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Whole Foods Market (NASDAQ:WFM) is expected to report Q2 earnings on Wednesday, May 2, with a conference call scheduled for 5:00 pm ET.

Guidance

Analysts are looking for a profit of 59c on revenue of $2.67B. The consensus range is 56c-61c for EPS on revenue of $2.63B-$2.71B, according to First Call.

Analyst Views

Since its last earnings report, a number of firms have been constructive on Whole Foods' stock, with Deutsche Bank most recently saying that its channel checks indicated traffic trends are robust. The firm raised its target on the stock to $93 from $85 while keeping its Buy rating. Piper Jaffray rates the shares Overweight with a $98 price target, while UBS initiated the stock in March with a Buy rating and a $100 target. Meanwhile, Goldman previously downgraded Whole Foods to Neutral from Buy citing valuation but put a $88 price target on shares. In afternoon trading, Whole Foods is out-pacing rival supermarkets, rising $2.08, or 2.51%, to $85.15.

Source: Earnings Preview: Whole Foods Market