Bed Bath & Beyond (BBBY) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS
Bed Bath & Beyond (NASDAQ:BBBY) posted its quarterly earnings results on Wednesday. The company reported $0.93 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.95 by $0.02, American Banking News reports. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.69 billion.
A number of analysts have recently weighed in on BBBY shares. Analysts at Argus reiterated a “buy” rating on shares of Bed Bath & Beyond in a research note on Wednesday. They now have a $60.64 price target on the stock, down previously from $80.00. On a related note, analysts at Morgan Stanley initiated coverage on shares of Bed Bath & Beyond in a research note on Tuesday. They set an “underweight” rating and a $63.00 price target on the stock. Finally, analysts at Wolfe Research downgraded shares of Bed Bath & Beyond to an “underperform” rating in a research note on Tuesday, June 10th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $72.08.
Bed Bath & Beyond (NASDAQ:BBBY) traded up 0.78% during mid-day trading on Wednesday, hitting $61.11. The stock had a trading volume of 4,175,111 shares. Bed Bath & Beyond has a 52-week low of $59.89 and a 52-week high of $80.82. The stock’s 50-day moving average is $61.29 and its 200-day moving average is $66.82. The company has a market cap of $12.311 billion and a P/E ratio of 12.66.
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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