Wall Street analysts forecast that Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) will post $1.56 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Bed Bath & Beyond’s earnings. The lowest sales estimate is $1.45 billion and the highest is $1.82 billion. Bed Bath & Beyond posted sales of $1.95 billion during the same quarter last year, which suggests a negative year over year growth rate of 20%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Bed Bath & Beyond will report full year sales of $7.26 billion for the current year, with estimates ranging from $6.80 billion to $7.68 billion. For the next fiscal year, analysts expect that the business will report sales of $7.44 billion, with estimates ranging from $7.01 billion to $8.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that 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) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.95). Bed Bath & Beyond had a negative net margin of 7.11% and a negative return on equity of 14.09%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the company posted $0.40 earnings per share. Bed Bath & Beyond’s revenue for the quarter was down 21.7% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Bed Bath & Beyond in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Telsey Advisory Group downgraded shares of Bed Bath & Beyond from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $18.00 to $15.00 in a research report on Thursday, April 14th. The Goldman Sachs Group reduced their price target on shares of Bed Bath & Beyond from $14.00 to $7.00 and set a “sell” rating for the company in a research report on Thursday, April 14th. Morgan Stanley reduced their price target on shares of Bed Bath & Beyond from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, April 14th. Finally, Zacks Investment Research downgraded shares of Bed Bath & Beyond from a “hold” rating to a “strong sell” rating and set a $14.00 price target for the company. in a research report on Wednesday, April 20th. Eight investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Bed Bath & Beyond presently has a consensus rating of “Sell” and a consensus target price of $13.69.
Several institutional investors have recently bought and sold shares of BBBY. Allianz Asset Management GmbH purchased a new stake in shares of Bed Bath & Beyond in the 3rd quarter valued at approximately $64,050,000. Dimensional Fund Advisors LP boosted its position in shares of Bed Bath & Beyond by 18.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,788,025 shares of the retailer’s stock worth $65,467,000 after purchasing an additional 598,310 shares during the period. EN Shaw & Co. Inc. purchased a new position in shares of Bed Bath & Beyond during the 4th quarter worth approximately $8,052,000. Analyst IMS Investment Management Services Ltd. boosted his position in shares of Bed Bath & Beyond by 241.6% during the 3rd quarter. Analyst IMS Investment Management Services Ltd. now owns 525,432 shares of the retailer’s stock worth $9,077,000 after purchasing an additional 371,636 shares during the period. Finally, Brown Advisory Inc. boosted its position in shares of Bed Bath & Beyond by 14.0% during the 4th quarter. Brown Advisory Inc. now owns 2,830,673 shares of the retailer’s stock worth $41,270,000 after purchasing an additional 346,912 shares during the period.
BBBY stock opened at $12.07 on Monday. The company’s 50-day simple moving average is $19.17 and its 200-day simple moving average is $17.68. The company has a quick ratio of 0.31, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. Bed Bath & Beyond has a 52-week low of $11.77 and a 52-week high of $44.51. The firm has a market cap of $963.74 million, a P/E ratio of -2.09 and a beta of 1.78.
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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