Bed Bath & Beyond Earnings Preview
Bed Bath & Beyond Inc. is all set to release its earnings for the financial quarter on Thursday and analysts from SunTrust equity firm have presented an analysis on the stock activities of the firm in a note, which was published on Monday. The analysts of the financial firm are of the opinion that the company deserves a ‘buy’ rating with a target price of $88. The quarter earnings that will be announced next week will be for the second quarter of the financial year of 2015. Of the most important changes in the expected EPS made by the same analysts was when they lowered the predicted EPS from $1.21 to $1.19.
Previously, the consensus estimate was seen to come around at $1.21 only but now the predictions have been witnessed below the value on a general level. On a year-to-year basis, the current expectations for the EPS are comparatively more than the EPS received in the previous year, which was reported at $1.17. On the other hand, the analysts at SunTrust are also of the opinion that the retail company is not the only one in the industry to be expecting lower earnings, as all the other giants in the field are also going through a difficult time. This is mainly because of the fall the Canadian dollar was observed to experience in the start of the fiscal year, which has adversely affected the sales of all the companies in the industry.
As for the store sales, it was reported that Bed Bath is expecting a rise of one percent in the upcoming quarter, which seems to be exactly how the company planned things to go. Analysts, on the other hand, are of the opinion that this is not going to benefit the retailer too much as the cut off which will be made by the interest tax is very likely to take away all the positives that could have been enjoyed by the giant.
All the equity firms, which have covered the stock of the company, have come to the conclusion of offering a target price to the company of $73.22.
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