Brokers

Brokers Issue Forecasts for BJ’s Wholesale Club Holdings, Inc.’s Q3 2023 Earnings (NYSE:BJ)

BJ’s Wholesale Club Holdings, Inc. (NYSE:BJGet Rating) – Research analysts at Oppenheimer decreased their Q3 2023 earnings per share (EPS) estimates for BJ’s Wholesale Club in a research report issued on Thursday, May 19th. Oppenheimer analyst R. Parikh now anticipates that the company will earn $0.78 per share for the quarter, down from their prior forecast of $0.88.

Several other analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on BJ’s Wholesale Club from $70.00 to $74.00 in a report on Friday. Credit Suisse Group decreased their price objective on BJ’s Wholesale Club from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, March 4th. Finally, Citigroup raised their price objective on BJ’s Wholesale Club from $58.00 to $63.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.90.

Shares of NYSE BJ opened at $57.39 on Friday. The business has a 50-day simple moving average of $65.52 and a two-hundred day simple moving average of $64.22. BJ’s Wholesale Club has a 52 week low of $43.25 and a 52 week high of $74.09. The company has a market cap of $7.76 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.09 and a beta of 0.51. The company has a quick ratio of 0.14, a current ratio of 0.76 and a debt-to-equity ratio of 1.16. BJ’s Wholesale Club (NYSE:BJGet Rating) last posted its quarterly earnings results on Thursday, May 19th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.15. BJ’s Wholesale Club had a return on equity of 84.80% and a net margin of 2.56%. The company had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year.

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In related news, Director Kenneth M. Parent sold 35,004 shares of the stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $67.42, for a total value of $2,359,969.68. Following the transaction, the director now owns 14,143 shares of the company’s stock, valued at $953,521.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP boosted its position in shares of BJ’s Wholesale Club by 0.8% in the 1st quarter. First Trust Advisors LP now owns 115,218 shares of the company’s stock worth $3,157,000 after purchasing an additional 955 shares in the last quarter. Morgan Stanley boosted its position in shares of BJ’s Wholesale Club by 679.9% in the 2nd quarter. Morgan Stanley now owns 1,061,319 shares of the company’s stock worth $50,499,000 after purchasing an additional 925,238 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of BJ’s Wholesale Club by 3.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 26,646 shares of the company’s stock worth $1,463,000 after purchasing an additional 909 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of BJ’s Wholesale Club by 8.6% in the 3rd quarter. CIBC Asset Management Inc now owns 5,545 shares of the company’s stock worth $305,000 after purchasing an additional 441 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of BJ’s Wholesale Club by 22.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 22,122 shares of the company’s stock worth $1,215,000 after purchasing an additional 4,015 shares in the last quarter. 99.98% of the stock is currently owned by institutional investors and hedge funds.

About BJ’s Wholesale Club (Get Rating)

BJ’s Wholesale Club Holdings, Inc, together with its subsidiaries, operates warehouse clubs on the east coast of the United States. It provides perishable, general merchandise, gasoline, and other ancillary services. The company sells its products through the websites BJs.com, BerkleyJensen.com, Wellsleyfarms.com, and Delivery.bjs.com as well as the mobile app.

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Earnings History and Estimates for BJ's Wholesale Club (NYSE:BJ)

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