BJ's Wholesale Stock Down Ahead of Q3 Earnings: Retail Sentiment Slips
By Stocktwits Inc | First Published Nov 21, 2024, 4:18 PM ISTWall Street analysts expect the company to post Earnings Per Share (EPS) of $0.93 on revenue of $5.12 billion.
Shares of BJ's Wholesale Club Holdings Inc. ($BJ) were down more than 1% on Wednesday afternoon ahead of the company’s third-quarter earnings, pushing down retail sentiment.
BJs wholesale, which operates members-only discount retail stores, is due to report earnings on November 21 before the markets open.
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Wall Street analysts expect the company to post Earnings Per Share (EPS) of $0.93 on revenue of $5.12 billion. The company beat estimates in all four of the last four quarters.
Retail sentiment on the stock fell to ‘bearish’ (42/100) from neutral (47/100). While the message volumes climbed to 'extremely hig'h levels.
Earlier this week, UBS analyst Mark Carden raised the firm's price target to $102 from $94, and kept a ‘Buy’ rating on the shares, the Fly.com reported.
Jefferies has also raised the firm's price target to $105 from $95 and has a ‘Buy’ rating; the brokerage firm expects the company to post "solid results."
Meanwhile, BofA also increased its price target to $100 from $90 while keeping a Buy rating, which the firm based on a “rolled forward FY27 EPS estimate” of $4.70, forecasts Q3 EPS of 91c, versus the consensus estimates at 92c.
Other retailers reporting earnings this week include Target Corp. ($TGT ) whose third-quarter earnings missed Wall Street estimates while its full-year guidance revision disappointed investors, and Walmart ($WMT), which beat consensus estimates on both EPS and revenues.
BJ’s has made some senior leadership appointments recently, promoting Scott Schmadeke to executive vice president, chief operations officer. While Krystyna Kostka, senior vice president, operations, was named chief supply chain officer.
Some Stocktwits users were optimistic on the stock, with one user speculating it might touch $100 soon.
BJ stock is up 26.83% year to date.
For updates and corrections, email newsroom at stocktwits.com.<
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