$1.86 Billion in Sales Expected for Bed Bath & Beyond Inc. (NASDAQ:BBBY) This Quarter

Equities research analysts expect Bed Bath & Beyond Inc. (NASDAQ:BBBY) to post sales of $1.86 billion for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Bed Bath & Beyond’s earnings, with the lowest sales estimate coming in at $1.84 billion and the highest estimate coming in at $1.90 billion. Bed Bath & Beyond posted sales of $1.31 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 42%. The business is expected to report its next quarterly earnings report on Wednesday, July 14th.

According to Zacks, analysts expect that Bed Bath & Beyond will report full year sales of $8.14 billion for the current year, with estimates ranging from $8.05 billion to $8.20 billion. For the next fiscal year, analysts expect that the company will report sales of $8.13 billion, with estimates ranging from $7.89 billion to $8.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Bed Bath & Beyond.

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

BBBY has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Bed Bath & Beyond from $23.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, April 19th. Zacks Investment Research raised Bed Bath & Beyond from a “sell” rating to a “hold” rating and set a $31.00 price objective on the stock in a report on Thursday, February 11th. Bank of America raised Bed Bath & Beyond from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, February 11th. Morgan Stanley upped their price objective on Bed Bath & Beyond from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, April 23rd. Finally, Loop Capital decreased their price objective on Bed Bath & Beyond from $30.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, April 16th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $26.00.

In other Bed Bath & Beyond news, CFO Gustavo Arnal purchased 20,000 shares of the firm’s stock in a transaction on Friday, April 16th. The stock was bought at an average cost of $25.45 per share, for a total transaction of $509,000.00. Following the completion of the purchase, the chief financial officer now owns 300,769 shares in the company, valued at approximately $7,654,571.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua Schechter purchased 3,000 shares of the firm’s stock in a transaction on Friday, April 16th. The stock was acquired at an average price of $25.02 per share, with a total value of $75,060.00. Following the completion of the purchase, the director now owns 24,016 shares of the company’s stock, valued at approximately $600,880.32. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,500 shares of company stock valued at $596,835 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Vantage Consulting Group Inc purchased a new stake in Bed Bath & Beyond in the fourth quarter valued at about $25,000. Logan Capital Management Inc. purchased a new stake in Bed Bath & Beyond in the first quarter valued at about $29,000. Ameritas Investment Company LLC purchased a new stake in Bed Bath & Beyond in the first quarter valued at about $34,000. Signaturefd LLC purchased a new stake in Bed Bath & Beyond in the fourth quarter valued at about $43,000. Finally, WASHINGTON TRUST Co purchased a new stake in Bed Bath & Beyond in the first quarter valued at about $44,000. Institutional investors own 95.57% of the company’s stock.

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

Bed Bath & Beyond Company Profile

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.

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

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