Bed Bath & Beyond (BBBY) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Bed Bath & Beyond (NASDAQ:BBBY) announced its earnings results on Wednesday. The company reported $1.12 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.15 by $0.03, American Banking News reports. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Bed Bath & Beyond updated its Q4 guidance to $1.60-1.67 EPS.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded up 0.59% on Wednesday, hitting $79.68. The stock had a trading volume of 3,918,061 shares. Bed Bath & Beyond has a 1-year low of $54.62 and a 1-year high of $80.82. The stock’s 50-day moving average is $78.10 and its 200-day moving average is $75.98. The company has a market cap of $16.792 billion and a price-to-earnings ratio of 16.49. Bed Bath & Beyond also was the recipient of some unusual options trading on Monday. Traders acquired 7,935 put options on the company. This is an increase of 644% compared to the typical daily volume of 1,066 put options.
Several analysts have recently commented on the stock. Analysts at UBS AG reiterated a “neutral” rating on shares of Bed Bath & Beyond in a research note to investors on Monday. They now have a $84.00 price target on the stock, up previously from $80.00. On the ratings front, analysts at Thomson Reuters/Verus downgraded shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, December 24th. Finally, analysts at ISI Group upgraded shares of Bed Bath & Beyond to a “neutral” rating in a research note to investors on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $80.95.
Bed Bath & Beyond Inc is a chain of retail stores, operating under the names Bed Bath & Beyond (NASDAQ:BBBY), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), buybuy BABY and World Market or Cost Plus World Market (World Market).
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