Bed Bath & Beyond (NASDAQ:BBBY) Announces Quarterly Earnings Results, Misses Expectations By $0.48 EPS

Bed Bath & Beyond (NASDAQ:BBBY) issued its quarterly earnings data on Wednesday. The retailer reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.48), MarketWatch Earnings reports. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. Bed Bath & Beyond had a net margin of 1.02% and a return on equity of 9.10%. Bed Bath & Beyond’s revenue was down 26.2% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share.

Bed Bath & Beyond stock opened at $17.28 on Friday. The firm has a 50 day simple moving average of $26.35 and a 200 day simple moving average of $27.69. The company has a current ratio of 1.56, a quick ratio of 0.80 and a debt-to-equity ratio of 1.07. Bed Bath & Beyond has a 1-year low of $15.70 and a 1-year high of $53.90. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 23.35 and a beta of 1.82.

In related news, Director Harriet Edelman bought 11,000 shares of the company’s stock in a transaction on Thursday, July 15th. The shares were purchased at an average price of $27.47 per share, for a total transaction of $302,170.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

BBBY has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Bed Bath & Beyond from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, July 1st. Credit Suisse Group boosted their target price on Bed Bath & Beyond from $19.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, July 9th. Bank of America upgraded Bed Bath & Beyond from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Thursday, June 24th. B. Riley initiated coverage on Bed Bath & Beyond in a research report on Thursday, July 1st. They set a “buy” rating and a $44.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of Bed Bath & Beyond from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.67.

About Bed Bath & Beyond

Bed Bath & Beyond, Inc engages in the operation of retail stores and retails domestics merchandise and home furnishings. Its products include domestic merchandise and home furnishings such as bed linens and related items, bath items, kitchen textiles kitchen and tabletop items, fine tabletop, basic house wares, general home furnishings, and consumables.

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

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