturday, August 15. Stifel Nicolaus maintained the shares of M in a report on Friday, August 14 with “Buy” rating. Stifel Nicolaus maintained Macy’s Inc (NYSE:M) on Thursday, November 12 with “Buy” rating. Deutsche Bank maintained Macy’s Inc (NYSE:M) on Monday, August 17 with “Sell” rating.

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 $11.04 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 14.68 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.

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