Bed Bath & Beyond (BBBY) closed at $3.95 in the latest trading session, marking a +1.8% move from the prior day. This move outpaced the S&P 500’s daily gain of 0.92%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 1.01%.
Coming into today, shares of the home goods retailer had lost 24.66% in the past month. In that same time, the Retail-Wholesale sector gained 2.03%, while the S&P 500 gained 9.6%.
Wall Street will be looking for positivity from Bed Bath & Beyond as it approaches its next earnings report date. In that report, analysts expect Bed Bath & Beyond to post earnings of -$1.83 per share. This would mark a year-over-year decline of 632%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.43 billion, down 23.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$8.90 per share and revenue of $6.01 billion, which would represent changes of -808.16% and -23.59%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bed Bath & Beyond. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.83% lower. Bed Bath & Beyond is holding a Zacks Rank of #3 (Hold) right now.
The Retail – Miscellaneous industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 129, putting it in the bottom 49% 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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