In the latest trading session, Bed Bath & Beyond (BBBY) closed at $3.60, marking a +1.69% move from the previous day. This change outpaced the S&P 500’s 0.12% loss on the day. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, added 0.05%.
Heading into today, shares of the home goods retailer had lost 11.94% over the past month, lagging the Retail-Wholesale sector’s gain of 7.5% and the S&P 500’s gain of 5.93% in that time.
Wall Street will be looking for positivity from Bed Bath & Beyond as it approaches its next earnings report date. On that day, Bed Bath & Beyond is projected to report earnings of -$1.83 per share, which would represent a year-over-year decline of 632%. Meanwhile, our latest consensus estimate is calling for revenue of $1.43 billion, down 23.71% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$8.90 per share and revenue of $6.01 billion. These totals would mark changes of -808.16% and -23.59%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bed Bath & Beyond. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Bed Bath & Beyond is currently a Zacks Rank #4 (Sell).
The Retail – Miscellaneous industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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