BJ’s Wholesale Club (NYSE:BJ) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

BJ’s Wholesale Club (NYSE:BJGet Rating) released its quarterly earnings data on Thursday. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.15, Briefing.com reports. The business had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.24 billion. BJ’s Wholesale Club had a return on equity of 77.13% and a net margin of 2.65%. The company’s revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company posted $0.72 EPS. BJ’s Wholesale Club updated its FY23 guidance to flat yr/yr EPS.

BJ’s Wholesale Club stock opened at $52.29 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.80 and a quick ratio of 0.14. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.25 and a beta of 0.51. BJ’s Wholesale Club has a one year low of $43.81 and a one year high of $74.09. The company’s fifty day moving average price is $65.22 and its two-hundred day moving average price is $64.15.

BJ has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on BJ’s Wholesale Club from $70.00 to $74.00 in a report on Friday. Credit Suisse Group reduced their target price on BJ’s Wholesale Club from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, March 4th. Finally, Citigroup increased their target price on BJ’s Wholesale Club from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.90.

In other BJ’s Wholesale Club news, Director Kenneth M. Parent sold 35,004 shares of the stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $67.42, for a total transaction of $2,359,969.68. Following the transaction, the director now directly owns 14,143 shares of the company’s stock, valued at $953,521.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.10% of the company’s stock.

Several large investors have recently modified their holdings of BJ. Goldman Sachs Group Inc. grew its position in shares of BJ’s Wholesale Club by 145.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,422,594 shares of the company’s stock valued at $163,792,000 after purchasing an additional 1,436,785 shares during the last quarter. Eaton Vance Management grew its position in shares of BJ’s Wholesale Club by 323.5% in the first quarter. Eaton Vance Management now owns 1,719,134 shares of the company’s stock valued at $116,230,000 after purchasing an additional 1,313,206 shares during the last quarter. Morgan Stanley grew its position in shares of BJ’s Wholesale Club by 679.9% in the second quarter. Morgan Stanley now owns 1,061,319 shares of the company’s stock valued at $50,499,000 after purchasing an additional 925,238 shares during the last quarter. Invesco Ltd. grew its position in BJ’s Wholesale Club by 28.4% during the first quarter. Invesco Ltd. now owns 2,219,929 shares of the company’s stock worth $150,088,000 after buying an additional 491,047 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in BJ’s Wholesale Club by 1,729.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 266,643 shares of the company’s stock worth $18,028,000 after buying an additional 252,069 shares in the last quarter. 99.98% of the stock is currently owned by institutional investors.

About BJ’s Wholesale Club (Get Rating)

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

See Also

Earnings History for BJ's Wholesale Club (NYSE:BJ)

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