Bed Bath & Beyond (NASDAQ:BBBY) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Bed Bath & Beyond (NASDAQ:BBBY) released its quarterly earnings data on Wednesday. The retailer reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.11), MarketWatch Earnings reports. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.74 billion. Bed Bath & Beyond had a negative return on equity of 10.67% and a negative net margin of 1.91%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted ($0.38) EPS.

NASDAQ BBBY traded up $0.44 during mid-day trading on Friday, hitting $19.17. The stock had a trading volume of 555,382 shares, compared to its average volume of 6,935,838. Bed Bath & Beyond has a 52-week low of $3.43 and a 52-week high of $26.16. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -12.24 and a beta of 2.10. The company has a 50 day simple moving average of $19.55 and a 200 day simple moving average of $15.91. The company has a quick ratio of 0.68, a current ratio of 1.50 and a debt-to-equity ratio of 0.70.

In related news, Director Joshua Schechter purchased 1,500 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was bought at an average price of $19.87 per share, with a total value of $29,805.00. Following the completion of the transaction, the director now owns 21,016 shares of the company’s stock, valued at approximately $417,587.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harriet Edelman purchased 7,500 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were bought at an average cost of $19.94 per share, with a total value of $149,550.00. Following the transaction, the director now directly owns 27,828 shares of the company’s stock, valued at approximately $554,890.32. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

Several brokerages have recently commented on BBBY. Telsey Advisory Group decreased their price target on Bed Bath & Beyond from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company restated a “sell” rating and set a $17.00 price target on shares of Bed Bath & Beyond in a report on Thursday, October 1st. BidaskClub downgraded Bed Bath & Beyond from a “buy” rating to a “hold” rating in a report on Tuesday, December 8th. ValuEngine downgraded Bed Bath & Beyond from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. Finally, Raymond James upped their target price on Bed Bath & Beyond from $22.00 to $26.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.50.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. 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 for Bed Bath & Beyond (NASDAQ:BBBY)

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