Brokerages predict that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will report $3.67 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Bed Bath & Beyond’s earnings, with estimates ranging from $3.64 billion to $3.73 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 company is scheduled to issue its next earnings results after the market closes on Wednesday, April 11th.
On average, analysts expect that Bed Bath & Beyond will report full-year sales of $3.67 billion for the current fiscal 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 $12.09 billion per share, with estimates ranging from $11.90 billion to $12.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Bed Bath & Beyond.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, December 20th. The retailer reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Bed Bath & Beyond had a return on equity of 19.07% and a net margin of 4.11%. Bed Bath & Beyond’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS.
Shares of Bed Bath & Beyond (NASDAQ BBBY) opened at $22.50 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.31. The company has a market capitalization of $3,228.50, a PE ratio of 6.28, a PEG ratio of -4.06 and a beta of 1.10. Bed Bath & Beyond has a 52 week low of $19.07 and a 52 week high of $40.76.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 16th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.60 dividend on an annualized basis and a yield of 2.67%. Bed Bath & Beyond’s payout ratio is 17.24%.
In other news, VP Matthew Fiorilli sold 16,957 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $22.62, for a total transaction of $383,567.34. Following the completion of the transaction, the vice president now directly owns 97,419 shares of the company’s stock, valued at approximately $2,203,617.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of BBBY. Ffcm LLC grew its stake in shares of Bed Bath & Beyond by 2,958.6% during the 3rd quarter. Ffcm LLC now owns 4,435 shares of the retailer’s stock worth $104,000 after acquiring an additional 4,290 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of Bed Bath & Beyond during the 4th quarter worth approximately $121,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Bed Bath & Beyond during the 4th quarter worth approximately $149,000. Captrust Financial Advisors bought a new position in shares of Bed Bath & Beyond during the 4th quarter worth approximately $151,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Bed Bath & Beyond during the 4th quarter worth approximately $180,000. 91.33% of the stock is owned by 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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