Zacks: Analysts Expect Bed Bath & Beyond Inc. (NASDAQ:BBBY) to Post $0.09 EPS

Brokerages forecast that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will report earnings per share of $0.09 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Bed Bath & Beyond’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at $0.24. Bed Bath & Beyond reported earnings of ($1.96) per share during the same quarter last year, which would suggest a positive year over year growth rate of 104.6%. The business is scheduled to report its next earnings results on Wednesday, July 14th.

According to Zacks, analysts expect that Bed Bath & Beyond will report full year earnings of $1.50 per share for the current year, with EPS estimates ranging from $1.34 to $1.71. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.30 per share, with EPS estimates ranging from $1.69 to $3.51. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Wednesday, April 14th. The retailer reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. Bed Bath & Beyond had a negative net margin of 1.63% and a negative return on equity of 8.44%. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s revenue was down 15.7% on a year-over-year basis.

Several brokerages have weighed in on BBBY. Bank of America upgraded shares of Bed Bath & Beyond from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Thursday, February 11th. JPMorgan Chase & Co. raised their target price on shares of Bed Bath & Beyond from $23.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, April 19th. Wedbush decreased their target price on shares of Bed Bath & Beyond from $33.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, April 15th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a report on Thursday, February 11th. Finally, KeyCorp decreased their target price on shares of Bed Bath & Beyond from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, April 15th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Bed Bath & Beyond currently has an average rating of “Hold” and a consensus price target of $26.00.

Bed Bath & Beyond stock traded down $2.75 during midday trading on Thursday, hitting $31.54. The company’s stock had a trading volume of 223,777 shares, compared to its average volume of 10,786,169. Bed Bath & Beyond has a 1-year low of $7.30 and a 1-year high of $53.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.85 and a current ratio of 1.58. The company has a 50-day simple moving average of $27.23. The company has a market capitalization of $3.36 billion, a P/E ratio of -26.62 and a beta of 1.83.

In other Bed Bath & Beyond news, CFO Gustavo Arnal bought 20,000 shares of Bed Bath & Beyond stock in a transaction on Friday, April 16th. The shares were purchased at an average cost of $25.45 per share, with a total value of $509,000.00. Following the acquisition, the chief financial officer now directly owns 300,769 shares of the company’s stock, valued at approximately $7,654,571.05. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joshua Schechter bought 3,000 shares of Bed Bath & Beyond stock in a transaction on Friday, April 16th. The shares were acquired at an average cost of $25.02 per share, for a total transaction of $75,060.00. Following the completion of the acquisition, the director now directly owns 24,016 shares in the company, valued at $600,880.32. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,500 shares of company stock worth $596,835 over the last three months. Insiders own 1.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BBBY. First Trust Advisors LP lifted its position in shares of Bed Bath & Beyond by 14.1% in the 1st quarter. First Trust Advisors LP now owns 270,168 shares of the retailer’s stock worth $4,590,000 after purchasing an additional 33,307 shares during the period. Strs Ohio acquired a new position in shares of Bed Bath & Beyond in the 4th quarter worth approximately $259,000. Victory Capital Management Inc. lifted its position in shares of Bed Bath & Beyond by 17.6% in the 4th quarter. Victory Capital Management Inc. now owns 638,883 shares of the retailer’s stock worth $11,347,000 after purchasing an additional 95,786 shares during the period. Hodges Capital Management Inc. acquired a new position in shares of Bed Bath & Beyond in the 4th quarter worth approximately $1,559,000. Finally, Koshinski Asset Management Inc. acquired a new position in shares of Bed Bath & Beyond in the 4th quarter worth approximately $284,000. 95.57% of the stock is currently owned by hedge funds and other institutional investors.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. 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.

Further Reading: Rule of 72

Get a free copy of the Zacks research report on Bed Bath & Beyond (BBBY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Bed Bath & Beyond Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bed Bath & Beyond and related companies with MarketBeat.com's FREE daily email newsletter.