Bed Bath & Beyond (BBBY) Will Deliver in Q3, Says Analyst
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Price: $0.08 --0%
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 50
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 50
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With two quarters of weak results tied to its ankles, shares of Bed Bath & Beyond (NASDAQ: BBBY) sank 18.5 percent in 6 months. The move lower comes despite positive trends in overall housing, seen as a potential catalyst for home furnishings. With Q3 earnings on tap for December 19th,, and with expectations low, a few are optimistic Bed Bath and Beyond will put up positive numbers.
Analyst John Marrin of Jefferies is among those optimistic about BBBY’s Q3. He thinks sales and EPS performance in 3Q is likely to satisfy the market.
"Our checks through the quarter suggest sales trends were solid as the company goes up against an easier compare on both a 1- and 2-year basis."
Green Mountain Coffee Roasters' (Nasdaq: GMCR) Keurig is one of the products that are likely to sell well in the quarter, thinks Marrin, as underlying sales trends this year were better than previously thought.
Jefferies expects BBBY to report EPS of $1.01.
Jefferies has a Buy rating on Bed Bath & Beyond (NASDAQ: BBBY) with a modified price target of $72.00 (from $78.00).
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 $57.87 yesterday.
Analyst John Marrin of Jefferies is among those optimistic about BBBY’s Q3. He thinks sales and EPS performance in 3Q is likely to satisfy the market.
"Our checks through the quarter suggest sales trends were solid as the company goes up against an easier compare on both a 1- and 2-year basis."
Green Mountain Coffee Roasters' (Nasdaq: GMCR) Keurig is one of the products that are likely to sell well in the quarter, thinks Marrin, as underlying sales trends this year were better than previously thought.
Jefferies expects BBBY to report EPS of $1.01.
Jefferies has a Buy rating on Bed Bath & Beyond (NASDAQ: BBBY) with a modified price target of $72.00 (from $78.00).
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 $57.87 yesterday.
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