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Bull of the Day: BJ's Wholesale (BJ)
The market’s jump to the 200-day was met with cheers across the globe. As quickly as the bounce took us to that key technical level, it’s smacked us lower. Gaps do get filled, and it looks like a downside gap has been filled. That does not mean that the market has no chance of heading lower. There are ways to insulate your portfolio over the long term, as well as add quality names during the downside action. Finding stocks in the good graces of our Zacks Rank is one way to accomplish this task.
That’s why I’m naming BJ’s Wholesale Club (BJ - Free Report) as today’s Bull of the Day. 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. As of June 10, 2022, it operated 229 warehouse clubs and 160 gas locations in 17 states.
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
The reason for the favorable rank is the series of positive earnings estimate revisions coming from analysts. Over the last week alone, seven analysts have jacked up their estimates for the current year and next year. The bullish moves have pushed up our Zacks Consensus Estimates from $3.28 to $3.56 for the current year and from $3.59 to $3.84 for next year.
This comes on the heels of this last quarter’s big earnings surprise. EPS came in at $1.06, smashing expectations calling for 83 cents by 27.71%. Over the last year alone, the stock has beat our Zacks Consensus Estimates by an average of 13 cents each quarter.