Nomura Securities Maintains a 'Neutral' on Bed Bath & Beyond (BBBY); Q3 Good, Margins Normalizing
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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 'Neutral' on Bed Bath & Beyond (NASDAQ: BBBY) price target of $63.00.
Nomura analyst, Aram Rubinson, said, "BBBY reported Q3 (Nov) EPS of $0.95 versus Nomura at $0.87 and the Street at $0.88. The tax rate drove about half of the upside ($0.04) relative to our model. Better-than-expected SG&A and a slightly lower share count accounted for the rest. SGA per foot continued its descent, falling -2.1%. That speaks to BBBY’s continued vigilance. After four consecutive years of declines, however, we think that metric is likely to turn positive in F2012 as BBBY begins to invest more aggressively in buying, distribution and ecommerce. We adjust our estimates for the 53rd week: 2012E EPS from $4.20 to $4.26, 2013E from $4.77 to $4.88."
For an analyst ratings summary and ratings history on Bed Bath & Beyond click here. For more ratings news on Bed Bath & Beyond click here.
Shares of Bed Bath & Beyond closed at $61.43 yesterday.
Nomura analyst, Aram Rubinson, said, "BBBY reported Q3 (Nov) EPS of $0.95 versus Nomura at $0.87 and the Street at $0.88. The tax rate drove about half of the upside ($0.04) relative to our model. Better-than-expected SG&A and a slightly lower share count accounted for the rest. SGA per foot continued its descent, falling -2.1%. That speaks to BBBY’s continued vigilance. After four consecutive years of declines, however, we think that metric is likely to turn positive in F2012 as BBBY begins to invest more aggressively in buying, distribution and ecommerce. We adjust our estimates for the 53rd week: 2012E EPS from $4.20 to $4.26, 2013E from $4.77 to $4.88."
For an analyst ratings summary and ratings history on Bed Bath & Beyond click here. For more ratings news on Bed Bath & Beyond click here.
Shares of Bed Bath & Beyond closed at $61.43 yesterday.
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