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

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

NASDAQ:BBBY opened at $17.28 on Friday. The firm has a market cap of $1.81 billion, a PE ratio of 23.35 and a beta of 1.82. The stock has a fifty day moving average price of $26.35 and a 200 day moving average price of $27.69. Bed Bath & Beyond has a 12-month low of $15.70 and a 12-month high of $53.90. The company has a current ratio of 1.56, a quick ratio of 0.80 and a debt-to-equity ratio of 1.07.

In related news, Director Harriet Edelman bought 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 15th. The stock was purchased at an average cost of $27.47 per share, for a total transaction of $302,170.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

BBBY has been the topic of a number of recent analyst reports. Credit Suisse Group increased their price target on Bed Bath & Beyond from $19.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, July 9th. Zacks Investment Research upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, June 22nd. Loop Capital raised their target price on Bed Bath & Beyond from $24.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, July 1st. UBS Group restated a “sell” rating and issued a $22.00 target price on shares of Bed Bath & Beyond in a research report on Friday, July 2nd. Finally, KeyCorp decreased their target price on Bed Bath & Beyond from $22.00 to $14.00 and set an “underweight” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.20.

Bed Bath & Beyond Company Profile

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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