Jefferies Financial Group Research Analysts Boost Earnings Estimates for Bed Bath & Beyond Inc. (BBBY)

Bed Bath & Beyond Inc. (NASDAQ:BBBY) – Research analysts at Jefferies Financial Group boosted their FY2020 EPS estimates for shares of Bed Bath & Beyond in a research note issued on Thursday, April 11th. Jefferies Financial Group analyst J. Matuszewski now anticipates that the retailer will post earnings per share of $2.12 for the year, up from their prior estimate of $1.70. Jefferies Financial Group also issued estimates for Bed Bath & Beyond’s FY2021 earnings at $2.60 EPS.

Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Wednesday, April 10th. The retailer reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.09. Bed Bath & Beyond had a negative net margin of 1.14% and a positive return on equity of 9.77%. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the company posted $1.48 EPS.

Other research analysts have also issued reports about the stock. Raymond James raised shares of Bed Bath & Beyond from an “outperform” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, March 26th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Thursday, March 28th. Loop Capital raised their target price on shares of Bed Bath & Beyond to $16.00 and gave the stock an “average” rating in a research note on Friday, March 29th. Morgan Stanley raised shares of Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $13.00 to $20.00 in a research note on Friday, April 5th. Finally, UBS Group raised their target price on shares of Bed Bath & Beyond from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $17.61.

BBBY opened at $17.29 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.63 and a current ratio of 1.86. Bed Bath & Beyond has a 1-year low of $10.46 and a 1-year high of $21.44. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 9.10 and a beta of 1.15.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Bed Bath & Beyond by 29.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,276 shares of the retailer’s stock worth $37,000 after buying an additional 737 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Bed Bath & Beyond by 1,508.4% during the 4th quarter. Parallel Advisors LLC now owns 4,793 shares of the retailer’s stock worth $54,000 after buying an additional 4,495 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Bed Bath & Beyond by 1,032.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 625,758 shares of the retailer’s stock worth $55,000 after buying an additional 570,479 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Bed Bath & Beyond by 413.9% during the 4th quarter. Acadian Asset Management LLC now owns 6,490 shares of the retailer’s stock worth $73,000 after buying an additional 5,227 shares during the last quarter. Finally, Psagot Investment House Ltd. acquired a new stake in shares of Bed Bath & Beyond during the 4th quarter worth approximately $79,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.93%. This is an increase from Bed Bath & Beyond’s previous quarterly dividend of $0.16. Bed Bath & Beyond’s dividend payout ratio (DPR) is currently 31.22%.

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.

Further Reading: Earnings Per Share

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

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