Wayfair Inc. (NYSE:W) Expected to Post Quarterly Sales of $3.28 Billion

Brokerages expect Wayfair Inc. (NYSE:WGet Rating) to post sales of $3.28 billion for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Wayfair’s earnings, with the highest sales estimate coming in at $3.53 billion and the lowest estimate coming in at $3.19 billion. Wayfair reported sales of $3.86 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 15%. The firm is expected to report its next earnings report on Monday, January 1st.

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

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

Several research firms have weighed in on W. JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $108.00 to $70.00 and set an “underweight” rating on the stock in a report on Tuesday, April 26th. Wedbush reduced their price target on shares of Wayfair from $85.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, May 6th. Zacks Investment Research raised shares of Wayfair from a “strong sell” rating to a “hold” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 26th. Credit Suisse Group reduced their price target on shares of Wayfair from $256.00 to $195.00 in a research note on Friday, May 6th. Finally, StockNews.com raised shares of Wayfair to a “sell” rating in a research note on Tuesday, May 17th. Ten investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Wayfair currently has a consensus rating of “Hold” and a consensus target price of $145.42.

In other news, insider Steve Oblak sold 1,050 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $115.80, for a total value of $121,590.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Fiona Tan sold 2,618 shares of the stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $115.78, for a total transaction of $303,112.04. Following the completion of the transaction, the chief technology officer now owns 18,797 shares of the company’s stock, valued at approximately $2,176,316.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,599 shares of company stock valued at $1,233,647. 27.04% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in W. Capital World Investors increased its holdings in Wayfair by 2.8% during the 1st quarter. Capital World Investors now owns 3,681,729 shares of the company’s stock valued at $407,862,000 after acquiring an additional 100,946 shares in the last quarter. Capital International Sarl increased its holdings in Wayfair by 270.4% during the 1st quarter. Capital International Sarl now owns 11,758 shares of the company’s stock valued at $1,303,000 after acquiring an additional 8,584 shares in the last quarter. Capital International Ltd. CA increased its holdings in Wayfair by 143.4% during the 1st quarter. Capital International Ltd. CA now owns 25,464 shares of the company’s stock valued at $2,821,000 after acquiring an additional 15,003 shares in the last quarter. Capital Group International Inc. CA increased its holdings in Wayfair by 140.5% during the 1st quarter. Capital Group International Inc. CA now owns 17,730 shares of the company’s stock valued at $1,964,000 after acquiring an additional 10,357 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in Wayfair during the 1st quarter valued at about $1,651,000. Institutional investors and hedge funds own 85.89% of the company’s stock.

Wayfair stock opened at $45.51 on Wednesday. The stock has a market cap of $4.79 billion, a P/E ratio of -9.96 and a beta of 2.89. The company has a 50-day moving average price of $92.10 and a 200 day moving average price of $150.64. Wayfair has a 12-month low of $45.13 and a 12-month high of $339.56.

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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