Bed Bath & Beyond Inc. (BBBY) Releases Q2 Earnings Guidance
Bed Bath & Beyond Inc. (NASDAQ:BBBY) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.08-1.16 for the period, compared to the Thomson Reuters consensus estimate of $1.20, Analyst Ratings Network reports.
Several analysts have recently commented on the stock. 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 issued a hold rating and six have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $72.08.
Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) traded up 0.78% during mid-day trading on Wednesday, hitting $61.11. 4,858,411 shares of the company’s stock traded hands. Bed Bath & Beyond Inc. has a 1-year low of $59.89 and a 1-year high of $80.82. The stock has a 50-day moving average of $61.29 and a 200-day moving average of $66.82. The company has a market cap of $12.311 billion and a P/E ratio of 12.66.
Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings data on Wednesday, June 25th. The company reported $0.93 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.95 by $0.02. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company posted $0.93 earnings per share. Bed Bath & Beyond’s revenue was up 1.7% compared to the same quarter last year. Analysts expect that Bed Bath & Beyond Inc. will post $5.05 EPS for the current fiscal year.
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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