Bed Bath & Beyond plunges after withdrawing its forecast

PreMarket Prep Recap Tesla Shrugs Off Double Downgrade Bed Bath & Beyond Continues Fall

BBBY's shares are at 67.42% for the quarter and driving a 41.34% return over the course of the past year and is now at -3.76% since this point in 2018. The same period of previous year reportedly had $0.18 in EPS and $3.03 billion in revenue. The Thanksgiving holiday calendar shift in 2019 resulted in one less week of holiday sales compared to the year-past third quarter, the company maintained. For the next year, analysts anticipate that the firm will post earnings of ($0.05) per share, with EPS estimates ranging from ($0.18) to $0.11. Zacks Investment Research's sales averages are an average based on a survey of analysts that follow Bed Bath & Beyond.

The home goods chain made the announcement while reporting earnings for its third quarter. Five analysts have issued estimates for Cardlytics' earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.10). The company's revenue was down 7.3% on a year-over-year basis.

A number of equities research analysts have weighed in on the stock. Raymond James upgraded Bed Bath & Beyond to a "buy" rating in a report on Thursday, October 10th. Zacks Investment Research raised Bed Bath & Beyond from a "hold" rating to a "buy" rating and set a $18.00 target price for the company in a research note on Wednesday, December 18th.

In other Cardlytics news, CFO David Thomas Evans sold 22,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. Total options volume is running at six times the expected intraday rate, and pacing in the 99th percentile of its annual range. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 1.36 and a beta of 1.36.

NASDAQ:BBBY opened at $16.33 on Friday. This "demonstrates that Bed Bath & Beyond is still a well-loved, well-known brand with tremendous opportunity to grow share within a US$51 billion USA market for the home-related categories". The company has a debt-to-equity ratio of 1.73, a current ratio of 1.46 and a quick ratio of 0.52. The stock's fifty day moving average price is $56.03 and its 200-day moving average price is $38.14. The losses per share of 38 cents proved to be a major blow for investors as well. The stock was observed in the 5 days activity at -3.76%. Man Group plc grew its position in shares of Bed Bath & Beyond by 250.5% during the 2nd quarter. To date, the retailer has about 1,500 stores.

Shares of Bed Bath & Beyond stock traded down $0.15 during midday trading on Monday, hitting $15.18.

"By choosing to lease the real estate they sold, Bed Bath & Beyond has done the right thing for shareholders by unlocking capital that can be more efficiently put to work in much needed-growth initiatives, or if those don't exist, give it back to shareholders", he said. Prudential Financial Inc. now owns 1,602,183 shares of the retailer's stock worth $18,617,000 after buying an additional 825,756 shares during the period.

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