BJ’s Wholesale Club (NYSE:BJ) Releases Fiscal 2022 Earnings Forecast

BJ’s Wholesale Club (NYSE:BJ – Get Rating) released an update to its fiscal 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $3.70 to $3.80 for the period, versus consensus EPS estimate of $3.61. The company released a revenue forecast of -. BJ’s Wholesale Club also updated its forecast for FY23 to EPS $3.70-3.80.

Big BJ Club Stock Performance

Shares of BJ’s Wholesale Club were down $4.35 during Thursday trading hours, hitting $74.01. The company had a trading volume of 5,981,066 shares, compared to an average volume of 1,907,685 shares. BJ’s Wholesale Club has a one-year minimum of $51.45 and a one-year maximum of $80.41. The company has a fifty-day simple moving average of $75.02 and a 200-day simple moving average of $68.86. The company has a debt ratio of 0.82, a current ratio of 0.73 and a quick ratio of 0.17. The company has a market capitalization of $10.00 billion, a PE ratio of 20.85, a price-to-earnings growth ratio of 2.35 and a beta of 0.43.

BJ’s Wholesale Club (NYSE:BJ – Get Rating) last released its quarterly results on Thursday, August 18. The company reported EPS of $1.06 for the quarter, beating analyst consensus estimates of $0.83 by $0.23. BJ’s Wholesale Club achieved a return on equity of 71.47% and a net margin of 2.68%. The company posted revenue of $5.10 billion in the quarter, versus analyst estimates of $4.63 billion. During the same period last year, the company earned earnings per share of $0.82. The company’s revenue for the quarter increased 22.2% year over year. On average, analysts expect BJ’s Wholesale Club to post 3.6 earnings per share for the current fiscal year.

Wall Street analysts predict growth

A number of equity research analysts have weighed in on BJ shares. Morgan Stanley raised its price target on BJ’s Wholesale Club from $65.00 to $71.00 and gave the company an equal weight rating in a Friday, August 19 research report. Deutsche Bank Aktiengesellschaft raised its price target on BJ’s Wholesale Club from $86.00 to $90.00 in a Friday, November 11 research report. Robert W. Baird raised his price target on BJ’s Wholesale Club from $77.00 to $85.00 and gave the company an outperform rating in a Friday, August 19 research report. MKM Partners raised its price target on BJ’s Wholesale Club from $56.00 to $63.00 and gave the company a neutral rating in a Friday, August 19 research report. Finally, Citigroup raised its price target on BJ’s Wholesale Club to $81.00 in a Monday, August 22 research report. One financial analyst gave the stock a sell rating, three gave the company a hold rating and ten gave the company a buy rating. According to MarketBeat, the company currently has a Moderate Buy consensus rating and a consensus target price of $79.00.

Insider buying and selling

In related news, Executive Vice President Scott Kessler sold 13,359 shares of the company in a trade that took place on Thursday, September 15. The shares were sold at an average price of $76.36, for a total value of $1,020,093.24. Following completion of the transaction, the executive vice president now directly owns 116,791 shares of the company, valued at approximately $8,918,160.76. The sale was disclosed in a document filed with the SEC, which is available via this hyperlink. In related news, Executive Vice President Scott Kessler sold 13,359 shares of the company in a trade that took place on Thursday, September 15. The shares were sold at an average price of $76.36, for a total value of $1,020,093.24. Following completion of the transaction, the executive vice president now directly owns 116,791 shares of the company, valued at approximately $8,918,160.76. The sale was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, SVP Graham Luce sold 3,286 shares of the company in a trade that took place on Friday, August 19. The stock was sold at an average price of $74.61, for a total transaction of $245,168.46. Following the completion of the transaction, the senior vice president now owns 28,186 shares of the company, valued at $2,102,957.46. The disclosure of this sale can be found here. 2.10% of the shares are held by insiders of the company.

Institutional investors weigh in on BJ’s wholesale club

Hedge funds have recently increased or reduced their holdings in the stock. Cambridge Investment Research Advisors Inc. bought a new stake in shares of BJ’s Wholesale Club in Q1 worth $268,000. HighTower Advisors LLC increased its stake in BJ’s Wholesale Club shares by 44.3% in Q1. HighTower Advisors LLC now owns 7,180 shares of the company worth $487,000 after purchasing 2,203 additional shares in the last quarter. PNC Financial Services Group Inc. increased its stake in BJ’s Wholesale Club shares by 104.7% in Q1. PNC Financial Services Group Inc. now owns 10,961 shares of the company worth $741,000 after purchasing an additional 5,607 shares in the last quarter. Bank of Montreal Can increased its stake in BJ’s Wholesale Club shares by 7.4% in Q1. Bank of Montreal Can now owns 12,440 shares of the company worth $843,000 after buying 862 more shares last quarter. Finally, Great West Life Assurance Co. Can increased its stake in BJ’s Wholesale Club shares by 7.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 74,006 shares of the company worth $5,143,000 after buying an additional 5,272 shares last quarter. 98.26% of the shares are currently held by hedge funds and other institutional investors.

About BJ’s Wholesale Club

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BJ’s Wholesale Club Holdings, Inc, together with its subsidiaries, operates warehouse clubs on the East Coast of the United States. It provides perishables, general merchandise, gasoline and other ancillary services. The Company sells its products through the BJs.com, BerkleyJensen.com, Wellsleyfarms.com and Delivery.bjs.com websites and mobile application.

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