Brokerages Expect Wayfair Inc. (W) to Announce -$0.69 Earnings Per Share
Brokerages predict that Wayfair Inc. (NYSE:W) will report earnings per share of ($0.69) for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Wayfair’s earnings. The highest EPS estimate is ($0.52) and the lowest is ($0.75). Wayfair reported earnings per share of ($0.57) in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.1%. The firm is expected to announce its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Wayfair will report full-year earnings of ($2.43) per share for the current financial year, with EPS estimates ranging from ($2.88) to ($1.96). For the next year, analysts forecast that the business will report earnings of ($1.66) per share, with EPS estimates ranging from ($2.10) to ($1.13). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Wayfair.
Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.32. Wayfair had a negative net margin of 5.84% and a negative return on equity of 215.36%. The firm had revenue of $960.80 million for the quarter, compared to analysts’ expectations of $934.84 million. During the same quarter last year, the company earned ($0.36) EPS. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year.
Several analysts have weighed in on the company. Maxim Group lowered Wayfair from a “buy” rating to a “hold” rating and upped their target price for the company from $27.60 to $76.17 in a report on Monday. They noted that the move was a valuation call. Piper Jaffray Companies reissued an “overweight” rating and issued a $87.00 target price (up previously from $70.00) on shares of Wayfair in a report on Wednesday, June 14th. CIBC raised Wayfair from a “market perform” rating to an “outperform” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. raised Wayfair from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered Wayfair from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $56.90.
Wayfair (W) traded down 1.22% during midday trading on Monday, reaching $75.24. 356,032 shares of the company were exchanged. The company has a 50 day moving average of $62.71 and a 200-day moving average of $45.51. The company’s market capitalization is $6.52 billion. Wayfair has a 52-week low of $27.60 and a 52-week high of $76.54.
In related news, SVP John Champlin Mulliken sold 575 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $44.28, for a total value of $25,461.00. Following the sale, the senior vice president now owns 233,733 shares of the company’s stock, valued at approximately $10,349,697.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Steve Oblak sold 650 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $40.32, for a total value of $26,208.00. Following the completion of the sale, the senior vice president now directly owns 115,605 shares in the company, valued at approximately $4,661,193.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,979 shares of company stock valued at $22,269,264. 63.94% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in W. Spruce House Investment Management LLC purchased a new stake in Wayfair during the first quarter worth approximately $101,225,000. Columbia Wanger Asset Management LLC purchased a new stake in Wayfair during the first quarter worth approximately $42,729,000. Alyeska Investment Group L.P. increased its stake in Wayfair by 199.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 751,240 shares of the company’s stock worth $26,331,000 after buying an additional 500,077 shares in the last quarter. Eventide Asset Management LLC purchased a new stake in Wayfair during the fourth quarter worth approximately $12,268,000. Finally, Baillie Gifford & Co. increased its stake in Wayfair by 18.6% in the first quarter. Baillie Gifford & Co. now owns 1,812,214 shares of the company’s stock worth $73,377,000 after buying an additional 284,599 shares in the last quarter.
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Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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