Bed Bath & Beyond Inc. (BBBY) to Post Q1 2018 Earnings of $0.83 Per Share, Wedbush Forecasts
Bed Bath & Beyond Inc. (NASDAQ:BBBY) – Equities research analysts at Wedbush raised their Q1 2018 earnings per share estimates for Bed Bath & Beyond in a report issued on Thursday. Wedbush analyst S. Basham now expects that the firm will post earnings per share of $0.83 for the quarter, up from their previous estimate of $0.82. Wedbush currently has a “Neutral” rating and a $42.00 target price on the stock. Wedbush also issued estimates for Bed Bath & Beyond’s Q4 2018 earnings at $1.99 EPS.
Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Wednesday, September 21st. The retailer reported $1.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by $0.05. Bed Bath & Beyond had a net margin of 6.38% and a return on equity of 29.79%. The company earned $2.99 billion during the quarter. During the same period in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year.
BBBY has been the topic of several other reports. Vetr raised shares of Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 25th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. BTIG Research initiated coverage on shares of Bed Bath & Beyond in a research report on Wednesday, June 1st. They set a “neutral” rating on the stock. Credit Suisse Group AG initiated coverage on shares of Bed Bath & Beyond in a research report on Monday, July 18th. They set a “neutral” rating and a $41.00 price target on the stock. Finally, Barclays PLC reissued an “equal weight” rating and set a $45.00 price target on shares of Bed Bath & Beyond in a research report on Friday, September 23rd. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Bed Bath & Beyond has an average rating of “Hold” and a consensus price target of $48.65.
Bed Bath & Beyond (NASDAQ:BBBY) traded up 0.2431% during midday trading on Monday, hitting $42.2625. 1,429,956 shares of the company traded hands. Bed Bath & Beyond has a 12-month low of $41.15 and a 12-month high of $61.49. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 8.5708 and a beta of 0.72. The stock’s 50-day moving average price is $44.75 and its 200 day moving average price is $45.40.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 16th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.19%. Bed Bath & Beyond’s payout ratio is currently 10.18%.
In other news, COO Eugene A. Castagna sold 17,866 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $45.86, for a total transaction of $819,334.76. Following the completion of the sale, the chief operating officer now directly owns 140,630 shares in the company, valued at $6,449,291.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Bed Bath & Beyond during the fourth quarter valued at $88,509,000. Bank of Montreal Can purchased a new stake in Bed Bath & Beyond during the second quarter valued at $57,209,000. Kovitz Investment Group Partners LLC purchased a new stake in Bed Bath & Beyond during the first quarter valued at $43,119,000. FMR LLC boosted its stake in Bed Bath & Beyond by 7.6% in the second quarter. FMR LLC now owns 12,156,947 shares of the retailer’s stock valued at $525,423,000 after buying an additional 860,235 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Bed Bath & Beyond by 10.3% in the second quarter. JPMorgan Chase & Co. now owns 6,749,160 shares of the retailer’s stock valued at $291,699,000 after buying an additional 630,285 shares during the period. Institutional investors own 95.16% of the company’s stock.
About Bed Bath & Beyond
Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).
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