Bed Bath & Beyond (NASDAQ:BBBY) announced its quarterly earnings data on Wednesday. The retailer reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.11), MarketWatch Earnings reports. Bed Bath & Beyond had a negative net margin of 1.91% and a negative return on equity of 10.67%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the business posted ($0.38) earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year.
BBBY traded up $0.46 on Friday, hitting $19.19. The company had a trading volume of 372,711 shares, compared to its average volume of 6,935,838. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.50 and a quick ratio of 0.68. Bed Bath & Beyond has a 52-week low of $3.43 and a 52-week high of $26.16. The stock has a fifty day simple moving average of $19.55 and a 200-day simple moving average of $15.91. The firm has a market capitalization of $2.42 billion, a P/E ratio of -12.24 and a beta of 2.10.
BBBY has been the topic of a number of recent research reports. Morgan Stanley raised Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 29th. Loop Capital raised their price objective on Bed Bath & Beyond from $9.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, October 2nd. The Goldman Sachs Group raised their price objective on Bed Bath & Beyond from $5.00 to $12.00 and gave the company a “positive” rating in a research note on Tuesday, October 6th. Raymond James raised their price objective on Bed Bath & Beyond from $22.00 to $26.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 14th. Finally, Bank of America increased their target price on shares of Bed Bath & Beyond from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Bed Bath & Beyond presently has a consensus rating of “Hold” and an average target price of $17.50.
In other Bed Bath & Beyond news, Director Harriet Edelman bought 7,500 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was acquired at an average price of $19.94 per share, with a total value of $149,550.00. Following the completion of the purchase, the director now owns 27,828 shares of the company’s stock, valued at $554,890.32. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joshua Schechter bought 1,500 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were acquired at an average cost of $19.87 per share, with a total value of $29,805.00. Following the purchase, the director now directly owns 21,016 shares of the company’s stock, valued at approximately $417,587.92. The disclosure for this purchase can be found here. Company 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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