The Union, NJ-based retailer reported second quarter earnings of $1.21 per share on revenue that increased by 1.7% year over year to $2.99 billion.
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For the 13-week period, Bed Bath & Beyond’s comparative store sales increased 0.7%, well under gains of 3.4% in the same quarter past year.
Bed Bath & Beyond Inc (NASDAQ:BBBY) traded up 3.49% on 25 September, hitting $61.4.
“Our Board authorized this new share repurchase program based upon its continued confidence in our Company’s long-term growth potential, financial outlook and cash flow generation”, Bed Bath & Beyond CEO Steven Temares said in a statement. Cantor Fitzgerald reiterated a buy rating and issued a $80.00 target price on shares of Bed Bath & Beyond in a research report on Thursday, June 25th.
For investors wanting to tap into a stock leverage upswings in both retail spending and the housing market can find BBBY stock, with its competitive valuation, an opportune buy.
Bed Bath & Beyond (NASDAQ:BBBY) was increased by Telsey Advisory Group from Underperform rating to Market Perform rating in analysts report made public on Friday morning.
Considering all factors, the company anticipates third-quarter earnings per share in the range of $1.14-$1.21. In the last 50 and 100 days, Bed Bath & Beyond is down 14.05% and down 17.61%, respectively. Longbow Research assumed coverage on shares of Bed Bath & Beyond in a report on Tuesday, July 14th. The company presently has a consensus rating of “Hold” and an average price target of $78.24.
NASDAQ:BBBY is at the moment trading 3.49% higher at $61.40 as of 11:33 New York time.
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Store expansion. Bed Bath & Beyond has entered a phase where it is focused on improving existing operations through remodeling, remerchandising and digital integration efforts. In the regular session, Bed Bath & Beyond shares dropped below $59 to fall to a 52-week low. The company has a market cap of $10.01 billion and a P/E ratio of 11.73. The higher price target estimate is at $88 and the lower price target estimate is expected at $55 according to 12 Analyst. (Jointly, CTS), Harmon or Harmon Face Worth (together, Harmon), buybuy BABY (Baby) and World Marketplace, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market). The Business operates in two segments: North American Retail and Institutional Sales. The Company’s customers can buy products in the Company either in store, online or through a mobile device. The Company also manages Linen Holdings, a provider of a variety of fabric products, comforts and other goods to institutional customers in the hospitality, cruise line, healthcare along with other industries. Greater growth could come from Mexico where the company’s joint venture now operates six store and recently opened its first location outside of Mexico City. The Company sells a range of domestics merchandise and home furnishings.
