Bed Bath & Beyond (NASDAQ:BBBY) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Bed Bath & Beyond (NASDAQ:BBBY) released its quarterly earnings results on Wednesday. The retailer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04, RTT News reports. Bed Bath & Beyond had a negative net margin of 4.66% and a positive return on equity of 9.49%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. Bed Bath & Beyond’s revenue for the quarter was down 6.6% on a year-over-year basis. Bed Bath & Beyond updated its FY 2019 guidance to $2.11-2.11 EPS.

Shares of Bed Bath & Beyond stock opened at $10.89 on Friday. The stock has a market cap of $1.43 billion, a P/E ratio of 6.01, a P/E/G ratio of 5.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 1.52. Bed Bath & Beyond has a one year low of $10.43 and a one year high of $20.38. The stock’s fifty day moving average price is $12.11.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.68 dividend on an annualized basis and a yield of 6.24%. Bed Bath & Beyond’s payout ratio is currently 33.17%.

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its stake in shares of Bed Bath & Beyond by 13.6% during the 1st quarter. Parallel Advisors LLC now owns 5,446 shares of the retailer’s stock worth $93,000 after purchasing an additional 653 shares during the period. Mason Street Advisors LLC grew its stake in shares of Bed Bath & Beyond by 1.1% during the 1st quarter. Mason Street Advisors LLC now owns 73,103 shares of the retailer’s stock worth $1,242,000 after purchasing an additional 792 shares during the period. Signaturefd LLC grew its stake in shares of Bed Bath & Beyond by 13.3% during the 1st quarter. Signaturefd LLC now owns 10,825 shares of the retailer’s stock worth $184,000 after purchasing an additional 1,268 shares during the period. Rhumbline Advisers grew its stake in shares of Bed Bath & Beyond by 0.3% during the 1st quarter. Rhumbline Advisers now owns 424,700 shares of the retailer’s stock worth $7,216,000 after purchasing an additional 1,313 shares during the period. Finally, Investors Research Corp acquired a new position in shares of Bed Bath & Beyond during the 1st quarter worth $27,000. Institutional investors own 97.43% of the company’s stock.

Several research firms recently commented on BBBY. UBS Group reiterated a “buy” rating and issued a $70.00 price target on shares of Lumentum in a research report on Thursday, April 11th. Deutsche Bank upped their price target on shares of Bed Bath & Beyond from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Thursday, April 11th. Wolfe Research upgraded shares of TD Ameritrade from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 27th. Goldman Sachs Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Thursday. Finally, Wedbush upped their price target on shares of Columbia Sportswear from $111.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.55.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It 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 for Bed Bath & Beyond (NASDAQ:BBBY)

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