Bed Bath & Beyond Q1 EPS 32c vs 53c year ago

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

Bed Bath & Beyond shares slide 16% as analysts slash stock price targets

Shares of Bed, Bath & Beyond Inc. fell 16% in premarket trade Thursday, as analysts weighed in on fourth-quarter earnings released late Wednesday with a series of stock price target cuts. The company beat earnings estimates for the quarter, but same-store sales fell more than forecast and the retailer offered weak guidance for fiscal 2018. Wedbush analysts slashed their stock price target to $18 from $23, noting that margins “remain under severe pressure.” And while they commend the company for aggressive investments in price, shipping, product and the customer experience, it’s unclear when those improvements will show up in earnings. “With the competition only getting better and spending more, the read-through is negative to home furnishings retailers without significant brand-driven pricing power including Williams-Sonoma and and Pier One ,” they wrote. KeyBanc cut its stock price target to $16 from $17, Credit Suisse lowered its target to $20 from $25 and J.P. Morgan cut its to $16 from $18. Shares have fallen 44% in the last 12 months, while the S&P 500 has gained 13%.

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

Leave a Reply