Bed Bath & Beyond Shares Fall on Guidance Cut

Separately, some of the notable components of this sector, which showed robust stock movement included: Bed Bath & Beyond Inc. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Bed Bath & Beyond in a research note on Thursday. The analysts with a bullish view on the stock project its price target at $85 while the bearish price estimate is kept at $49. Shares finished with a loss of 2.35 at $48.97, with volume at over a 7-month high.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Thursday, September 24th. The business earned $3 billion during the quarter. The consensus estimate is for EPS of $1.17. Wal-Mart Stores Inc (WMT) reported that it is considering closing regarding 30 stores and renting some of its property in Brazil next year, Brazilian newspaper Valor Econômico reported on Wednesday, as the world’s largest retailer looks to exit poor-performing markets. The retailer reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21.

Zacks Research has assigned a positive Growth Style Score to Bed Bath & Beyond Inc.

In a report released yesterday, Laura Champine from Cantor Fitzgerald maintained a Hold rating on Aaron’s Inc (NYSE: AAN), with a price target of $22.

Bed Bath is now covered by 26 Wall Street analysts.

Bed Bath & Beyond expects net sales for the third quarter to increase almost 0.3% year over year to $3 billion, sharply lower than its previous estimate of increase in the range of almost 1.8% to 4%. The stock has a market capitalization of $8.01 billion and a PE ratio of 9.45. NASDAQ:BBBY has a 50 day moving average of 56.58 United States dollars and the 200 Day Moving Average price is recorded at 65.38 USD. However, the rating of each of the analysts is scored on a simplified scale of 1-5, where 1 translates into Strong Buy, and 5 denotes Strong Sell.

The stock price is going up to its 52 week low with 19.84 % and lower from its 52 week high with -10.82 %. Wedbush reaffirmed a “hold” rating and set a $70.00 target price on shares of Bed Bath & Beyond in a research note on Tuesday, September 22nd. Institutional Investors own 98.39% of Bed Bath & Beyond Inc. shares. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Union, New Jersey based Bed Bath & Beyond, the home furnishings retailer trimmed its third-quarter profit forecast. However, physical stores still have some fight to give; they can enhance and exploit their in-store customer experience, complementing it with the online: “buy online and pick up in-store, buy online and return to store, and online appointment scheduling that encourage customers to visit stores”. The Institutional Sales operating segment consists of Linen Holdings, which provides textile products, amenities and other goods. In addition, it is a partner in a joint venture, which operates three stores in the Mexico City market under the name Bed Bath & Beyond. The 18 analysts covering BBBY had a wide range of price targets, but none rated the stock a “Sell“.