Bed Bath & Beyond Inc. to Post FY2024 Earnings of ($0.60) Per Share, William Blair Forecasts (NASDAQ:BBBY)

Bed Bath & Beyond Inc. (NASDAQ:BBBYGet Rating) – Research analysts at William Blair issued their FY2024 earnings estimates for Bed Bath & Beyond in a research note issued to investors on Thursday, April 21st. William Blair analyst D. Hofkin forecasts that the retailer will earn ($0.60) per share for the year.

Bed Bath & Beyond (NASDAQ:BBBYGet Rating) last released its quarterly earnings data on Wednesday, April 13th. The retailer reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.95). Bed Bath & Beyond had a negative return on equity of 14.09% and a negative net margin of 7.11%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the company earned $0.40 EPS. Bed Bath & Beyond’s revenue was down 21.7% on a year-over-year basis.

Several other brokerages also recently weighed in on BBBY. KeyCorp decreased their target price on shares of Bed Bath & Beyond from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, January 5th. Robert W. Baird decreased their target price on shares of Bed Bath & Beyond from $22.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, January 7th. Loop Capital decreased their target price on shares of Bed Bath & Beyond from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Friday, January 7th. The Goldman Sachs Group decreased their target price on shares of Bed Bath & Beyond from $14.00 to $7.00 and set a “sell” rating for the company in a research note on Thursday, April 14th. Finally, B. Riley upped their target price on shares of Bed Bath & Beyond from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, March 28th. Eight investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Sell” and a consensus price target of $13.69.

Bed Bath & Beyond stock opened at $17.46 on Friday. The firm has a market capitalization of $1.68 billion, a P/E ratio of -3.03 and a beta of 1.59. The firm has a fifty day moving average of $19.34 and a 200-day moving average of $17.64. The company has a quick ratio of 0.31, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. Bed Bath & Beyond has a 52-week low of $12.39 and a 52-week high of $44.51.

Several large investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its holdings in shares of Bed Bath & Beyond by 41.1% during the third quarter. Meeder Asset Management Inc. now owns 1,662 shares of the retailer’s stock worth $28,000 after purchasing an additional 484 shares during the period. Captrust Financial Advisors raised its holdings in shares of Bed Bath & Beyond by 7.5% during the third quarter. Captrust Financial Advisors now owns 7,965 shares of the retailer’s stock worth $138,000 after purchasing an additional 554 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bed Bath & Beyond by 2.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,706 shares of the retailer’s stock worth $331,000 after purchasing an additional 645 shares during the period. Eaton Vance Management raised its holdings in shares of Bed Bath & Beyond by 2.9% during the fourth quarter. Eaton Vance Management now owns 27,118 shares of the retailer’s stock worth $338,000 after purchasing an additional 768 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Bed Bath & Beyond by 6.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,802 shares of the retailer’s stock worth $221,000 after purchasing an additional 809 shares during the period.

About Bed Bath & Beyond (Get Rating)

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. The company 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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Earnings History and Estimates for Bed Bath & Beyond (NASDAQ:BBBY)

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