Macy’s Inc Unusual Bearish Options Activity Means Higher Risks

 Macy's Inc Unusual Bearish Options Activity Means Higher Risks

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 1.12M 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 21.58 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 41.53% above today’s ($36.26) stock price. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was downgraded by Northland Capital on Thursday, May 12 to “Neutral”. The stock of Macy’s Inc (NYSE:M) earned “Neutral” rating by JP Morgan on Thursday, January 21. The rating was downgraded by Keefe Bruyette & Woods on Wednesday, October 21 to “Mkt Perform”. FBR Capital maintained Macy’s Inc (NYSE:M) on Wednesday, January 20 with “Mkt Perform” rating. Atlantic Securities upgraded the shares of M in a report on Thursday, September 10 to “Neutral” rating. The stock has “Neutral” rating given by Northcoast on Thursday, May 12. The rating was initiated by Sterne Agee CRT with “Neutral” on Thursday, August 20. The rating was upgraded by Citigroup to “Buy” on Wednesday, September 14. The stock has “Sell” rating given by Deutsche Bank on Tuesday, August 25. As per Thursday, November 12, the company rating was downgraded by Evercore.

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 $10.95 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 14.56 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.

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