Bed Bath & Beyond (NASDAQ:BBBY) Issues Q3 2021 Earnings Guidance

Bed Bath & Beyond (NASDAQ:BBBY) issued an update on its third quarter 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $0.000-$0.050 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.280. The company issued revenue guidance of $1.96 billion-$2 billion, compared to the consensus revenue estimate of $2.02 billion.Bed Bath & Beyond also updated its FY 2021 guidance to $0.700-$1.100 EPS.

Shares of BBBY traded down $0.08 during trading hours on Thursday, hitting $14.36. 82,247 shares of the company were exchanged, compared to its average volume of 8,127,422. The company has a market capitalization of $1.45 billion, a PE ratio of 19.51 and a beta of 1.82. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.56 and a quick ratio of 0.80. The firm has a fifty day simple moving average of $23.90 and a 200-day simple moving average of $26.71. Bed Bath & Beyond has a one year low of $14.10 and a one year high of $53.90.

Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Thursday, September 30th. The retailer reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.48). Bed Bath & Beyond had a net margin of 1.02% and a return on equity of 9.10%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company earned $0.50 EPS. Bed Bath & Beyond’s revenue for the quarter was down 26.2% on a year-over-year basis. Sell-side analysts expect that Bed Bath & Beyond will post 1.54 EPS for the current year.

Several analysts recently issued reports on the company. Credit Suisse Group cut their target price on Bed Bath & Beyond from $30.00 to $23.00 and set a neutral rating on the stock in a report on Friday, October 1st. Bank of America started coverage on Bed Bath & Beyond in a report on Tuesday, October 5th. They set an underperform rating and a $14.00 target price on the stock. Morgan Stanley downgraded Bed Bath & Beyond from an equal weight rating to an underweight rating and lowered their price target for the company from $18.00 to $12.00 in a research report on Thursday. Zacks Investment Research downgraded Bed Bath & Beyond from a hold rating to a strong sell rating and set a $13.00 price target on the stock. in a research report on Tuesday, October 5th. Finally, Loop Capital lowered their price target on Bed Bath & Beyond from $18.00 to $14.00 and set a hold rating on the stock in a research report on Monday. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $21.31.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond, Inc engages in the operation of retail stores and retails domestics merchandise and home furnishings. Its products include domestic merchandise and home furnishings such as bed linens and related items, bath items, kitchen textiles kitchen and tabletop items, fine tabletop, basic house wares, general home furnishings, and consumables.

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

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