Bed Bath & Beyond Inc. (BBBY)
BBBY Price and Sentiment
BBBY Latest news
Bed Bath & Beyond is an omnichannel retailer offering domestic merchandise. The company is present in 50 states, the District of Columbia, Puerto Rico, and Canada. I am quite optimistic about the new direction of the company, which was characterized by digital-first in the annual report. I would be expecting sales growth and FCF growth.
Bed Bath & Beyond released its Q2 report, wherein revenues came in 4% below our estimates, and earnings per share came in negative as compared to our expectations of 52 cents. The company's revenues declined a large 26% year-over-year (y-o-y) to $2 billion, missing the company's guidance range of.
Hardline retailers are likely to face tougher comparisons following the COVID-19 spending spree, positioning them for a hard landing, according to an analyst at Morgan Stanley. The Retail Analyst: Simeon Gutman downgraded shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) from Equal-weight to Underweight and lowered the price target from $18 to $12.
The Ratings Game: Morgan Stanley grows bearish on home furnishing retailers during COVID-19 recovery, downgrades Bed Bath & Beyond & Wayfair2021-10-14 11:43
Morgan Stanley downgraded both Bed Bath & Beyond Inc. and Wayfair Inc. to underweight from equal-weight, following an examination of personal consumption expenditures [PCE] and how consumer spending will shift as the COVID-19 recovery continues.
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Bed Bath and Beyond Inc. ( BBBY , Financial) is a home goods big-box retailer that was caught up in the “Reddit frenzy” earlier this year with massive price swings in a handful of stocks, driven by newbie retail investors influenced by posts on Reddit's WallStreetBets and powered by the "free" trading app Robinhood (of which Gamestop ( GME , Financial) and AMC ( AMC , Financial) were the most well known).
The Wall Street consensus at $120 per share suggests significant upside.
Management is having a hard time predicting sales, and analysts are lowering their expectations.
Bed Bath & Beyond is improving the bottom line, generating cash flow and returning capital to shareholders. So, let's dive in on BBBY stock.