Bed Bath & Beyond Inc. (NASDAQ:BBBY) Expected to Announce Quarterly Sales of $3.11 Billion

Equities research analysts predict that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will announce $3.11 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Bed Bath & Beyond’s earnings, with the highest sales estimate coming in at $3.18 billion and the lowest estimate coming in at $3.04 billion. Bed Bath & Beyond posted sales of $3.31 billion in the same quarter last year, which would indicate a negative year over year growth rate of 6%. The business is scheduled to report its next quarterly earnings report on Wednesday, April 8th.

On average, analysts expect that Bed Bath & Beyond will report full-year sales of $11.17 billion for the current financial year, with estimates ranging from $11.09 billion to $11.27 billion. For the next year, analysts forecast that the business will post sales of $10.76 billion, with estimates ranging from $10.51 billion to $11.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings data on Wednesday, January 8th. The retailer reported ($0.38) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.41). The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Bed Bath & Beyond had a negative net margin of 7.06% and a positive return on equity of 8.09%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share.

Several analysts have recently commented on BBBY shares. Telsey Advisory Group upped their price objective on shares of Bed Bath & Beyond from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Loop Capital dropped their price objective on shares of Bed Bath & Beyond from $15.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Bank of America reiterated a “buy” rating and issued a $20.00 target price on shares of Bed Bath & Beyond in a research note on Wednesday, February 12th. Raymond James reiterated a “buy” rating on shares of Bed Bath & Beyond in a research note on Wednesday, February 19th. Finally, Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Bed Bath & Beyond currently has an average rating of “Hold” and a consensus price target of $14.47.

Shares of BBBY stock traded down $0.83 during trading hours on Monday, hitting $11.62. The company’s stock had a trading volume of 11,420,999 shares, compared to its average volume of 11,066,162. The company has a 50 day moving average of $14.48 and a 200 day moving average of $12.91. The stock has a market cap of $1.58 billion, a PE ratio of -1.86, a price-to-earnings-growth ratio of 3.90 and a beta of 1.42. The company has a current ratio of 1.41, a quick ratio of 0.47 and a debt-to-equity ratio of 1.75. Bed Bath & Beyond has a 12-month low of $7.31 and a 12-month high of $19.57.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Friday, March 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Thursday, March 12th. Bed Bath & Beyond’s dividend payout ratio is presently 33.17%.

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Bed Bath & Beyond by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,747,754 shares of the retailer’s stock worth $30,236,000 after acquiring an additional 8,587 shares during the period. Alliancebernstein L.P. raised its position in Bed Bath & Beyond by 127.8% during the fourth quarter. Alliancebernstein L.P. now owns 754,975 shares of the retailer’s stock worth $13,061,000 after acquiring an additional 423,606 shares during the period. Man Group plc acquired a new position in Bed Bath & Beyond during the fourth quarter worth $2,378,000. Psagot Investment House Ltd. acquired a new position in Bed Bath & Beyond during the fourth quarter worth $121,000. Finally, Alberta Investment Management Corp acquired a new position in Bed Bath & Beyond during the fourth quarter worth $2,074,000.

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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