Bed Bath & Beyond Inc. (BBBY) Expected to Post Quarterly Sales of $3.01 Billion

Equities analysts predict that Bed Bath & Beyond Inc. (NASDAQ:BBBY) will report sales of $3.01 billion for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Bed Bath & Beyond’s earnings. The lowest sales estimate is $2.98 billion and the highest is $3.03 billion. Bed Bath & Beyond reported sales of $2.99 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.7%. The company is scheduled to report its next earnings report after the market closes on Tuesday, September 19th.

According to Zacks, analysts expect that Bed Bath & Beyond will report full year sales of $3.01 billion for the current fiscal year, with estimates ranging from $12.46 billion to $12.55 billion. For the next fiscal year, analysts forecast that the company will report sales of $12.36 billion per share, with estimates ranging from $12.24 billion to $12.46 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Bed Bath & Beyond.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Thursday, June 22nd. The retailer reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Bed Bath & Beyond had a return on equity of 24.38% and a net margin of 5.22%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.80 earnings per share.

A number of brokerages recently issued reports on BBBY. Wedbush set a $30.00 price target on Bed Bath & Beyond and gave the company a “hold” rating in a report on Saturday, June 24th. Bank of America Corporation set a $27.00 price target on Bed Bath & Beyond and gave the company a “sell” rating in a report on Saturday, June 24th. Morgan Stanley set a $30.00 price target on Bed Bath & Beyond and gave the company a “sell” rating in a report on Saturday, June 24th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Bed Bath & Beyond in a report on Saturday, June 24th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $33.00 price target (down from $37.00) on shares of Bed Bath & Beyond in a report on Monday, June 26th. Nine equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.00.

A number of large investors have recently modified their holdings of BBBY. Nicholas Hoffman & Company LLC. boosted its stake in shares of Bed Bath & Beyond by 0.4% in the first quarter. Nicholas Hoffman & Company LLC. now owns 7,930 shares of the retailer’s stock worth $313,000 after buying an additional 28 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Bed Bath & Beyond by 0.3% in the first quarter. Amalgamated Bank now owns 10,575 shares of the retailer’s stock worth $417,000 after buying an additional 32 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Bed Bath & Beyond by 1.7% in the first quarter. Nordea Investment Management AB now owns 7,704 shares of the retailer’s stock worth $304,000 after buying an additional 129 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Bed Bath & Beyond by 1.5% in the first quarter. Blair William & Co. IL now owns 14,012 shares of the retailer’s stock worth $566,000 after buying an additional 213 shares in the last quarter. Finally, ARGI Investment Services LLC boosted its stake in shares of Bed Bath & Beyond by 1.1% in the first quarter. ARGI Investment Services LLC now owns 27,289 shares of the retailer’s stock worth $1,076,000 after buying an additional 284 shares in the last quarter. Institutional investors own 93.32% of the company’s stock.

Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded up 0.18% on Tuesday, reaching $28.05. 895,649 shares of the company’s stock traded hands. The company has a market cap of $3.95 billion, a PE ratio of 6.45 and a beta of 1.13. The stock has a 50-day moving average price of $28.91 and a 200-day moving average price of $35.18. Bed Bath & Beyond has a 12-month low of $26.96 and a 12-month high of $48.83.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 14th. Bed Bath & Beyond’s dividend payout ratio is currently 13.86%.

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Bed Bath & Beyond Company Profile

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

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