Bed Bath & Beyond Inc. [NASDAQ:BBBY] will report earnings after markets close on Thursday, January 7th.
BBBY Earnings Forecast For The Current Quarter
Bed Bath & Beyond Inc. [BBBY] is expected to report strong earnings results for the quarter ending on Nov 2020. Consensus estimates give the company expected revenues of $2.75B and an earnings per share of $0.19 for Nov 2020. Looking further ahead, the company is expected to report revenue of $2.92B at an EPS of $0.63 for Feb 2021. The estimates represent downside of -3.70% and 249.30% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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BBBY Earnings Estimates For The Current Year
For the financial year, Bed Bath & Beyond Inc. [NASDAQ:BBBY] is expected to bring in revenue of $9.61B. The returns are nearly $-1.55 billion lower than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at -0.73, lower than that of FY20 by -$1.19. Estimates put this year’s earnings growth at -258.70%, 238.40% for the next, and at an annual 79.60% over the next 5-year period. As for sales, forecasts are for a decrease of -13.90% in the current fiscal year and a further -3.70% over the following year.
BBBY Price Performance
On Wall Street, Bed Bath & Beyond Inc. [NASDAQ:BBBY] finished Tuesday’s session up 9.60% at $19.76. The stock went up to $19.89 at the same session while its lowest single day price was $17.93. In the last five days, it saw a rise of about 5.27%, Bed Bath & Beyond Inc. shares gained by almost 11.26% since the beginning of the year. However, the share price has dropped to as low as -24.46% below its one year high. On 01/05/21, the company shares recorded $19.89, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $17.70. The company’s shares have inclined by 19.32% in the past year. The 50-day SMA achieved is $20.10 while the 200-day SMA is $12.86. Volume dropped to 13.48 million from 13.98 million in the previous session.
BBBY Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 18.50 level, and in case of violation of this particular level, it will cause more drop to 17.23 level. On the upper level, 21.15 is still the key resistance. The stock may increase to the subsequent resistance at 20.46. The Relative Strength Index (RSI) pinned on the 14-day chart is 54.00, implying a neutral technical stance while the MACD stands at -0.44, meaning price will decrease in the next trading period. Percent R indicator moved to 24.03%, implying bullish price movement. Stochastic %K at 32.04% suggest holding the stock.
Is Bed Bath & Beyond Inc. [NASDAQ:BBBY] a Good Buy Right Now?
It should be noted that BBBY technical indicators for short, intermediate as well as long term progress have placed an overall average of 56% as Buy. The average signal changed from 40% Buy in the last week and compares with 40% Buy in the past month. Data from Bed Bath & Beyond Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 7.78 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 7.65 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 9.08 million shares.
What is the short interest in Bed Bath & Beyond Inc.?
Short interest in the Bed Bath & Beyond Inc. stock has plunged, decreasing by -6.64 million shares to total 72.77 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 66.13 million, data from Yahoo Finance shows. The increase of 9.12% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 76.07% of the overall float for the stock.
Bed Bath & Beyond Inc.’s Biggest Shareholders: Who Owns Bed Bath & Beyond Inc. [BBBY]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 18,738,359 shares or roughly 14.87% of the outstanding BBBY shares. This means their shares have increased by 3,368,122 from the 18,738,359 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, BlackRock Fund Advisors updated stake is worth $370,814,280. Details in the latest 13F filings reveal that The Vanguard Group, Inc. disposed off their -3.36% stake valued at $255,212,838 while Contrarius Investment Management cut theirs at $165,043,295. During the last quarter, The Vanguard Group, Inc. liquidated -422,769 of its shares in Bed Bath & Beyond Inc. while Contrarius Investment Management sold -2,338,362 shares. The D. E. Shaw & Co. LP’s holdings currently number 6,107,157 shares at $120677422.32. According to the firm’s last 13F report, Legion Partners Asset Management shares in the company at filing stood at 5,382,512 shares, roughly $112,817,452.
What are analyst thoughts on Bed Bath & Beyond Inc.?
Looking forward to the Bed Bath & Beyond Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Bed Bath & Beyond Inc. stock at $22.00 within the next 12 months, which represents almost 10.18 per cent growth from its previous closing price of $19.76. The highest analysts’ target for Bed Bath & Beyond Inc. stock projections is $31.00 and the lowest one is $13.00. Still, 20 analysts sharing their consensus rating for BBBY stock in 2021 agree that it is a Hold.