Macy’s Inc’s Stock Is Sell After Today’s Bearish Options Activity

 Macy's Inc's Stock Is Sell After Today's Bearish Options 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. About 1.67M 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 $126.90M for 21.57 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 41.65% above today’s ($36.23) stock price. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Macy’s Inc (NYSE:M) on Thursday, May 12 with “Sector Perform” rating. The stock of Macy’s Inc (NYSE:M) earned “Neutral” rating by Gilford Securities on Wednesday, September 9. UBS maintained Macy’s Inc (NYSE:M) rating on Friday, August 12. UBS has “Neutral” rating and $40 price target. The rating was upgraded by Deutsche Bank on Tuesday, August 25 to “Sell”. The stock has “Buy” rating given by Northcoast on Thursday, November 12. Atlantic Securities upgraded the stock to “Neutral” rating in Thursday, September 10 report. The rating was maintained by Telsey Advisory Group with “Market Perform” on Wednesday, February 24. Barclays Capital maintained the shares of M in a report on Tuesday, October 20 with “Overweight” rating. Northcoast downgraded Macy’s Inc (NYSE:M) on Thursday, May 12 to “Neutral” rating. Telsey Advisory Group maintained the stock with “Market Perform” rating in Friday, August 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 $10.94 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 14.55 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.

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