Zacks: Analysts Anticipate Bed Bath & Beyond Inc. (BBBY) Will Post Quarterly Sales of $3.04 Billion

Equities research analysts expect that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will post $3.04 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Bed Bath & Beyond’s earnings, with the highest sales estimate coming in at $3.09 billion and the lowest estimate coming in at $2.98 billion. Bed Bath & Beyond posted sales of $2.95 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The company is expected to announce its next earnings results on Wednesday, December 19th.

According to Zacks, analysts expect that Bed Bath & Beyond will report full year sales of $12.14 billion for the current financial year, with estimates ranging from $12.02 billion to $12.22 billion. For the next year, analysts expect that the business will report sales of $12.11 billion, with estimates ranging from $11.88 billion to $12.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, September 26th. The retailer reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.13). The business had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Bed Bath & Beyond had a net margin of 2.81% and a return on equity of 12.52%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS.



Several equities analysts have recently weighed in on the stock. BidaskClub cut shares of Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Standpoint Research cut Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Zacks Investment Research cut Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Wedbush set a $18.00 target price on Bed Bath & Beyond and gave the company a “hold” rating in a research report on Thursday, September 13th. Finally, Raymond James raised Bed Bath & Beyond from an “underperform” rating to a “market perform” rating in a research report on Monday, September 17th. Ten analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Bed Bath & Beyond presently has an average rating of “Hold” and an average target price of $17.07.

Shares of BBBY traded down $0.20 on Tuesday, reaching $13.24. The stock had a trading volume of 4,518,553 shares, compared to its average volume of 5,444,856. The stock has a market cap of $1.83 billion, a PE ratio of 4.24, a PEG ratio of 6.59 and a beta of 0.96. The company has a quick ratio of 0.60, a current ratio of 1.75 and a debt-to-equity ratio of 0.51. Bed Bath & Beyond has a 12-month low of $13.03 and a 12-month high of $24.74.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Thursday, December 13th. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 20.51%.

Several large investors have recently bought and sold shares of the company. Whittier Trust Co. boosted its holdings in shares of Bed Bath & Beyond by 611.5% during the 2nd quarter. Whittier Trust Co. now owns 4,326 shares of the retailer’s stock worth $248,000 after purchasing an additional 3,718 shares during the last quarter. Signaturefd LLC raised its position in Bed Bath & Beyond by 124.8% in the second quarter. Signaturefd LLC now owns 5,930 shares of the retailer’s stock valued at $118,000 after purchasing an additional 3,292 shares during the period. Ardsley Advisory Partners purchased a new stake in Bed Bath & Beyond in the second quarter valued at approximately $199,000. Commonwealth Equity Services LLC purchased a new stake in Bed Bath & Beyond in the second quarter valued at approximately $205,000. Finally, DRW Securities LLC purchased a new stake in Bed Bath & Beyond in the second quarter valued at approximately $229,000. Hedge funds and other institutional investors own 94.22% of the company’s stock.

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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