The S&P was down 1.55 points, or 0.11%, to 1,397.41.
Shares of Bed Bath & Beyond rose 7.17% to $70.98. The retailer's fiscal fourth-quarter earnings beat analysts' expectations.
Bed Bath & Beyond reported earnings of $351 million, or $1.48 a share, up from year-earlier earnings of $283.5 million, or $1.12 a share. Analysts were anticipating profit of $1.33 a share..Bed Bath & Beyond has an estimated price-to-earnings ratio for next year of 13.91 times; the average for specialty retailers is 16.43. For comparison, Williams-Sonoma (WSM) and Mattress Firm Holdings (MFRM) have higher forward P/Es of 14.01 and 28.62, respectively. Sixteen of the 29 analysts who cover Bed Bath & Beyond rated it buy. Twelve analysts gave the stock a hold rating and one rated it sell. TheStreet Ratings gives Bed Bath & Beyond an A grade with a buy rating and a $81.80 price target. The stock has risen 22.43% year to date. -- Written by Alexandra Zendrian
>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: firstname.lastname@example.org. >To follow the writer on Twitter, go to Alexandra Zendrian.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV