Macy's Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Macy’s, Inc. M is set to release earnings results for its first quarter, before the opening bell on May 21.

Analysts expect the New York-based company to report quarterly earnings at 14 cents per share, down from 56 cents per share in the year-ago period. Macy’s is projected to report quarterly revenue of $4.85 billion, according to data from Benzinga Pro.

On April 10, Macy's named Richard Clark and Richard L. Markee to Board of Directors.

Macy’s shares fell 2% to close at $19.10 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• JP Morgan analyst Matthew Boss maintained an Overweight rating and raised the price target from $23 to $25 on March 11. This analyst has an accuracy rate of 67%.
• TD Cowen analyst Adam Maeder downgraded the stock from Outperform to Market Perform and slashed the price target from $23 to $20 on Feb. 29. This analyst has an accuracy rate of 68%.
• Morgan Stanley analyst Alexandra Walvis maintained an Equal-Weight rating and cut the price target from $21 to $20 on Feb. 28. This analyst has an accuracy rate of 65%.
• Goldman Sachs analyst Brooke Roach maintained a Buy rating and boosted the price target from $16 to $22 on Feb. 28. This analyst has an accuracy rate of 60%.
• Citigroup analyst Paul Lejuez upgraded the stock from Sell to Neutral and raised the price target from $14 to $18 on Feb. 2. This analyst has an accuracy rate of 66%.

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