Nomura Securities Maintains a 'Buy' on Bed Bath and Beyond (BBBY); Q4 Preview
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Price: $4.35 -2.03%
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Bed Bath and Beyond (NASDAQ: BBBY).
Nomura analyst, Aram Rubinson, said, "Preview ahead of Q4 results on 4/6; due to unprecedented input cost increases, gross margins are top of mind for retail investors. We expect that the supplier community, consumers and BBBY will all shoulder some of the burden. Our 2011 EPS estimate is 5% ahead of consensus. We expect BBBY to guide conservatively in keeping with past practices. However, our assumptions of down gross margins (decline of 20bps) and SG&A per foot growth of +0.7% are reasonable, in our view. We believe the current valuation of 12.2x (ex cash) more than reflects sourcing concerns."
For more ratings news on Bed Bath and Beyond click here and for the rating history of Bed Bath and Beyond click here.
Shares of Bed Bath and Beyond closed at $48.49 yesterday.
Nomura analyst, Aram Rubinson, said, "Preview ahead of Q4 results on 4/6; due to unprecedented input cost increases, gross margins are top of mind for retail investors. We expect that the supplier community, consumers and BBBY will all shoulder some of the burden. Our 2011 EPS estimate is 5% ahead of consensus. We expect BBBY to guide conservatively in keeping with past practices. However, our assumptions of down gross margins (decline of 20bps) and SG&A per foot growth of +0.7% are reasonable, in our view. We believe the current valuation of 12.2x (ex cash) more than reflects sourcing concerns."
For more ratings news on Bed Bath and Beyond click here and for the rating history of Bed Bath and Beyond click here.
Shares of Bed Bath and Beyond closed at $48.49 yesterday.
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