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

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

BBBY traded up $0.50 on Friday, reaching $19.23. The stock had a trading volume of 346,453 shares, compared to its average volume of 6,935,838. Bed Bath & Beyond has a fifty-two week low of $3.43 and a fifty-two week high of $26.16. The firm has a 50-day moving average of $19.55 and a 200-day moving average of $15.91. The company has a current ratio of 1.50, a quick ratio of 0.68 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -12.24 and a beta of 2.10.

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Bed Bath & Beyond from $5.00 to $12.00 and gave the stock a “positive” rating in a research report on Tuesday, October 6th. Morgan Stanley upgraded Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and set a $24.00 target price on the stock in a report on Thursday, October 29th. ValuEngine cut Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Tuesday, December 1st. JPMorgan Chase & Co. boosted their price target on Bed Bath & Beyond from $10.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. Finally, TheStreet raised Bed Bath & Beyond from a “d” rating to a “c-” rating in a research report on Thursday, October 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Bed Bath & Beyond presently has an average rating of “Hold” and an average target price of $17.50.

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