Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

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
-

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.
Read This Next: TJX, ON Semiconductor And 2 Other Stocks Insiders Are Selling

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.