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.
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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