Analysts Anticipate Bed Bath & Beyond Inc. (NASDAQ:BBBY) to Announce $0.03 EPS

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Wall Street brokerages expect Bed Bath & Beyond Inc. (NASDAQ:BBBY) to post earnings per share of $0.03 for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Bed Bath & Beyond’s earnings, with estimates ranging from ($0.02) to $0.08. Bed Bath & Beyond reported earnings of $0.18 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 83.3%. The company is scheduled to announce its next quarterly earnings report on Wednesday, January 8th.

According to Zacks, analysts expect that Bed Bath & Beyond will report full-year earnings of $1.89 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $2.05. For the next year, analysts forecast that the business will report earnings of $1.99 per share, with EPS estimates ranging from $1.43 to $2.28. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bed Bath & Beyond.

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

A number of brokerages have recently weighed in on BBBY. Loop Capital reduced their price target on shares of Bed Bath & Beyond from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Raymond James set a $17.00 price target on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a research note on Monday, September 30th. Goldman Sachs Group began coverage on shares of Bed Bath & Beyond in a research note on Thursday, July 11th. They issued a “sell” rating and a $11.00 price target for the company. Bank of America set a $20.00 price target on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group reduced their price target on shares of Bed Bath & Beyond from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $14.39.

A number of hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its holdings in shares of Bed Bath & Beyond by 25.9% during the second quarter. Private Advisor Group LLC now owns 16,483 shares of the retailer’s stock valued at $192,000 after acquiring an additional 3,396 shares during the period. Swiss National Bank raised its holdings in shares of Bed Bath & Beyond by 1.7% during the second quarter. Swiss National Bank now owns 255,800 shares of the retailer’s stock valued at $2,972,000 after acquiring an additional 4,200 shares during the period. Thompson Investment Management Inc. raised its holdings in shares of Bed Bath & Beyond by 1.6% during the second quarter. Thompson Investment Management Inc. now owns 265,556 shares of the retailer’s stock valued at $3,086,000 after acquiring an additional 4,233 shares during the period. Greenwich Wealth Management LLC raised its holdings in shares of Bed Bath & Beyond by 25.5% during the second quarter. Greenwich Wealth Management LLC now owns 25,100 shares of the retailer’s stock valued at $292,000 after acquiring an additional 5,100 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in shares of Bed Bath & Beyond during the third quarter valued at approximately $121,000.

Shares of NASDAQ:BBBY traded up $0.04 during trading on Wednesday, reaching $9.98. The company had a trading volume of 141,221 shares, compared to its average volume of 7,011,715. The firm’s fifty day moving average is $9.65 and its 200 day moving average is $12.32. The firm has a market capitalization of $1.27 billion, a PE ratio of 4.86, a price-to-earnings-growth ratio of 5.35 and a beta of 1.25. Bed Bath & Beyond has a twelve month low of $7.31 and a twelve month high of $19.57. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 1.46.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, December 13th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 6.81%. The ex-dividend date is Thursday, December 12th. Bed Bath & Beyond’s dividend payout ratio 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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