Bed Bath & Beyond (NASDAQ:BBBY) Announces Earnings Results, Misses Expectations By $0.11 EPS

Bed Bath & Beyond (NASDAQ:BBBY) released its quarterly earnings results on Wednesday. The retailer reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.11), MarketWatch Earnings reports. Bed Bath & Beyond had a negative net margin of 1.91% and a negative return on equity of 10.67%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company earned ($0.38) earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis.

BBBY traded up $0.44 during midday trading on Friday, hitting $19.17. 555,382 shares of the company traded hands, compared to its average volume of 6,935,838. Bed Bath & Beyond has a 52 week low of $3.43 and a 52 week high of $26.16. The firm has a market capitalization of $2.42 billion, a PE ratio of -12.24 and a beta of 2.10. The company has a quick ratio of 0.68, a current ratio of 1.50 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average is $19.55 and its 200 day moving average is $15.91.

In other Bed Bath & Beyond news, Director Joshua Schechter purchased 1,500 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was acquired at an average cost of $19.87 per share, for a total transaction of $29,805.00. Following the purchase, the director now directly owns 21,016 shares of the company’s stock, valued at approximately $417,587.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harriet Edelman purchased 7,500 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was acquired at an average price of $19.94 per share, with a total value of $149,550.00. Following the completion of the purchase, the director now directly owns 27,828 shares in the company, valued at $554,890.32. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

BBBY has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and issued a $25.00 price target on shares of Bed Bath & Beyond in a research report on Monday, October 26th. Bank of America raised their price objective on shares of Bed Bath & Beyond from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, September 25th. Loop Capital raised their price objective on shares of Bed Bath & Beyond from $9.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, October 2nd. Wells Fargo & Company reissued a “sell” rating and set a $17.00 price target on shares of Bed Bath & Beyond in a research report on Thursday, October 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Bed Bath & Beyond from $5.00 to $12.00 and gave the stock a “positive” rating in a report on Tuesday, October 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Bed Bath & Beyond has a consensus rating of “Hold” and an average target price of $17.50.

Bed Bath & Beyond Company Profile

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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