Macy's Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Macy's, Inc. M will release its third-quarter financial results, before the opening bell, on Wednesday, Dec. 11.

Analysts expect the New York-based retailer to report quarterly earnings at 3 cents per share, down from 21 cents per share in the year-ago period. Macy's projects quarterly revenue of $4.72 billion, compared to $4.86 billion a year earlier, according to data from Benzinga Pro.

Macy's shares closed at $16.72 on Tuesday.

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.

• Telsey Advisory Group analyst Dana Telsey maintained the stock with a Market Perform rating a a price target of $17 on Nov. 26. This analyst has an accuracy rate of 67%.
• Morgan Stanley analyst Alex Straton maintained an Equal-Weight rating and cut the price target from $18 to $17 on Aug. 22. This analyst has an accuracy rate of 80%.
• Evercore ISI Group analyst Michael Binetti maintained an In-Line rating and cut the price target from $22 to $17 on July 16. This analyst has an accuracy rate of 61%.
• TD Cowen analyst Adam Maeder maintained a Hold rating and boosted the price target from $20 to $21 on May 22. This analyst has an accuracy rate of 62%.
• JP Morgan analyst Matthew Boss maintained an Overweight rating and increased the price target from $25 to $27 on May 22. This analyst has an accuracy rate of 73%.

Considering buying Macy’s stock? Here’s what analysts think:

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