Citigroup Raises BJ's Wholesale Club Estimates; Introduces 2013 And 2014

BJ's Wholesale Club, Inc.'s (NYSE: BJ) October results reflect merchandise comparable club sales of +2.2% and higher gasoline sales of +1.5%, Citigroup reports.

“Excluding sales of gas, traffic increased by approx. 2% in October, and the average transaction amount was approx. flat to last year,” Citigroup writes. “We are raising our 2011 EPS estimate to $2.69, up from $2.67 previously and below consensus of $2.73. Our EPS revision reflects our updated SSS and operating margin assumptions.”

Citigroup is also introducing the following estimates:

2013 EPS Estimate ($3.38, which is below consensus of $3.49)
2014 EPS Estimate ($3.84, which is above consensus of $3.81)

BJ's Wholesale Club currently trades at $42.91.