Earnings Previews: Goldman Sachs, JPMorgan, Wells Fargo and Bed Bath & Beyond

Analysts have a $43.74 consensus price target on Wells Fargo’s stock, with shares trading currently at around $40.70, implying a potential upside of about 7.5%. At the high price target of $65, the potential upside on the stock is around 62%.

The big bank is expected to report first-quarter EPS of $0.69 (up from $0.01 a year ago) on revenue of $17.5 billion (down 1.2% year over year). For the second quarter, analysts estimate EPS of $0.74, up from a loss per share of $0.66 last year, on revenue of $17.31 billion (down 2.9% year over year). For the 2021 fiscal year, the current estimates call for EPS of $2.93 and revenue of $69.4 billion.

The stock currently trades at around 14.5 times expected 2021 EPS, 12.1 times estimated 2022 EPS and 10.3 times estimated 2023 earnings. The stock’s 52-week range is $20.76 to $41.54. Wells Fargo pays an annual dividend of $0.40 (yield of 0.99%).

Bed, Bath & Beyond

Specialty retailer Bed, Bath & Beyond Inc. (NASDAQ: BBBY) has added nearly 440% to its share price over the past 12 months, including a spike of nearly twice that amount in late January, when the company’s stock grabbed attention as a meme stock and soared to a high of $53.90. Last month the company hired two more executives charged with driving growth in the company’s $3 billion digital business, one from Wayfair and the other from Walmart.

Most analysts (15 of 23) rate Bed, Bath & Beyond stock as a Hold, and only one rates the stock a Buy, while seven rate the shares at Underperform and three rate the shares as Sell. The stock already trades above its consensus price target of $27.96.

Analysts expect the company to post EPS for its fourth fiscal quarter of $0.31 (down 31% year over year) on sales of $2.63 billion (down 15.5% of last year’s actual sales). For the fiscal year that ended in February, analysts expect the company to report a loss per share of $1.09 compared with EPS of $0.46 in fiscal 2020. Sales are forecast to drop 16.8% to $9.28 billion.

At a recent price of around $30.10, the stock traded at 23.7 times expected 2022 EPS and 14.8 times expected 2023 earnings. The stock’s 52-week range is $4.32 to $53.90, and the company pays an annual dividend of $0.68 (yield of 17.94%).

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