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These Analysts Slash Their Forecasts On BJ's Wholesale Club After Q2 Results

Published 23/08/2023, 14:24
© Reuters. These Analysts Slash Their Forecasts On BJ's Wholesale Club After Q2 Results
BJ
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Benzinga - by Lisa Levin, Benzinga Editor. BJ's Wholesale Club Holdings Inc (NYSE: BJ) reported better-than-expected second-quarter earnings.

BJ's Wholesale Club reported a second-quarter FY23 sales decline of 2.9% year-on-year to $4.96 billion, missing the analyst consensus of $5.15 billion. Adjusted EPS of $0.97 beat the analyst consensus of $0.90.

BJ's Wholesale expects FY23 EPS of $3.80-$3.92 versus the consensus of $3.87. The company previously expected EPS to remain approximately flat year-over-year, including the 53rd-week benefit of low-teens cents per share. BJ currently expects FY23 comparable club sales growth, excluding the impact of gasoline sales, to grow 2% Y/Y.

BJ's Wholesale shares fell 5.1% to close at $66.16 on Tuesday.

These analysts made changes to their price targets on BJ's Wholesale following earnings announcement.

  • B of A Securities cut the price target on BJ's Wholesale from $85 to $80. B of A Securities analyst Robert Ohmes maintained a Buy rating.
  • UBS lowered the price target on BJ's Wholesale from $83 to $81. UBS analyst Mark Carden maintained a Buy rating.
  • Morgan Stanley cut the price target on BJ's Wholesale from $72 to $69. Morgan Stanley analyst Simeon Gutman maintained an Equal-Weight rating.
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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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