$2.75 Billion in Sales Expected for Bed Bath & Beyond (BBBY) This Quarter

Analysts forecast that Bed Bath & Beyond (NASDAQ:BBBY) will announce sales of $2.75 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Bed Bath & Beyond’s earnings, with the lowest sales estimate coming in at $2.72 billion and the highest estimate coming in at $2.77 billion. Bed Bath & Beyond reported sales of $2.74 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 0.4%. The business is expected to announce its next quarterly earnings report on Thursday, June 28th.

According to Zacks, analysts expect that Bed Bath & Beyond will report full year sales of $12.13 billion for the current fiscal year, with estimates ranging from $12.00 billion to $12.33 billion. For the next year, analysts anticipate that the firm will post sales of $12.13 billion per share, with estimates ranging from $11.63 billion to $12.40 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, April 11th. The retailer reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.68 billion. Bed Bath & Beyond had a return on equity of 16.45% and a net margin of 3.44%. Bed Bath & Beyond’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 earnings per share.

BBBY has been the topic of a number of recent analyst reports. BidaskClub raised Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Barclays cut their target price on Bed Bath & Beyond from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 21st. Morgan Stanley set a $22.00 target price on Bed Bath & Beyond and gave the stock a “sell” rating in a research report on Thursday, December 21st. Wedbush set a $23.00 target price on Bed Bath & Beyond and gave the stock a “hold” rating in a research report on Thursday, December 21st. Finally, Credit Suisse Group set a $25.00 target price on Bed Bath & Beyond and gave the stock a “hold” rating in a research report on Thursday, December 21st. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.00.

A number of large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its stake in Bed Bath & Beyond by 364.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,710,466 shares of the retailer’s stock valued at $103,583,000 after purchasing an additional 3,696,289 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Bed Bath & Beyond by 64.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,424,108 shares of the retailer’s stock valued at $80,364,000 after purchasing an additional 1,336,053 shares in the last quarter. Schroder Investment Management Group grew its stake in Bed Bath & Beyond by 48.3% in the fourth quarter. Schroder Investment Management Group now owns 1,992,815 shares of the retailer’s stock valued at $43,822,000 after purchasing an additional 649,180 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Bed Bath & Beyond by 199.6% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,307,910 shares of the retailer’s stock valued at $28,761,000 after purchasing an additional 871,390 shares in the last quarter. Finally, Towle & Co. purchased a new position in Bed Bath & Beyond in the fourth quarter valued at about $22,398,000. 91.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bed Bath & Beyond stock opened at $17.49 on Tuesday. The firm has a market cap of $2,427.81, a PE ratio of 5.61, a P/E/G ratio of -3.76 and a beta of 1.00. The company has a current ratio of 1.83, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Bed Bath & Beyond has a 12-month low of $17.19 and a 12-month high of $40.33.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Friday, June 15th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.66%. This is a positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, June 14th. Bed Bath & Beyond’s payout ratio is presently 19.23%.

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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 juvenile products.

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

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