Bed Bath & Beyond Inc. (NASDAQ:BBBY) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Investors of record on Friday, September 13th will be given a dividend of 0.17 per share by the retailer on Tuesday, October 15th. This represents a $0.68 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend is Thursday, September 12th.
Bed Bath & Beyond has a dividend payout ratio of 33.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bed Bath & Beyond to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 33.2%.
BBBY opened at $10.71 on Wednesday. The business’s 50-day moving average price is $9.00 and its two-hundred day moving average price is $13.06. Bed Bath & Beyond has a 1 year low of $7.31 and a 1 year high of $19.59. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 5.22, a P/E/G ratio of 5.54 and a beta of 1.21. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.52 and a quick ratio of 0.48.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, July 10th. The retailer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Bed Bath & Beyond had a positive return on equity of 9.49% and a negative net margin of 4.66%. Bed Bath & Beyond’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Sell-side analysts anticipate that Bed Bath & Beyond will post 1.89 earnings per share for the current fiscal year.
BBBY has been the topic of several research reports. Morgan Stanley cut their target price on Bed Bath & Beyond from $20.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Loop Capital reaffirmed an “average” rating and set a $12.00 price target on shares of Bed Bath & Beyond in a research note on Tuesday, July 9th. Citigroup decreased their price target on shares of Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Goldman Sachs Group started coverage on shares of Bed Bath & Beyond in a report on Thursday, July 11th. They issued a “sell” rating and a $11.00 price objective on the stock. Finally, Bank of America set a $25.00 price objective on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. Bed Bath & Beyond presently has a consensus rating of “Hold” and a consensus price target of $15.55.
About Bed Bath & Beyond
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
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