Here’s why Macy’s is down big

Macy’s Inc (M) is lower by -18.62% while the S&P 500 is up 0.03% as of 12:01 PM on Thursday, Jan 10. M is lower by -$5.90 from the previous closing price of $31.71 on volume of 25,541,092 shares. Over the past year the S&P 500 is lower by -5.92% while Macy’s Inc is up 0.82%. M earned $5.49 a share in the most-recent quarter, giving it a price-to-earnings ratio of 4.7.

Macy’s reported holiday sales today that fell short of estimates. The company also lowered 2019 earnings per share expectations to $3.95-$4.00, falling short of Wall Street’s $4.23 consensus. Following Macy’s updated guidance, M was downgraded from ‘Buy’ to ‘Hold’ at Gordon Haskett and downgraded from ‘Neutral’ to ‘Underperform’ at Bank of America Merrill Lynch.

Stock Score Report, InvestorsObserver’s proprietary scoring system gives M a score of 52 out of a possible 100. That score is based on three component scores. A fundamental score of 67, a long-term technical score of 64 and a short-term technical score of 24. Our proprietary system combines short and long-term technical factors, Wall Street’s opinion, and other fundamental factors into an overall score that measures a stock’s suitability for investment.

The major indices are up. The Dow Jones Industrial Average has gained 0.18% to 23,922.32. The NASDAQ is up 0.11% to 6,964.86. The S&P 500 is higher by 0.03% to 2,585.61

Symbols: M

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