Brokerages Expect Bed Bath & Beyond Inc. (NASDAQ:BBBY) Will Post Earnings of $0.09 Per Share


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Analysts expect that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will report earnings of $0.09 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Bed Bath & Beyond’s earnings. The lowest EPS estimate is ($0.05) and the highest is $0.24. Bed Bath & Beyond reported earnings of ($1.96) per share in the same quarter last year, which would suggest a positive year over year growth rate of 104.6%. The firm is scheduled to announce its next earnings results on Wednesday, July 14th.

On average, analysts expect that Bed Bath & Beyond will report full-year earnings of $1.50 per share for the current financial year, with EPS estimates ranging from $1.34 to $1.71. For the next fiscal year, analysts forecast that the business will report earnings of $2.30 per share, with EPS estimates ranging from $1.69 to $3.51. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Tuesday, April 13th. The retailer reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.09. Bed Bath & Beyond had a negative return on equity of 7.80% and a negative net margin of 2.32%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s revenue was down 15.7% compared to the same quarter last year.

Several brokerages have recently issued reports on BBBY. Morgan Stanley boosted their price objective on Bed Bath & Beyond from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, April 29th. Telsey Advisory Group decreased their price objective on Bed Bath & Beyond from $40.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, April 21st. Wedbush decreased their price objective on Bed Bath & Beyond from $33.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, April 15th. KeyCorp decreased their price objective on Bed Bath & Beyond from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, April 21st. Finally, Bank of America raised Bed Bath & Beyond from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Thursday, February 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.00.

In other news, Director Joshua Schechter acquired 3,000 shares of the business’s stock in a transaction on Friday, April 16th. The stock was bought at an average cost of $25.02 per share, for a total transaction of $75,060.00. Following the purchase, the director now owns 24,016 shares in the company, valued at $600,880.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gustavo Arnal acquired 20,000 shares of the business’s stock in a transaction on Friday, April 16th. The shares were purchased at an average price of $25.45 per share, with a total value of $509,000.00. Following the completion of the purchase, the chief financial officer now owns 300,769 shares in the company, valued at approximately $7,654,571.05. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 23,500 shares of company stock valued at $596,835. 1.30% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Bed Bath & Beyond by 20.1% during the 4th quarter. BlackRock Inc. now owns 23,181,494 shares of the retailer’s stock worth $411,702,000 after buying an additional 3,887,565 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Bed Bath & Beyond by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,072,104 shares of the retailer’s stock worth $72,326,000 after buying an additional 153,137 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Bed Bath & Beyond during the 4th quarter worth approximately $53,087,000. Voloridge Investment Management LLC purchased a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $42,493,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Bed Bath & Beyond by 111.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,970,983 shares of the retailer’s stock valued at $35,005,000 after purchasing an additional 1,039,105 shares during the last quarter.

Shares of BBBY stock traded down $0.12 on Tuesday, hitting $25.05. The company had a trading volume of 4,843,027 shares, compared to its average volume of 10,642,780. The firm has a market cap of $2.73 billion, a P/E ratio of -13.69 and a beta of 2.10. The company has a 50-day moving average price of $28.21 and a 200-day moving average price of $24.83. The company has a quick ratio of 0.81, a current ratio of 1.46 and a debt-to-equity ratio of 0.85. Bed Bath & Beyond has a twelve month low of $5.10 and a twelve month high of $53.90.

Bed Bath & Beyond Company Profile

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

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