Wayfair Inc (W) Expected to Announce Quarterly Sales of $1.66 Billion

Brokerages expect Wayfair Inc (NYSE:W) to announce sales of $1.66 billion for the current quarter, according to Zacks Investment Research. Thirteen analysts have made estimates for Wayfair’s earnings, with the lowest sales estimate coming in at $1.63 billion and the highest estimate coming in at $1.70 billion. Wayfair posted sales of $1.20 billion in the same quarter last year, which would indicate a positive year over year growth rate of 38.3%. The company is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that Wayfair will report full-year sales of $6.66 billion for the current fiscal year, with estimates ranging from $6.51 billion to $6.78 billion. For the next financial year, analysts forecast that the business will report sales of $8.63 billion, with estimates ranging from $8.30 billion to $8.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Wayfair.

Wayfair (NYSE:W) last issued its earnings results on Thursday, August 2nd. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.04). The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted ($0.26) EPS. The firm’s quarterly revenue was up 47.4% compared to the same quarter last year.

W has been the topic of a number of recent research reports. Loop Capital set a $155.00 target price on Wayfair and gave the stock a “buy” rating in a report on Monday, September 10th. Canaccord Genuity reiterated a “buy” rating and issued a $165.00 target price (up from $140.00) on shares of Wayfair in a report on Friday, September 28th. MKM Partners increased their target price on Wayfair from $130.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. Buckingham Research increased their target price on Wayfair from $137.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Bank of America cut Wayfair from a “buy” rating to a “neutral” rating and increased their target price for the stock from $130.00 to $160.00 in a report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $126.81.

Shares of W traded down $6.93 during trading hours on Friday, reaching $108.73. The stock had a trading volume of 1,903,108 shares, compared to its average volume of 1,674,651. Wayfair has a 12 month low of $55.33 and a 12 month high of $151.20. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of -2.47. The stock has a market cap of $11.18 billion, a P/E ratio of -38.83 and a beta of 1.51.

In other news, COO James Savarese sold 99,570 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $150.18, for a total transaction of $14,953,422.60. Following the completion of the sale, the chief operating officer now directly owns 458,056 shares of the company’s stock, valued at approximately $68,790,850.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 14,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $112.97, for a total value of $1,581,580.00. Following the sale, the insider now directly owns 88,853 shares of the company’s stock, valued at $10,037,723.41. The disclosure for this sale can be found here. Insiders sold a total of 430,922 shares of company stock valued at $58,330,803 over the last three months. 37.75% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Wayfair during the 3rd quarter valued at $150,000. Engineers Gate Manager LP bought a new position in shares of Wayfair during the 2nd quarter worth $208,000. World Asset Management Inc bought a new position in shares of Wayfair during the 2nd quarter worth $214,000. Peregrine Asset Advisers Inc. bought a new position in shares of Wayfair during the 2nd quarter worth $214,000. Finally, Baldwin Brothers Inc. MA bought a new position in shares of Wayfair during the 3rd quarter worth $241,000. 72.41% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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