Bed Bath & Beyond (NASDAQ:BBBY) issued its quarterly earnings results on Wednesday. The retailer reported ($1.96) earnings per share for the quarter, missing the consensus estimate of ($1.42) by ($0.54), RTT News reports. Bed Bath & Beyond had a negative net margin of 5.50% and a positive return on equity of 3.03%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the firm earned $0.12 EPS. Bed Bath & Beyond’s revenue for the quarter was down 49.2% compared to the same quarter last year.
Shares of BBBY traded up $0.17 during trading hours on Wednesday, reaching $10.41. 19,352,486 shares of the company traded hands, compared to its average volume of 12,408,143. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -2.14 and a beta of 2.47. Bed Bath & Beyond has a 12-month low of $3.43 and a 12-month high of $17.79. The company has a current ratio of 1.55, a quick ratio of 0.70 and a debt-to-equity ratio of 1.87. The stock’s fifty day moving average price is $8.75 and its 200 day moving average price is $9.95.
Several equities research analysts have recently issued reports on BBBY shares. Raymond James lifted their price objective on shares of Bed Bath & Beyond from $9.00 to $13.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Co lifted their price objective on shares of Bed Bath & Beyond from $4.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, June 10th. ValuEngine upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research report on Wednesday, April 15th. Telsey Advisory Group reduced their price target on shares of Bed Bath & Beyond from $7.00 to $4.00 and set a “market perform” rating on the stock in a research report on Friday, April 3rd. Finally, Odeon Capital Group upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $10.75.
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 various juvenile products.
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