Bed Bath & Beyond (NYSE:BBBY) Announces Earnings Results, Beats Estimates By $0.07 EPS

Bed Bath & Beyond (NYSE:BBBY) released its earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.07, Zacks reports. Bed Bath & Beyond had a negative net margin of 13.50% and a negative return on equity of 57.26%. The business had revenue of $273.43 million for the quarter.

Bed Bath & Beyond Stock Performance

BBBY traded down $0.18 during midday trading on Monday, reaching $5.05. 1,847,953 shares of the company were exchanged, compared to its average volume of 1,922,502. The company has a market cap of $347.88 million, a price-to-earnings ratio of -1.80 and a beta of 2.99. Bed Bath & Beyond has a one year low of $3.54 and a one year high of $12.65. The company’s fifty day moving average price is $6.02 and its 200 day moving average price is $7.52.

Hedge Funds Weigh In On Bed Bath & Beyond

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in shares of Bed Bath & Beyond during the second quarter valued at about $33,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bed Bath & Beyond in the 4th quarter worth approximately $37,000. New York State Common Retirement Fund bought a new position in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $47,000. ExodusPoint Capital Management LP purchased a new stake in shares of Bed Bath & Beyond during the fourth quarter valued at approximately $63,000. Finally, Engineers Gate Manager LP bought a new stake in Bed Bath & Beyond during the fourth quarter worth $63,000. 76.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wedbush cut their target price on Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Barclays set a $8.00 price objective on shares of Bed Bath & Beyond and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bed Bath & Beyond presently has a consensus rating of “Hold” and an average target price of $9.00.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.