Bed Bath & Beyond Inc. (BBBY) Receives Consensus Rating of “Hold” from Analysts
Bed Bath & Beyond Inc. (NASDAQ:BBBY) has been given an average recommendation of “Hold” by the twenty-one brokerages that are presently covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $19.23.
BBBY has been the topic of a number of recent analyst reports. BidaskClub cut shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Saturday, August 4th. Standpoint Research cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Wells Fargo & Co reiterated a “sell” rating and set a $16.00 price target on shares of Bed Bath & Beyond in a research note on Wednesday, June 27th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 12th. Finally, Credit Suisse Group set a $20.00 price target on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Friday, June 29th.
In other Bed Bath & Beyond news, insider Eugene A. Castagna sold 25,000 shares of the business’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $20.81, for a total transaction of $520,250.00. Following the sale, the insider now directly owns 124,255 shares in the company, valued at $2,585,746.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by corporate insiders.
NASDAQ BBBY opened at $18.96 on Friday. Bed Bath & Beyond has a 12 month low of $16.52 and a 12 month high of $29.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 1.86. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 6.08 and a beta of 0.96.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its earnings results on Wednesday, June 27th. The retailer reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Bed Bath & Beyond had a net margin of 3.18% and a return on equity of 14.73%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. Bed Bath & Beyond’s revenue for the quarter was up .4% compared to the same quarter last year. analysts predict that Bed Bath & Beyond will post 2.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.64 dividend on an annualized basis and a yield of 3.38%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 20.51%.
About Bed Bath & Beyond
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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