Bed Bath & Beyond (NASDAQ:BBBY) Updates FY 2019 Earnings Guidance

Bed Bath & Beyond (NASDAQ:BBBY) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.11-2.11 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.98. The company issued revenue guidance of $11.4-11.4 billion, compared to the consensus revenue estimate of $11.48 billion.

BBBY opened at $10.89 on Friday. The firm’s 50 day simple moving average is $12.11. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 5.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.52 and a quick ratio of 0.62. Bed Bath & Beyond has a one year low of $10.43 and a one year high of $20.38.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings results on Wednesday, July 10th. The retailer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.58 billion. Bed Bath & Beyond had a positive return on equity of 9.49% and a negative net margin of 4.66%. Bed Bath & Beyond’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. On average, analysts anticipate that Bed Bath & Beyond will post 1.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date is Thursday, September 12th. Bed Bath & Beyond’s payout ratio is 33.17%.

A number of research analysts have commented on BBBY shares. Wolfe Research raised TD Ameritrade from an underperform rating to a market perform rating in a research report on Wednesday, March 27th. Citigroup upped their price target on Silgan from $34.00 to $36.00 and gave the company a buy rating in a research report on Thursday. BidaskClub lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, June 26th. Jefferies Financial Group upped their price target on Wynn Resorts from $160.00 to $165.00 and gave the company a buy rating in a research report on Thursday. Finally, Deutsche Bank increased their target price on Bed Bath & Beyond from $15.00 to $19.00 and gave the stock a hold rating in a research report on Thursday, April 11th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Bed Bath & Beyond currently has an average rating of Hold and an average price target of $15.55.

Bed Bath & Beyond Company Profile

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

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