Macy’s Inc Is a Sell; Strong Momentum from Option Traders

 Macy's Inc Is a Sell; Strong Momentum from Option Traders

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 2.37M 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 $126.83M for 21.64 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 41.14% above today’s ($36.36) stock price. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Evercore downgraded the shares of M in a report on Thursday, November 12 to “Hold” rating. On Monday, January 11 the stock rating was downgraded by Goldman Sachs to “Neutral”. FBR Capital maintained Macy’s Inc (NYSE:M) on Tuesday, October 20 with “Mkt Perform” rating. The rating was maintained by Goldman Sachs on Friday, August 12 with “Neutral”. On Wednesday, August 12 the stock rating was downgraded by JP Morgan to “Neutral”. The firm has “Buy” rating given on Friday, August 14 by Stifel Nicolaus. The stock of Macy’s Inc (NYSE:M) has “Underweight” rating given on Wednesday, February 24 by Barclays Capital. The firm has “Buy” rating given on Monday, August 24 by Standpoint Research. The firm earned “Sell” rating on Tuesday, July 28 by Gilford Securities. As per Thursday, May 12, the company rating was downgraded by Northcoast.

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 $10.98 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 14.6 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.

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