Wedbush reiterated their outperform rating on shares of Bed Bath & Beyond (NASDAQ:BBBY) in a research report released on Thursday morning, 24/7 WallStreet reports. The brokerage currently has a $16.00 price objective on the retailer’s stock. Wedbush also issued estimates for Bed Bath & Beyond’s Q3 2020 earnings at $0.03 EPS, FY2020 earnings at $2.05 EPS, Q2 2021 earnings at $0.26 EPS, Q3 2021 earnings at $0.08 EPS and FY2022 earnings at $2.75 EPS.
A number of other research analysts have also weighed in on BBBY. Robert W. Baird cut their price objective on Bed Bath & Beyond from $18.00 to $13.00 and set a neutral rating on the stock in a report on Thursday, July 11th. UBS Group lowered their target price on Bed Bath & Beyond from $13.00 to $11.00 and set a neutral rating on the stock in a research note on Thursday, October 3rd. ValuEngine upgraded Bed Bath & Beyond from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Telsey Advisory Group upgraded Bed Bath & Beyond from a market perform rating to an outperform rating and upped their target price for the stock from $14.00 to $16.00 in a research note on Thursday. Finally, Bank of America set a $20.00 target price on Bed Bath & Beyond and gave the stock a buy rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Bed Bath & Beyond has a consensus rating of Hold and an average price target of $14.44.
Shares of BBBY stock traded down $0.69 during mid-day trading on Thursday, reaching $12.30. The stock had a trading volume of 12,857,502 shares, compared to its average volume of 7,356,138. The business’s fifty day moving average is $9.88 and its 200-day moving average is $12.29. The company has a current ratio of 1.46, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 6.30 and a beta of 1.25. Bed Bath & Beyond has a 1-year low of $7.31 and a 1-year high of $19.57.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, October 2nd. The retailer reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. Bed Bath & Beyond had a positive return on equity of 10.20% and a negative net margin of 6.36%. The company’s revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, analysts forecast that Bed Bath & Beyond will post 1.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, December 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.68 dividend on an annualized basis and a yield of 5.53%. Bed Bath & Beyond’s dividend payout ratio is currently 33.17%.
A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. purchased a new position in Bed Bath & Beyond during the third quarter worth approximately $489,000. Dalton Greiner Hartman Maher & Co. boosted its position in Bed Bath & Beyond by 1.7% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 489,381 shares of the retailer’s stock worth $5,207,000 after purchasing an additional 8,169 shares in the last quarter. Cerebellum GP LLC purchased a new position in Bed Bath & Beyond during the third quarter worth approximately $121,000. State of Alaska Department of Revenue purchased a new position in Bed Bath & Beyond during the third quarter worth approximately $241,000. Finally, UBS Group AG boosted its position in Bed Bath & Beyond by 15.2% during the second quarter. UBS Group AG now owns 856,851 shares of the retailer’s stock worth $9,956,000 after purchasing an additional 112,948 shares in the last quarter.
Bed Bath & Beyond Company Profile
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.
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