March 4 (Bloomberg) -- BJ’s Wholesale Club Inc., the third- largest U.S. warehouse-club chain, said fourth-quarter profit grew 4.8 percent and forecast first-quarter profit in line with analysts’ estimates. The shares rose the most in four months.

Net income rose to $52.7 million, or 91 cents a share, from $50.2 million, or 80 cents, a year earlier, the Natick, Massachusetts-based merchant said today in a statement. Revenue climbed 3.1 percent to $2.56 billion.

Excluding certain items, profit was 89 cents a share. Analysts anticipated profit of 86 cents, the average of 14 estimates compiled by Bloomberg.

BJ’s profit in the current quarter will be 29 cents to 33 cents a share, excluding some items, executives said on a conference call with investors and analysts. Twelve analysts surveyed by Bloomberg estimate 30 cents a share, on average.

BJ’s rose $1.98, or 7.2 percent, to $29.42 at 4:15 p.m. in New York Stock Exchange composite trading, the steepest gain since Oct. 28. The shares have dropped 14 percent this year.

To contact the reporter on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net.

Last Updated: March 4, 2009 16:31 EST