Bed Bath & Beyond (NASDAQ:BBBY) Issues Q1 2021 Earnings Guidance

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Bed Bath & Beyond (NASDAQ:BBBY) updated its first quarter 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $1.83 B-, compared to the consensus revenue estimate of $1.91 billion.

Shares of NASDAQ BBBY traded down $0.12 during midday trading on Tuesday, reaching $25.05. 4,843,027 shares of the stock were exchanged, compared to its average volume of 10,642,780. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.46 and a quick ratio of 0.81. Bed Bath & Beyond has a 12 month low of $5.10 and a 12 month high of $53.90. The business has a 50-day simple moving average of $28.21 and a two-hundred day simple moving average of $24.83. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -13.75 and a beta of 2.10.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its earnings results on Tuesday, April 13th. The retailer reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Bed Bath & Beyond had a negative return on equity of 7.80% and a negative net margin of 2.32%. The company’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. Equities research analysts expect that Bed Bath & Beyond will post -1.1 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Robert W. Baird downgraded shares of Bed Bath & Beyond from an outperform rating to a neutral rating and increased their price objective for the stock from $30.00 to $37.00 in a research report on Wednesday, January 27th. Telsey Advisory Group dropped their price target on Bed Bath & Beyond from $40.00 to $30.00 and set a market perform rating on the stock in a research note on Wednesday, April 21st. Morgan Stanley upped their price objective on Bed Bath & Beyond from $24.00 to $25.00 and gave the stock an equal weight rating in a research report on Thursday, April 29th. KeyCorp dropped their target price on Bed Bath & Beyond from $24.00 to $22.00 and set an underweight rating on the stock in a research report on Wednesday, April 21st. Finally, Loop Capital reduced their price target on Bed Bath & Beyond from $30.00 to $24.00 and set a hold rating for the company in a research report on Friday, April 16th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $26.00.

In related news, Director Joshua Schechter purchased 3,000 shares of the stock in a transaction on Friday, April 16th. The shares were purchased at an average cost of $25.02 per share, with a total value of $75,060.00. Following the acquisition, the director now directly owns 24,016 shares in the company, valued at $600,880.32. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Gustavo Arnal acquired 20,000 shares of the business’s stock in a transaction on Friday, April 16th. The shares were bought at an average price of $25.45 per share, with a total value of $509,000.00. Following the completion of the transaction, the chief financial officer now directly owns 300,769 shares of the company’s stock, valued at $7,654,571.05. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,500 shares of company stock worth $596,835 over the last three months. 1.30% of the stock is owned by insiders.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. The company sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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

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