Bed Bath & Beyond Inc. (NASDAQ:BBBY) – Investment analysts at Wedbush upped their FY2018 earnings per share estimates for shares of Bed Bath & Beyond in a research report issued to clients and investors on Thursday, Zacks Investment Research reports. Wedbush analyst S. Basham now forecasts that the retailer will post earnings of $3.01 per share for the year, up from their prior forecast of $2.95. Wedbush currently has a “Hold” rating and a $23.00 target price on the stock. Wedbush also issued estimates for Bed Bath & Beyond’s Q4 2018 earnings at $1.38 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.65 EPS, Q4 2019 earnings at $1.27 EPS, FY2019 earnings at $2.73 EPS and FY2020 earnings at $2.47 EPS.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, December 20th. The retailer reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. Bed Bath & Beyond had a return on equity of 19.07% and a net margin of 4.11%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share.
Other equities analysts have also issued research reports about the company. Robert W. Baird reaffirmed a “neutral” rating and set a $23.00 price target (down previously from $28.00) on shares of Bed Bath & Beyond in a research note on Monday, September 18th. Moffett Nathanson started coverage on Bed Bath & Beyond in a research note on Monday, December 4th. They set a “neutral” rating on the stock. KeyCorp cut their price target on Bed Bath & Beyond from $21.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 15th. ValuEngine raised Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Jefferies Group cut their price target on Bed Bath & Beyond to $25.00 and set an “underperform” rating on the stock in a research note on Friday, December 22nd. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.24.
Bed Bath & Beyond (NASDAQ:BBBY) opened at $22.82 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.31. The company has a market capitalization of $3,249.86, a price-to-earnings ratio of 6.32, a price-to-earnings-growth ratio of -3.80 and a beta of 1.09. Bed Bath & Beyond has a one year low of $19.07 and a one year high of $41.98.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Friday, March 16th will be issued a $0.15 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.63%. Bed Bath & Beyond’s dividend payout ratio (DPR) is currently 17.24%.
In other Bed Bath & Beyond news, VP Matthew Fiorilli sold 16,957 shares of the stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $22.62, for a total value of $383,567.34. Following the completion of the sale, the vice president now directly owns 97,419 shares in the company, valued at $2,203,617.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of BBBY. Ffcm LLC boosted its position in Bed Bath & Beyond by 2,958.6% during the third quarter. Ffcm LLC now owns 4,435 shares of the retailer’s stock valued at $104,000 after purchasing an additional 4,290 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Bed Bath & Beyond by 928.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,836 shares of the retailer’s stock valued at $117,000 after purchasing an additional 3,463 shares during the last quarter. Psagot Investment House Ltd. acquired a new position in Bed Bath & Beyond during the third quarter valued at approximately $217,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Bed Bath & Beyond during the third quarter valued at approximately $222,000. Finally, Point View Wealth Management Inc. boosted its position in Bed Bath & Beyond by 55.9% during the second quarter. Point View Wealth Management Inc. now owns 8,020 shares of the retailer’s stock valued at $244,000 after purchasing an additional 2,876 shares during the last quarter. 94.20% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This article was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/01/14/fy2018-earnings-forecast-for-bed-bath-beyond-inc-issued-by-wedbush-bbby.html.
About Bed Bath & Beyond
Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).
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
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.