Bed Bath & Beyond (NASDAQ:BBBY) issued its earnings results on Wednesday. The retailer reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.11), MarketWatch Earnings reports. Bed Bath & Beyond had a negative return on equity of 10.67% and a negative net margin of 1.91%. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the business posted ($0.38) earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year.
Bed Bath & Beyond stock traded up $0.50 during mid-day trading on Friday, reaching $19.23. 346,453 shares of the company’s stock were exchanged, compared to its average volume of 6,935,838. The firm has a market capitalization of $2.42 billion, a PE ratio of -12.24 and a beta of 2.10. Bed Bath & Beyond has a one year low of $3.43 and a one year high of $26.16. The company has a quick ratio of 0.68, a current ratio of 1.50 and a debt-to-equity ratio of 0.70. The business’s fifty day simple moving average is $19.55 and its 200 day simple moving average is $15.91.
In related news, Director Joshua Schechter acquired 1,500 shares of Bed Bath & Beyond stock in a transaction on Wednesday, November 11th. The shares were bought at an average cost of $19.87 per share, with a total value of $29,805.00. Following the completion of the purchase, the director now directly owns 21,016 shares of the company’s stock, valued at approximately $417,587.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harriet Edelman bought 7,500 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were acquired at an average cost of $19.94 per share, for a total transaction of $149,550.00. Following the purchase, the director now owns 27,828 shares of the company’s stock, valued at approximately $554,890.32. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently issued reports on the stock. TheStreet raised shares of Bed Bath & Beyond from a “d” rating to a “c-” rating in a research note on Thursday, October 1st. JPMorgan Chase & Co. lifted their price objective on shares of Bed Bath & Beyond from $10.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. ValuEngine cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Tuesday, December 1st. Wells Fargo & Company reissued a “sell” rating and issued a $17.00 price target on shares of Bed Bath & Beyond in a research note on Thursday, October 1st. Finally, Wedbush reiterated an “outperform” rating and set a $25.00 price objective on shares of Bed Bath & Beyond in a research note on Monday, October 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target 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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