$1.86 Billion in Sales Expected for Bed Bath & Beyond Inc. (NASDAQ:BBBY) This Quarter

Wall Street brokerages expect that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will post sales of $1.86 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Bed Bath & Beyond’s earnings, with the highest sales estimate coming in at $1.90 billion and the lowest estimate coming in at $1.84 billion. Bed Bath & Beyond reported sales of $1.31 billion during the same quarter last year, which indicates a positive year over year growth rate of 42%. The business is expected to issue its next quarterly earnings results on Wednesday, July 14th.

According to Zacks, analysts expect that Bed Bath & Beyond will report full year sales of $8.14 billion for the current year, with estimates ranging from $8.05 billion to $8.20 billion. For the next fiscal year, analysts anticipate that the business will report sales of $8.13 billion, with estimates ranging from $7.89 billion to $8.26 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Tuesday, April 13th. The retailer reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.09. Bed Bath & Beyond had a negative net margin of 2.32% and a negative return on equity of 7.80%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis.

BBBY has been the topic of a number of research analyst reports. Raymond James downgraded shares of Bed Bath & Beyond from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, January 26th. Morgan Stanley upped their target price on shares of Bed Bath & Beyond from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. Robert W. Baird downgraded shares of Bed Bath & Beyond from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $30.00 to $37.00 in a research note on Wednesday, January 27th. Wedbush dropped their price objective on shares of Bed Bath & Beyond from $33.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, April 15th. Finally, Standpoint Research downgraded shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Wednesday, January 27th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Bed Bath & Beyond presently has an average rating of “Hold” and a consensus target price of $26.00.

Bed Bath & Beyond stock traded down $0.12 during midday trading on Thursday, reaching $25.05. The stock had a trading volume of 4,843,027 shares, compared to its average volume of 10,642,780. The company has a quick ratio of 0.81, a current ratio of 1.46 and a debt-to-equity ratio of 0.85. Bed Bath & Beyond has a 52-week low of $5.10 and a 52-week high of $53.90. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -13.69 and a beta of 2.10. The company has a fifty day moving average of $28.21 and a 200 day moving average of $24.83.

In other Bed Bath & Beyond news, Director Joshua Schechter bought 3,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Friday, April 16th. The stock was purchased at an average price of $25.02 per share, with a total value of $75,060.00. Following the completion of the acquisition, the director now directly owns 24,016 shares in the company, valued at approximately $600,880.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gustavo Arnal bought 20,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Friday, April 16th. The shares were acquired at an average cost of $25.45 per share, with a total value of $509,000.00. Following the acquisition, the chief financial officer now owns 300,769 shares of the company’s stock, valued at $7,654,571.05. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 23,500 shares of company stock valued at $596,835. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Institute for Wealth Management LLC. purchased a new position in shares of Bed Bath & Beyond during the first quarter worth $219,000. Virginia Retirement Systems ET AL raised its holdings in shares of Bed Bath & Beyond by 36.6% during the first quarter. Virginia Retirement Systems ET AL now owns 19,400 shares of the retailer’s stock worth $566,000 after purchasing an additional 5,200 shares during the last quarter. WASHINGTON TRUST Co purchased a new position in shares of Bed Bath & Beyond during the first quarter worth $44,000. Strs Ohio raised its holdings in shares of Bed Bath & Beyond by 149.3% during the first quarter. Strs Ohio now owns 36,400 shares of the retailer’s stock worth $1,061,000 after purchasing an additional 21,800 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Bed Bath & Beyond by 1.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 51,904 shares of the retailer’s stock worth $1,513,000 after purchasing an additional 972 shares during the last quarter.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. 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 and Estimates for Bed Bath & Beyond (NASDAQ:BBBY)

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