Aggressive’ Bearish Options Activity Seen in Macy’s Inc

 Aggressive' Bearish Options Activity Seen in Macy's Inc

In today’s session Macy’s Inc (M) recorded an unusually high (689) 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 689 contracts traded and 14624 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: M161021P00036000 closed last at: $0.35 or 75% up. About 3.94 million shares traded hands. Macy’s Inc (NYSE:M) has declined 18.92% since March 14, 2016 and is downtrending. It has underperformed by 24.53% the S&P500.

Analysts await Macy’s Inc (NYSE:M) to report earnings on November, 9. They expect $0.42 earnings per share, down 25.00% or $0.14 from last year’s $0.56 per share. M’s profit will be $125.20M for 20.95 P/E if the $0.42 EPS becomes a reality. After $0.54 actual earnings per share 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. Macy’s Inc. has been the topic of 61 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Telsey Advisory Group maintained Macy’s Inc (NYSE:M) on Thursday, May 12 with “Market Perform” rating. The firm has “Neutral” rating given on Wednesday, September 28 by Credit Suisse. Standpoint Research initiated the shares of M in a report on Monday, August 24 with “Buy” rating. The firm earned “Market Perform” rating on Thursday, August 13 by Telsey Advisory Group. FBR Capital maintained the shares of M in a report on Wednesday, January 20 with “Mkt Perform” rating. The firm has “Buy” rating given on Wednesday, September 14 by Citigroup. Deutsche Bank maintained Macy’s Inc (NYSE:M) rating on Friday, August 12. Deutsche Bank has “Hold” rating and $40 price target. UBS maintained the stock with “Neutral” rating in Friday, August 12 report. Jefferies maintained the shares of M in a report on Monday, March 14 with “Hold” rating. The stock has “Market Perform” rating given by Cowen & Co on Thursday, November 12.

According to Zacks Investment Research, “Macy’s is one of the nation’s premier retailers, operating about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico, under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Prior to June 1, 2007, Macy’s was known as Federated Department Stores.”

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 $10.49 billion. The Firm sells a range of merchandise, including apparel and accessories , cosmetics, home furnishings and other consumer goods. It has a 14.13 P/E ratio. The Company’s subsidiaries provide various support functions to its retail operations.

M Company Profile

Macy’s, Inc., incorporated on December 13, 1985, is an omnichannel retail firm operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Firm sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods. The Company’s subsidiaries provide various support functions to its retail operations. The Company’s bank subsidiary, FDS Bank, provides credit processing, certain collections, customer service and credit marketing services in respect of various credit card accounts that are owned either by Department Stores National Bank (DSNB), a subsidiary of Citibank N.A., or FDS Bank and that constitutes a part of the credit programs of the Company’s retail operations. Macy’s Systems and Technology, Inc. (MST), a subsidiary of the Company, provides operational electronic data processing and management information services to all of the Company’s operations.

More notable recent Macy’s Inc (NYSE:M) news were published by: Marketwatch.com which released: “Macy’s adds electronics, including an Apple store, in time for holiday season” on October 17, 2016, also Investorplace.com with their article: “Why Macy’s Inc (M), HP Inc (HPQ) and Twitter Inc (TWTR) Are 3 of Today’s Worst …” published on October 14, 2016, Seekingalpha.com published: “Macy’s expected to open stores on Thanksgiving” on October 17, 2016. More interesting news about Macy’s Inc (NYSE:M) were released by: Reuters.com and their article: “BRIEF-Macy’s Inc board amended and restated Macy’s by-laws” published on September 30, 2016 as well as Schaeffersresearch.com‘s news article titled: “Macy’s Inc (M) Option Bulls Undeterred by Bearish Note” with publication date: October 14, 2016.

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