Zacks: Brokerages Expect Wayfair Inc. (NYSE:W) Will Post Quarterly Sales of $3.28 Billion

Equities research analysts expect Wayfair Inc. (NYSE:WGet Rating) to announce $3.28 billion in sales for the current quarter, according to Zacks. Nine analysts have made estimates for Wayfair’s earnings. The lowest sales estimate is $3.19 billion and the highest is $3.53 billion. Wayfair posted sales of $3.86 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 15%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Wayfair will report full year sales of $13.27 billion for the current fiscal year, with estimates ranging from $12.65 billion to $14.00 billion. For the next financial year, analysts forecast that the business will post sales of $15.14 billion, with estimates ranging from $14.20 billion to $16.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Wayfair.

Wayfair (NYSE:WGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($1.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.43) by $0.47. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.99 billion. Wayfair had a negative net margin of 3.54% and a negative return on equity of 10.52%. The firm’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share.

Several research firms have weighed in on W. Morgan Stanley decreased their price target on shares of Wayfair from $90.00 to $70.00 in a research report on Friday, May 6th. Piper Sandler downgraded shares of Wayfair from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $200.00 to $65.00 in a research report on Thursday, May 5th. Barclays downgraded shares of Wayfair from an “equal weight” rating to an “underweight” rating and set a $103.00 price objective on the stock. in a research report on Friday, April 1st. Guggenheim cut their target price on shares of Wayfair from $250.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Finally, StockNews.com raised shares of Wayfair to a “sell” rating in a research note on Tuesday, May 17th. Ten analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $145.42.

In other news, Director Michael W. Choe purchased 35,000 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was purchased at an average cost of $49.86 per share, for a total transaction of $1,745,100.00. Following the completion of the transaction, the director now owns 150,160 shares of the company’s stock, valued at $7,486,977.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steve Oblak sold 1,252 shares of the business’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $101.94, for a total transaction of $127,628.88. Following the transaction, the insider now owns 152,702 shares in the company, valued at $15,566,441.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,599 shares of company stock worth $1,233,647. 27.04% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Wayfair by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 260,118 shares of the company’s stock worth $66,462,000 after buying an additional 4,164 shares in the last quarter. Clough Capital Partners L P acquired a new stake in shares of Wayfair in the third quarter valued at approximately $2,887,000. Tudor Investment Corp Et Al raised its position in shares of Wayfair by 622.2% during the 3rd quarter. Tudor Investment Corp Et Al now owns 13,086 shares of the company’s stock worth $3,344,000 after purchasing an additional 11,274 shares during the last quarter. Delta Asset Management LLC TN purchased a new stake in Wayfair in the 4th quarter valued at approximately $159,000. Finally, Carson Advisory Inc. acquired a new stake in Wayfair during the 4th quarter valued at $247,000. Institutional investors and hedge funds own 85.89% of the company’s stock.

W opened at $45.51 on Wednesday. Wayfair has a 1-year low of $45.13 and a 1-year high of $339.56. The company has a market capitalization of $4.79 billion, a PE ratio of -9.96 and a beta of 2.89. The firm’s 50 day simple moving average is $92.10 and its two-hundred day simple moving average is $150.64.

About Wayfair (Get Rating)

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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Earnings History and Estimates for Wayfair (NYSE:W)

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