Wall Street analysts expect Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) to post sales of $1.81 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Bed Bath & Beyond’s earnings, with estimates ranging from $1.72 billion to $1.89 billion. Bed Bath & Beyond reported sales of $1.95 billion in the same quarter last year, which suggests a negative year over year growth rate of 7.2%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Bed Bath & Beyond will report full year sales of $7.78 billion for the current financial year, with estimates ranging from $7.54 billion to $8.01 billion. For the next year, analysts forecast that the business will post sales of $7.92 billion, with estimates ranging from $7.70 billion to $8.16 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Bed Bath & Beyond.
Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last issued its quarterly earnings data on Wednesday, April 13th. The retailer reported ($0.92) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.95). Bed Bath & Beyond had a negative return on equity of 14.09% and a negative net margin of 7.11%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the business posted $0.40 EPS. The company’s quarterly revenue was down 21.7% on a year-over-year basis.
A number of brokerages recently issued reports on BBBY. Wells Fargo & Company lowered their price objective on Bed Bath & Beyond from $20.00 to $10.00 in a research report on Wednesday, April 13th. Morgan Stanley lowered their price target on Bed Bath & Beyond from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, April 14th. Telsey Advisory Group downgraded Bed Bath & Beyond from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $18.00 to $15.00 in a research report on Thursday, April 14th. Robert W. Baird lowered their price target on Bed Bath & Beyond from $22.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, January 7th. Finally, B. Riley raised their price target on Bed Bath & Beyond from $19.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, March 28th. Seven research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.50.
Shares of BBBY stock opened at $16.93 on Tuesday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.31 and a current ratio of 1.14. Bed Bath & Beyond has a 52-week low of $12.39 and a 52-week high of $44.51. The company has a market capitalization of $1.63 billion, a PE ratio of -2.93 and a beta of 1.59. The business’s fifty day moving average is $19.33 and its 200 day moving average is $17.65.
Several hedge funds and other institutional investors have recently bought and sold shares of BBBY. O Shaughnessy Asset Management LLC grew its stake in shares of Bed Bath & Beyond by 4,971.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,420 shares of the retailer’s stock worth $25,000 after purchasing an additional 1,392 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Bed Bath & Beyond by 41.1% in the third quarter. Meeder Asset Management Inc. now owns 1,662 shares of the retailer’s stock worth $28,000 after purchasing an additional 484 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Bed Bath & Beyond in the third quarter worth about $51,000. Wolff Wiese Magana LLC bought a new stake in shares of Bed Bath & Beyond in the third quarter worth about $52,000. Finally, US Asset Management LLC bought a new stake in shares of Bed Bath & Beyond in the third quarter worth about $61,000.
About Bed Bath & Beyond (Get Rating)
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. The company sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
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