Zacks: Brokerages Expect Bed Bath & Beyond Inc. (NASDAQ:BBBY) Will Post Earnings of $0.03 Per Share

Wall Street brokerages expect Bed Bath & Beyond Inc. (NASDAQ:BBBY) to post earnings of $0.03 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Bed Bath & Beyond’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.08. Bed Bath & Beyond reported earnings per share of $0.18 in the same quarter last year, which suggests a negative year-over-year growth rate of 83.3%. The business is scheduled to report its next quarterly earnings results on Wednesday, January 8th.

On average, analysts expect that Bed Bath & Beyond will report full year earnings of $1.92 per share for the current financial year, with EPS estimates ranging from $1.83 to $2.05. For the next fiscal year, analysts expect that the company will post earnings of $2.00 per share, with EPS estimates ranging from $1.43 to $2.28. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, October 2nd. The retailer reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. Bed Bath & Beyond had a negative net margin of 6.36% and a positive return on equity of 10.20%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis.

Several brokerages have commented on BBBY. Jefferies Financial Group cut their price target on shares of Bed Bath & Beyond from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley set a $12.00 price objective on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Tuesday, October 8th. Loop Capital decreased their price objective on Bed Bath & Beyond from $12.00 to $10.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Raymond James raised Bed Bath & Beyond to a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group lowered their target price on Bed Bath & Beyond from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Bed Bath & Beyond has an average rating of “Hold” and an average price target of $14.44.

Institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in Bed Bath & Beyond by 124.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,942 shares of the retailer’s stock valued at $30,000 after purchasing an additional 1,631 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Bed Bath & Beyond by 7,607.5% in the third quarter. Steward Partners Investment Advisory LLC now owns 3,083 shares of the retailer’s stock valued at $32,000 after buying an additional 3,043 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of Bed Bath & Beyond by 25.0% in the third quarter. Penserra Capital Management LLC now owns 3,590 shares of the retailer’s stock valued at $38,000 after buying an additional 718 shares during the last quarter. Winthrop Partners WNY LLC acquired a new stake in shares of Bed Bath & Beyond in the third quarter valued at approximately $43,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Bed Bath & Beyond by 28.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 5,165 shares of the retailer’s stock worth $55,000 after acquiring an additional 1,156 shares during the period.

Bed Bath & Beyond stock traded up $0.64 during mid-day trading on Monday, reaching $15.41. The company’s stock had a trading volume of 8,023,928 shares, compared to its average volume of 7,161,529. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 1.46. Bed Bath & Beyond has a 12 month low of $7.31 and a 12 month high of $19.57. The business’s 50 day simple moving average is $13.81 and its 200 day simple moving average is $11.45. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 1.20 and a beta of 1.29.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, December 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Thursday, December 12th. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 33.17%.

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

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