$3.36 Billion in Sales Expected for Bed Bath & Beyond Inc. (BBBY) This Quarter

Brokerages forecast that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will announce sales of $3.36 billion for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Bed Bath & Beyond’s earnings, with estimates ranging from $3.28 billion to $3.49 billion. Bed Bath & Beyond reported sales of $3.72 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 9.7%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, April 10th.

According to Zacks, analysts expect that Bed Bath & Beyond will report full year sales of $12.06 billion for the current financial year, with estimates ranging from $11.93 billion to $12.18 billion. For the next fiscal year, analysts forecast that the company will post sales of $11.83 billion, with estimates ranging from $11.49 billion to $12.25 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings data on Wednesday, January 9th. The retailer reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.04 billion. Bed Bath & Beyond had a return on equity of 11.08% and a net margin of 2.50%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS.

A number of equities research analysts have recently commented on BBBY shares. Zacks Investment Research upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Monday, January 14th. BidaskClub upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Telsey Advisory Group restated a “market perform” rating and set a $13.00 target price (down from $16.00) on shares of Bed Bath & Beyond in a research report on Friday, January 4th. Finally, Wedbush dropped their target price on Bed Bath & Beyond from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, January 10th. Eleven analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The company currently has an average rating of “Sell” and a consensus price target of $13.50.

In related news, Director Jordan Heller sold 19,554 shares of Bed Bath & Beyond stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $15.26, for a total value of $298,394.04. Following the sale, the director now directly owns 5,647 shares in the company, valued at approximately $86,173.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Bed Bath & Beyond by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 2,641,692 shares of the retailer’s stock worth $52,636,000 after purchasing an additional 297,632 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Bed Bath & Beyond by 26.0% during the third quarter. Russell Investments Group Ltd. now owns 278,615 shares of the retailer’s stock worth $4,179,000 after buying an additional 57,486 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Bed Bath & Beyond by 37.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,172,943 shares of the retailer’s stock worth $17,646,000 after buying an additional 320,544 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Bed Bath & Beyond during the third quarter worth $592,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Bed Bath & Beyond by 8.8% during the third quarter. Wells Fargo & Company MN now owns 760,786 shares of the retailer’s stock worth $11,411,000 after buying an additional 61,551 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Shares of NASDAQ:BBBY traded down $0.69 during trading on Tuesday, reaching $14.28. 7,197,654 shares of the company’s stock traded hands, compared to its average volume of 7,225,209. Bed Bath & Beyond has a fifty-two week low of $10.46 and a fifty-two week high of $22.66. The company has a quick ratio of 0.55, a current ratio of 1.67 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $1.97 billion, a PE ratio of 4.58, a price-to-earnings-growth ratio of 5.87 and a beta of 1.15.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Friday, March 15th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.48%. The ex-dividend date is Thursday, March 14th. Bed Bath & Beyond’s payout ratio is 20.51%.

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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