Bed Bath & Beyond Inc. (NASDAQ:BBBY) Expected to Post Quarterly Sales of $2.61 Billion

Brokerages expect that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will announce sales of $2.61 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Bed Bath & Beyond’s earnings, with the highest sales estimate coming in at $2.94 billion and the lowest estimate coming in at $2.51 billion. Bed Bath & Beyond reported sales of $3.11 billion during the same quarter last year, which would suggest a negative year over year growth rate of 16.1%. The company is scheduled to issue its next earnings report on Wednesday, April 21st.

On average, analysts expect that Bed Bath & Beyond will report full-year sales of $9.17 billion for the current year, with estimates ranging from $9.13 billion to $9.29 billion. For the next year, analysts anticipate that the company will report sales of $8.46 billion, with estimates ranging from $8.07 billion to $10.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its earnings results on Wednesday, January 6th. The retailer reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.11). The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Bed Bath & Beyond had a negative net margin of 2.32% and a negative return on equity of 7.80%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.38) EPS.

A number of research firms have weighed in on BBBY. Loop Capital lifted their target price on Bed Bath & Beyond from $18.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 25th. Zacks Investment Research upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating and set a $31.00 price target for the company in a research report on Thursday, February 11th. KeyCorp downgraded Bed Bath & Beyond from a “sector weight” rating to an “underweight” rating and set a $24.00 price target for the company. in a research report on Monday, February 1st. They noted that the move was a valuation call. Raymond James downgraded Bed Bath & Beyond from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, January 26th. Finally, Robert W. Baird downgraded Bed Bath & Beyond from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $30.00 to $37.00 in a research report on Wednesday, January 27th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. Bed Bath & Beyond presently has an average rating of “Hold” and a consensus price target of $24.20.

BBBY stock traded down $0.78 during mid-day trading on Thursday, reaching $25.49. 158,184 shares of the company traded hands, compared to its average volume of 19,921,313. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.46 and a quick ratio of 0.81. The company has a market capitalization of $3.09 billion, a P/E ratio of -14.36 and a beta of 2.10. Bed Bath & Beyond has a 52-week low of $3.43 and a 52-week high of $53.90. The company has a fifty day moving average price of $27.00 and a 200-day moving average price of $20.02.

A number of institutional investors have recently made changes to their positions in BBBY. Vantage Consulting Group Inc bought a new stake in Bed Bath & Beyond in the 4th quarter worth $25,000. Signaturefd LLC bought a new stake in Bed Bath & Beyond in the 4th quarter worth $43,000. Pinnacle Holdings LLC grew its holdings in Bed Bath & Beyond by 200.0% in the 3rd quarter. Pinnacle Holdings LLC now owns 3,000 shares of the retailer’s stock worth $45,000 after acquiring an additional 2,000 shares during the last quarter. Twin Tree Management LP bought a new stake in Bed Bath & Beyond in the 4th quarter worth $60,000. Finally, Daiwa Securities Group Inc. bought a new stake in Bed Bath & Beyond in the 4th quarter worth $75,000.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. 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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