These Analysts Slash Their Forecasts On BJ's Wholesale Club After Q2 Results
Portfolio Pulse from Lisa Levin
BJ's Wholesale Club Holdings Inc reported Q2 FY23 sales decline of 2.9% YoY to $4.96 billion, missing the analyst consensus of $5.15 billion. Adjusted EPS of $0.97 beat the analyst consensus of $0.90. The company expects FY23 EPS of $3.80-$3.92. Following the earnings announcement, B of A Securities, UBS, and Morgan Stanley lowered their price targets on BJ's Wholesale. The company's shares fell 5.1% to close at $66.16 on Tuesday.
August 23, 2023 | 1:24 pm
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NEGATIVE IMPACT
BJ's Wholesale reported a Q2 sales decline and missed analyst consensus, but beat EPS consensus. Price targets were lowered by B of A Securities, UBS, and Morgan Stanley. Shares fell 5.1%.
The company reported a decline in sales and missed analyst consensus, which is a negative signal. However, it beat the EPS consensus, which is a positive signal. The lowering of price targets by several analysts indicates a negative outlook for the stock. The 5.1% fall in share price reflects the market's reaction to these factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100