BBBY Breaks $37

Bed Bath & Beyond (BBBY) plunged in June after Wall Street hated its first-quarter earnings report. Shares of BBBY got all the way down to $31. The earnings report, however, wasn’t that bad. Sure, it could have been better, but the company earned 35 cents a share, which was in line with estimates.
BBBY will report earnings again next Wednesday. In June, the company said it will earn 51 cents a share for the quarter which was six cents more than Wall Street was expecting. I wouldn’t be surprised if they were lowballing us. For the full year, BBBY expects earnings of $2.17 a share. This means the stock is trading at 17 times this year’s earnings.

Posted by Eddy Elfenbein on September 14th, 2006 at 1:16 pm

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