Bed Bath & Beyond (NASDAQ:BBBY) announced its quarterly earnings data on Thursday. The retailer reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.76, MarketWatch Earnings reports. Bed Bath & Beyond had a negative net margin of 5.51% and a negative return on equity of 11.52%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Bed Bath & Beyond’s quarterly revenue was down 1.1% on a year-over-year basis.
NASDAQ BBBY opened at $18.75 on Friday. The firm has a 50 day simple moving average of $12.54 and a 200-day simple moving average of $8.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.64 and a current ratio of 1.55. Bed Bath & Beyond has a one year low of $3.43 and a one year high of $20.37. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -4.26 and a beta of 2.37.
In other Bed Bath & Beyond news, Director Ann Yerger acquired 6,000 shares of the stock in a transaction dated Friday, July 10th. The stock was acquired at an average price of $8.29 per share, with a total value of $49,740.00. Following the completion of the purchase, the director now owns 17,371 shares in the company, valued at approximately $144,005.59. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sue Gove acquired 34,000 shares of the stock in a transaction dated Monday, July 13th. The stock was acquired at an average cost of $7.89 per share, with a total value of $268,260.00. Following the purchase, the director now owns 42,342 shares of the company’s stock, valued at approximately $334,078.38. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
A number of brokerages recently issued reports on BBBY. Wells Fargo & Company reissued a “sell” rating and issued a $17.00 price objective on shares of Bed Bath & Beyond in a report on Thursday. Morgan Stanley upped their price objective on shares of Bed Bath & Beyond from $3.00 to $6.00 and gave the company an “underweight” rating in a report on Thursday, July 9th. UBS Group upped their price objective on shares of Bed Bath & Beyond from $5.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. BidaskClub raised shares of Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Telsey Advisory Group upped their price objective on shares of Bed Bath & Beyond from $13.00 to $23.00 and gave the company a “market perform” rating in a report on Friday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.31.
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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