What's Happening with BBBY
Bed Bath & Beyond (BBBY) will report its fiscal third-quarter numbers January 8. The company will release its quarterly numbers after the market close with the consensus calling for earnings of $0.03 per share, down from $0.18 during the same period last year. The stock is up 43% over the last twelve months.
Technical Analysis
BBBY was recently trading at $16.2 down $3.37 from its 12-month high and $8.89 above its 12-month low. InvestorsObserver's Stock Score Report gives BBBY a 60 long-term technical score and a 35 short-term technical score. The stock has recent support above $14 and recent resistance below $18. Of the 15 analysts who cover the stock 5 rate it Strong Buy, 0 rate it Buy, 9 rate it Hold, 0 rate it Sell, and 1 rate it Strong Sell, BBBY gets a score of 52 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
BBBY stock has moved strongly higher since mid-summer after hitting a 52-week low of $7.31. The company has posted better than expected quarterly earnings the last four quarters, but sales have been weaker than expected the last five quarters. The company has struggled to compete online, and earnings have fallen as a result. Profits are down 28% annually over the last five years. Analysts expect better results moving forward, but still forecast profits will fall 4% per annum over the next five years. The stock has an attractive valuation with a forward P/E of just 8.4, but with profits falling it will be hard for the stock to keep Wall Street bullish unless results continue to top estimates. The market expects another earnings beat this quarter with a whisper number of $0.04. Analysts have an average price target of $14.54 on the stock.