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 554,517 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 $126.84 million for 21.60 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 41.42% above today’s ($36.29) 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 Stifel Nicolaus with “Buy” on Thursday, November 12. The firm earned “Equal-Weight” rating on Thursday, November 12 by Morgan Stanley. Morgan Stanley maintained it with “Equal-Weight” rating and $35 target price in Thursday, May 12 report. The firm earned “Market Perform” rating on Thursday, August 13 by Telsey Advisory Group. The rating was reinitiated by JP Morgan on Thursday, January 21 with “Neutral”. The company was downgraded on Monday, January 11 by Goldman Sachs. UBS maintained it with “Neutral” rating and $40 target price in Friday, August 12 report. The company was maintained on Friday, October 9 by Deutsche Bank. Telsey Advisory Group maintained Macy’s Inc (NYSE:M) on Thursday, November 12 with “Market Perform” rating. The stock of Macy’s Inc (NYSE:M) has “Buy” rating given on Friday, August 14 by Stifel Nicolaus.
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 14.57 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.
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