Bed Bath & Beyond (BBBY) closed at $0.79 in the latest trading session, marking a +0.44% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Coming into today, shares of the home goods retailer had lost 46.75% in the past month. In that same time, the Retail-Wholesale sector lost 1.21%, while the S&P 500 gained 0.07%.
Bed Bath & Beyond will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$2.15, down 133.7% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.42 billion, down 30.63% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Bed Bath & Beyond. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Bed Bath & Beyond is currently a Zacks Rank #3 (Hold).
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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