Bed Bath & Beyond Inc. (NASDAQ:BBBY) declared a quarterly dividend on Thursday, January 10th, Wall Street Journal reports. Shareholders of record on Friday, March 15th will be paid a dividend of 0.16 per share by the retailer on Tuesday, April 16th. This represents a $0.64 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, March 14th.
Bed Bath & Beyond has a dividend payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bed Bath & Beyond to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 41.3%.
Shares of BBBY opened at $14.29 on Friday. Bed Bath & Beyond has a fifty-two week low of $10.46 and a fifty-two week high of $24.08. The firm has a market capitalization of $1.69 billion, a P/E ratio of 4.58, a price-to-earnings-growth ratio of 6.08 and a beta of 0.90. The company has a current ratio of 1.75, a quick ratio of 0.60 and a debt-to-equity ratio of 0.51.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, January 9th. The retailer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Bed Bath & Beyond had a net margin of 2.50% and a return on equity of 11.08%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. Bed Bath & Beyond’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts anticipate that Bed Bath & Beyond will post 2.02 EPS for the current year.
Several equities research analysts recently weighed in on BBBY shares. Zacks Investment Research cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Wells Fargo & Co restated a “sell” rating and issued a $11.00 price target on shares of Bed Bath & Beyond in a research report on Monday. Telsey Advisory Group restated a “market perform” rating and issued a $13.00 price target (down previously from $16.00) on shares of Bed Bath & Beyond in a research report on Friday, January 4th. Deutsche Bank set a $14.00 price target on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a research report on Thursday, September 27th. Finally, Bank of America reduced their price target on shares of Bed Bath & Beyond from $16.00 to $13.00 and set a “sell” rating on the stock in a research report on Thursday, September 27th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.23.
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About Bed Bath & Beyond
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It 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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