B. Riley Weighs in on Bed Bath & Beyond Inc.’s Q1 2023 Earnings (NASDAQ:BBBY)


Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) – Research analysts at B. Riley lowered their Q1 2023 earnings per share estimates for shares of Bed Bath & Beyond in a research report issued to clients and investors on Tuesday, May 17th . B. Riley analyst S. Anderson now expects that the retailer will post earnings per share of ($1.21) for the quarter, down from their prior estimate of ($0.98). B. Riley has a “NA” rating and a $17.00 price objective on the stock. B. Riley also issued estimates for Bed Bath & Beyond’s Q2 2023 earnings at ($0.60) EPS, Q3 2023 earnings at ($0.46) EPS, Q4 2023 earnings at ($0.42) EPS, FY2023 earnings at ($2.69) EPS and FY2024 earnings at $0.90 EPS.

Several other analysts have also issued reports on the company. Morgan Stanley dropped their price objective on Bed Bath & Beyond from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, April 14th. The Goldman Sachs Group dropped their price objective on Bed Bath & Beyond from $14.00 to $7.00 and set a “sell” rating on the stock in a research note on Thursday, April 14th. Telsey Advisory Group lowered Bed Bath & Beyond from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $18.00 to $15.00 in a research note on Thursday, April 14th. Zacks Investment Research lowered Bed Bath & Beyond from a “hold” rating to a “strong sell” rating and set a $14.00 price objective on the stock. in a research note on Wednesday, April 20th. Finally, Wells Fargo & Company dropped their price objective on Bed Bath & Beyond from $20.00 to $10.00 in a research note on Wednesday, April 13th. Eight analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Sell” and an average target price of $13.00.

BBBY opened at $9.66 on Friday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.31 and a current ratio of 1.14. The business’s 50-day simple moving average is $17.42 and its 200-day simple moving average is $17.34. The firm has a market capitalization of $771.35 million, a PE ratio of -1.67 and a beta of 1.78. Bed Bath & Beyond has a 52-week low of $8.52 and a 52-week high of $44.51.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last released its earnings results on Wednesday, April 13th. The retailer reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.94). Bed Bath & Beyond had a negative return on equity of 14.09% and a negative net margin of 7.11%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue was down 21.7% on a year-over-year basis.

Hedge funds have recently modified their holdings of the business. Brown Advisory Inc. raised its stake in shares of Bed Bath & Beyond by 14.0% in the 4th quarter. Brown Advisory Inc. now owns 2,830,673 shares of the retailer’s stock valued at $41,270,000 after acquiring an additional 346,912 shares during the last quarter. Cubic Asset Management LLC bought a new position in shares of Bed Bath & Beyond in the 3rd quarter valued at $1,094,000. Credit Suisse AG raised its position in Bed Bath & Beyond by 30.9% during the 3rd quarter. Credit Suisse AG now owns 491,854 shares of the retailer’s stock worth $8,497,000 after purchasing an additional 116,194 shares during the last quarter. Capital Fund Management SA bought a new position in Bed Bath & Beyond during the 4th quarter worth $1,437,000. Finally, Campbell Capital Management Inc. bought a new position in Bed Bath & Beyond during the 4th quarter worth $247,000.

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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Earnings History and Estimates for Bed Bath & Beyond (NASDAQ:BBBY)



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