Brokerages Anticipate Bed Bath & Beyond Inc. (BBBY) Will Announce Quarterly Sales of $3.67 Billion

Wall Street brokerages expect Bed Bath & Beyond Inc. (NASDAQ:BBBY) to report sales of $3.67 billion for the current quarter, according to Zacks. Eight analysts have issued estimates for Bed Bath & Beyond’s earnings, with the highest sales estimate coming in at $3.73 billion and the lowest estimate coming in at $3.64 billion. Bed Bath & Beyond reported sales of $3.53 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4%. The business is scheduled to report its next quarterly earnings results on Wednesday, April 4th.

On average, analysts expect that Bed Bath & Beyond will report full year sales of $3.67 billion for the current financial year, with estimates ranging from $12.25 billion to $12.36 billion. For the next fiscal year, analysts forecast that the company will post sales of $12.11 billion per share, with estimates ranging from $11.90 billion to $12.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, December 20th. The retailer reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Bed Bath & Beyond had a net margin of 4.11% and a return on equity of 19.07%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share.

BBBY has been the subject of a number of recent research reports. Loop Capital set a $23.00 price target on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a report on Thursday, January 4th. ValuEngine downgraded shares of Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 31st. Moffett Nathanson initiated coverage on shares of Bed Bath & Beyond in a report on Monday, December 4th. They set a “neutral” rating for the company. BidaskClub downgraded shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Finally, Morgan Stanley set a $22.00 target price on shares of Bed Bath & Beyond and gave the stock a “sell” rating in a research report on Thursday, December 21st. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.24.

Shares of Bed Bath & Beyond (BBBY) opened at $23.72 on Monday. The company has a market cap of $3,378.03, a PE ratio of 6.82, a PEG ratio of -3.95 and a beta of 1.09. Bed Bath & Beyond has a twelve month low of $19.07 and a twelve month high of $41.96. The company has a current ratio of 1.67, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 16th will be given a $0.15 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.53%. Bed Bath & Beyond’s dividend payout ratio is presently 17.24%.

In related news, VP Matthew Fiorilli sold 16,957 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $22.62, for a total value of $383,567.34. Following the sale, the vice president now directly owns 97,419 shares of the company’s stock, valued at $2,203,617.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. LS Investment Advisors LLC lifted its position in Bed Bath & Beyond by 59.4% during the third quarter. LS Investment Advisors LLC now owns 16,684 shares of the retailer’s stock valued at $392,000 after buying an additional 6,217 shares in the last quarter. Commonwealth Bank of Australia lifted its position in Bed Bath & Beyond by 92.3% during the third quarter. Commonwealth Bank of Australia now owns 160,606 shares of the retailer’s stock valued at $3,765,000 after buying an additional 77,095 shares in the last quarter. Sciencast Management LP acquired a new position in Bed Bath & Beyond during the second quarter valued at approximately $648,000. U S Global Investors Inc. acquired a new position in Bed Bath & Beyond during the second quarter valued at approximately $409,000. Finally, Bank of Nova Scotia lifted its position in Bed Bath & Beyond by 1,616.3% during the second quarter. Bank of Nova Scotia now owns 531,128 shares of the retailer’s stock valued at $16,147,000 after buying an additional 500,182 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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About Bed Bath & Beyond

Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).

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Earnings History and Estimates for Bed Bath & Beyond (NASDAQ:BBBY)

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