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


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

Shares of Bed Bath & Beyond stock traded up $0.27 on Friday, reaching $19.00. 604,158 shares of the company traded hands, compared to its average volume of 6,935,838. The company has a 50 day moving average of $19.55 and a 200 day moving average of $15.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.50 and a quick ratio of 0.68. 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 $2.39 billion, a PE ratio of -12.24 and a beta of 2.10.

Several brokerages have commented on BBBY. Raymond James boosted their target price on shares of Bed Bath & Beyond from $22.00 to $26.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 14th. Morgan Stanley raised shares of Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock in a report on Thursday, October 29th. The Goldman Sachs Group increased their target price on shares of Bed Bath & Beyond from $5.00 to $12.00 and gave the company a “positive” rating in a report on Tuesday, October 6th. Telsey Advisory Group decreased their price target on Bed Bath & Beyond from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Wedbush restated an “outperform” rating and issued a $25.00 price target on shares of Bed Bath & Beyond in a report on Monday, October 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.50.

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

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

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