Bed Bath & Beyond (NASDAQ:BBBY) Issues Earnings Results

Bed Bath & Beyond (NASDAQ:BBBY) released its earnings results on Thursday. The retailer reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.27), MarketWatch Earnings reports. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Bed Bath & Beyond had a negative net margin of 4.64% and a positive return on equity of 3.22%. Bed Bath & Beyond’s revenue for the quarter was down 28.3% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. Bed Bath & Beyond updated its Q4 guidance to $0.00-0.15 EPS.

Shares of NASDAQ:BBBY opened at $13.80 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.33 and a debt-to-equity ratio of 2.13. Bed Bath & Beyond has a 52-week low of $13.32 and a 52-week high of $53.90. The company has a 50 day moving average of $18.43 and a two-hundred day moving average of $22.37. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.54, a price-to-earnings-growth ratio of 0.37 and a beta of 1.67.

A number of research analysts have issued reports on the stock. KeyCorp reduced their target price on shares of Bed Bath & Beyond from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday. Bank of America began coverage on shares of Bed Bath & Beyond in a report on Tuesday, October 5th. They set an “underperform” rating and a $14.00 price objective on the stock. Robert W. Baird cut their price objective on shares of Bed Bath & Beyond from $22.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday. Zacks Investment Research lowered shares of Bed Bath & Beyond from a “hold” rating to a “strong sell” rating and set a $13.00 price objective on the stock. in a report on Tuesday, January 4th. Finally, Telsey Advisory Group cut their price objective on shares of Bed Bath & Beyond from $22.00 to $18.00 and set a “market perform” rating on the stock in a report on Tuesday, January 4th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.83.

In related news, CFO Gustavo Arnal purchased 2,500 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was acquired at an average price of $21.40 per share, with a total value of $53,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Fleming purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, November 4th. The shares were bought at an average cost of $19.28 per share, with a total value of $192,800.00. The disclosure for this purchase can be found here. Insiders acquired 17,500 shares of company stock valued at $344,900 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

A hedge fund recently bought a new stake in Bed Bath & Beyond stock. Janus Henderson Group PLC acquired a new position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,587 shares of the retailer’s stock, valued at approximately $200,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

About Bed Bath & Beyond

Bed Bath & Beyond, Inc engages in the operation of retail stores and retails domestics merchandise and home furnishings. Its products include domestic merchandise and home furnishings such as bed linens and related items, bath items, kitchen textiles kitchen and tabletop items, fine tabletop, basic house wares, general home furnishings, and consumables.

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

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