BJ’s Wholesale Club (NYSE:BJ) Issues FY 2024 Earnings Guidance

BJ’s Wholesale Club (NYSE:BJ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.900-4.000 for the period, compared to the consensus estimate of 3.840. The company issued revenue guidance of -. BJ’s Wholesale Club also updated its Q4 guidance to $0.78-0.88 EPS.

BJ’s Wholesale Club Stock Performance

NYSE BJ opened at $85.69 on Thursday. The stock has a fifty day simple moving average of $85.29 and a 200 day simple moving average of $85.15. BJ’s Wholesale Club has a twelve month low of $63.73 and a twelve month high of $92.37. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 4.19 and a beta of 0.24. The company has a quick ratio of 0.15, a current ratio of 0.76 and a debt-to-equity ratio of 0.24.

BJ’s Wholesale Club (NYSE:BJ) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. BJ’s Wholesale Club had a return on equity of 36.12% and a net margin of 2.62%. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the company earned $0.97 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that BJ’s Wholesale Club will post 3.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of BJ’s Wholesale Club from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $76.00 to $78.00 in a research note on Monday, August 26th. Melius Research initiated coverage on BJ’s Wholesale Club in a research report on Monday, September 23rd. They issued a “buy” rating and a $90.00 price objective for the company. Bank of America cut their target price on BJ’s Wholesale Club from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Roth Mkm lifted their target price on BJ’s Wholesale Club from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company increased their price target on BJ’s Wholesale Club from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.07.

Insider Buying and Selling

In other news, SVP Joseph Mcgrail sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $83.57, for a total value of $83,570.00. Following the completion of the sale, the senior vice president now owns 13,566 shares in the company, valued at $1,133,710.62. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert W. Eddy sold 11,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $85.47, for a total transaction of $940,170.00. Following the transaction, the chief executive officer now directly owns 423,792 shares in the company, valued at $36,221,502.24. The trade was a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,000 shares of company stock worth $2,818,390 in the last quarter. Insiders own 2.00% of the company’s stock.

About BJ’s Wholesale Club

BJ's Wholesale Club Holdings, Inc, together with its subsidiaries, operates warehouse clubs on the eastern half of the United States. It provides groceries, general merchandise, gasoline and other ancillary services, coupon books, and promotions. The company sells its products through the websites BJs.com, BerkleyJensen.com, and Wellsleyfarms.com, as well as the mobile app.