Why Macy's Stock Is Down Today
Shares of Macy's (NYSE: M) were trading lower on Monday, after an analyst revised his full-year earnings estimate sharply lower on concerns about the company's likely performance in the second half of 2020.
As of 1:30 p.m. EDT, Macy's shares were down about 3.9% from Friday's closing price.
In a note on Monday, Cleveland Research analyst Rusty Wilson cut his full-year earnings per share (EPS) estimate for Macy's from a profit of $0.16 per share to a loss of $1.50 per share, while maintaining the equivalent of a sell rating on its shares.
Source Fool.com
