Beyond (NYSE:BYON) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Beyond (NYSE:BYON) announced its quarterly earnings data on Monday. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13, Briefing.com reports. The company had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $381.74 million. Beyond had a negative return on equity of 44.66% and a negative net margin of 22.03%. Beyond’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) EPS.

Beyond Stock Down 5.4 %

Shares of NYSE:BYON traded down $0.66 on Wednesday, hitting $11.60. 3,025,323 shares of the company traded hands, compared to its average volume of 1,785,235. The company has a market cap of $530.70 million, a PE ratio of -1.42 and a beta of 3.70. The stock has a 50 day simple moving average of $13.93 and a 200-day simple moving average of $22.08. Beyond has a 52 week low of $11.06 and a 52 week high of $39.27. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.12.

Insider Activity at Beyond

In other news, Chairman Marcus Lemonis bought 3,700 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $13.64 per share, with a total value of $50,468.00. Following the completion of the acquisition, the chairman now owns 197,593 shares of the company’s stock, valued at $2,695,168.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Beyond news, Chairman Marcus Lemonis bought 3,700 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $13.64 per share, with a total value of $50,468.00. Following the transaction, the chairman now owns 197,593 shares in the company, valued at $2,695,168.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $16.01 per share, for a total transaction of $198,524.00. Following the purchase, the director now directly owns 97,458 shares in the company, valued at approximately $1,560,302.58. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 40,095 shares of company stock valued at $596,237. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BYON. Maxim Group lowered their price objective on shares of Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Wedbush dropped their target price on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday. Piper Sandler decreased their price target on Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Beyond in a report on Monday, May 20th. Finally, Barclays cut their price target on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Beyond presently has an average rating of “Hold” and an average price target of $27.29.

About Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.