Bed Bath & Beyond Inc. (NASDAQ:BBBY) Expected to Announce Quarterly Sales of $1.86 Billion

Analysts forecast that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will post sales of $1.86 billion for the current quarter, according to Zacks. Six analysts have made estimates for Bed Bath & Beyond’s earnings, with the highest sales estimate coming in at $1.90 billion and the lowest estimate coming in at $1.84 billion. Bed Bath & Beyond reported sales of $1.31 billion in the same quarter last year, which would suggest a positive year over year growth rate of 42%. The business is expected to announce its next quarterly earnings report on Wednesday, July 14th.

On average, analysts expect that Bed Bath & Beyond will report full-year sales of $8.14 billion for the current financial year, with estimates ranging from $8.05 billion to $8.20 billion. For the next financial year, analysts expect that the business will report sales of $8.13 billion, with estimates ranging from $7.89 billion to $8.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings results on Wednesday, April 14th. The retailer reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.09. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Bed Bath & Beyond had a negative return on equity of 8.44% and a negative net margin of 1.63%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share.

Several equities research analysts recently commented on BBBY shares. Zacks Investment Research raised Bed Bath & Beyond from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a report on Thursday, February 11th. Loop Capital decreased their price target on shares of Bed Bath & Beyond from $30.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, April 16th. Telsey Advisory Group decreased their price target on shares of Bed Bath & Beyond from $40.00 to $30.00 and set a “market perform” rating on the stock in a research report on Thursday, April 15th. Bank of America upgraded shares of Bed Bath & Beyond from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Thursday, February 11th. Finally, KeyCorp lowered their price objective on shares of Bed Bath & Beyond from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Thursday, April 15th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Bed Bath & Beyond presently has an average rating of “Hold” and a consensus target price of $26.00.

Shares of BBBY traded down $2.75 during mid-day trading on Friday, reaching $31.54. 223,777 shares of the company’s stock traded hands, compared to its average volume of 10,786,169. The firm’s 50-day simple moving average is $27.23. The company has a market cap of $3.36 billion, a PE ratio of -26.62 and a beta of 1.83. The company has a quick ratio of 0.85, a current ratio of 1.58 and a debt-to-equity ratio of 0.93. Bed Bath & Beyond has a 12 month low of $7.30 and a 12 month high of $53.90.

In related news, Director Joshua Schechter acquired 3,000 shares of the business’s stock in a transaction dated Friday, April 16th. The stock was acquired at an average price of $25.02 per share, with a total value of $75,060.00. Following the completion of the transaction, the director now owns 24,016 shares of the company’s stock, valued at $600,880.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gustavo Arnal bought 20,000 shares of the stock in a transaction that occurred on Friday, April 16th. The stock was acquired at an average cost of $25.45 per share, for a total transaction of $509,000.00. Following the purchase, the chief financial officer now owns 300,769 shares of the company’s stock, valued at $7,654,571.05. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 23,500 shares of company stock valued at $596,835. Company insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hanseatic Management Services Inc. increased its stake in Bed Bath & Beyond by 2.9% in the first quarter. Hanseatic Management Services Inc. now owns 14,833 shares of the retailer’s stock valued at $432,000 after acquiring an additional 419 shares during the period. Koshinski Asset Management Inc. bought a new stake in Bed Bath & Beyond in the fourth quarter valued at about $284,000. Teachers Retirement System of The State of Kentucky increased its stake in Bed Bath & Beyond by 2.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 36,820 shares of the retailer’s stock valued at $1,073,000 after acquiring an additional 900 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Bed Bath & Beyond by 1.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 51,904 shares of the retailer’s stock valued at $1,513,000 after acquiring an additional 972 shares during the period. Finally, Logan Capital Management Inc. bought a new stake in Bed Bath & Beyond in the first quarter valued at about $29,000. 95.57% of the stock is currently owned by institutional investors and hedge funds.

Bed Bath & Beyond Company Profile

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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