Bed Bath & Beyond’s Earnings Report

This Wednesday, Bed Bath & Beyond (BBBY) is due to report its first-quarter earnings. This will be for the quarter that ended with the month of May.
I’m a little anxious about this report. Up until last Wednesday, the stock had had a pretty good run. During the financial crisis, the shares got to as low as $16 in November 2008. They hit a peak of $48 earlier this year.
The company is doing very well and BBBY has creamed earnings for the last few quarters, particularly the last five. But at this price, I can’t say that the stock is a screaming bargain. It’s a very good stock at a fair price, not a great price.
The current consensus on Wall Street is that BBBY will earn 48 cents a share for Q1. That’s probably low but not by much. In April, the company gave a range of 44 to 48 cents per share. That’s a lowball. My expectation is that BBBY will earn 52 to 54 cents a share. I’m curious what they’ll say for Q2 expectations.

Posted by on June 21st, 2010 at 10:47 am


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