Equities analysts expect Bed Bath & Beyond Inc. (NASDAQ:BBBY) to report earnings per share of ($1.40) for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Bed Bath & Beyond’s earnings, with the lowest EPS estimate coming in at ($1.99) and the highest estimate coming in at ($0.38). Bed Bath & Beyond posted earnings per share of $0.12 during the same quarter last year, which would indicate a negative year over year growth rate of 1,266.7%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, July 8th.
According to Zacks, analysts expect that Bed Bath & Beyond will report full-year earnings of ($2.28) per share for the current year, with EPS estimates ranging from ($7.02) to ($1.12). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.41) per share, with EPS estimates ranging from ($2.31) to $0.64. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Bed Bath & Beyond.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, April 15th. The retailer reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.18. Bed Bath & Beyond had a positive return on equity of 3.03% and a negative net margin of 5.50%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $1.20 EPS. Bed Bath & Beyond’s revenue for the quarter was down 6.1% compared to the same quarter last year.
A number of research firms have issued reports on BBBY. Loop Capital decreased their price objective on shares of Bed Bath & Beyond from $12.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Wells Fargo & Co raised their price target on Bed Bath & Beyond from $4.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 10th. Credit Suisse Group decreased their price target on shares of Bed Bath & Beyond from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Morgan Stanley downgraded Bed Bath & Beyond from an “equal weight” rating to an “underweight” rating in a report on Monday, March 16th. Finally, JPMorgan Chase & Co. decreased their target price on Bed Bath & Beyond from $10.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.75.
Shares of Bed Bath & Beyond stock traded down $0.24 on Thursday, hitting $10.52. The stock had a trading volume of 313,967 shares, compared to its average volume of 12,499,191. The company has a quick ratio of 0.70, a current ratio of 1.55 and a debt-to-equity ratio of 1.87. Bed Bath & Beyond has a one year low of $3.43 and a one year high of $17.79. The stock’s 50-day simple moving average is $8.65 and its two-hundred day simple moving average is $9.98. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -2.16 and a beta of 2.47.
A number of institutional investors and hedge funds have recently made changes to their positions in BBBY. Contrarius Investment Management Ltd lifted its holdings in shares of Bed Bath & Beyond by 6.2% during the 1st quarter. Contrarius Investment Management Ltd now owns 12,318,479 shares of the retailer’s stock valued at $51,861,000 after buying an additional 720,037 shares during the period. Victory Capital Management Inc. increased its position in Bed Bath & Beyond by 613.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,640,709 shares of the retailer’s stock valued at $45,684,000 after acquiring an additional 2,270,568 shares during the last quarter. TCW Group Inc. increased its position in Bed Bath & Beyond by 149.5% during the first quarter. TCW Group Inc. now owns 2,634,195 shares of the retailer’s stock valued at $11,090,000 after acquiring an additional 1,578,608 shares during the last quarter. Norges Bank bought a new position in Bed Bath & Beyond in the fourth quarter valued at about $42,426,000. Finally, Geode Capital Management LLC boosted its position in Bed Bath & Beyond by 7.4% in the first quarter. Geode Capital Management LLC now owns 1,877,111 shares of the retailer’s stock worth $7,902,000 after purchasing an additional 129,357 shares during the last quarter.
About Bed Bath & Beyond
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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