Equities analysts expect Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) to post ($1.25) earnings per share for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Bed Bath & Beyond’s earnings. The highest EPS estimate is ($0.90) and the lowest is ($2.09). Bed Bath & Beyond posted earnings per share of $0.05 during the same quarter last year, which indicates a negative year over year growth rate of 2,600%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Bed Bath & Beyond will report full year earnings of ($2.49) per share for the current year, with EPS estimates ranging from ($3.31) to ($1.45). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.55) per share, with EPS estimates ranging from ($2.80) to $1.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that provide coverage for Bed Bath & Beyond.
Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last posted its quarterly earnings results on Wednesday, April 13th. The retailer reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.95). The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. Bed Bath & Beyond had a negative net margin of 7.11% and a negative return on equity of 14.09%. Bed Bath & Beyond’s revenue was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 EPS.
Several research firms recently issued reports on BBBY. Loop Capital decreased their price target on Bed Bath & Beyond from $14.00 to $10.00 and set a “sell” rating on the stock in a report on Friday, January 7th. Robert W. Baird reduced their target price on Bed Bath & Beyond from $22.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 7th. Morgan Stanley reduced their target price on Bed Bath & Beyond from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, April 14th. B. Riley raised their target price on Bed Bath & Beyond from $19.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, March 28th. Finally, Wells Fargo & Company reduced their target price on Bed Bath & Beyond from $20.00 to $10.00 in a report on Wednesday, April 13th. Eight investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bed Bath & Beyond currently has an average rating of “Sell” and an average target price of $13.69.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBBY. O Shaughnessy Asset Management LLC raised its position in shares of Bed Bath & Beyond by 4,971.4% during 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 period. Meeder Asset Management Inc. raised its position in Bed Bath & Beyond by 41.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,662 shares of the retailer’s stock valued at $28,000 after buying an additional 484 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Bed Bath & Beyond in the 3rd quarter valued at approximately $51,000. First Mercantile Trust Co. acquired a new stake in Bed Bath & Beyond in the 3rd quarter valued at approximately $62,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Bed Bath & Beyond in the 1st quarter valued at approximately $64,000.
Bed Bath & Beyond stock traded down $0.69 during mid-day trading on Friday, hitting $12.07. The stock had a trading volume of 3,963,168 shares, compared to its average volume of 5,182,431. The stock has a 50-day simple moving average of $19.17 and a two-hundred day simple moving average of $17.66. The stock has a market capitalization of $963.79 million, a PE ratio of -2.09 and a beta of 1.78. Bed Bath & Beyond has a 12 month low of $11.77 and a 12 month high of $44.51. The company has a current ratio of 1.14, a quick ratio of 0.31 and a debt-to-equity ratio of 6.77.
About Bed Bath & Beyond (Get Rating)
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It 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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