Q2 2024 EPS Estimates for Beyond, Inc. (NYSE:BYON) Cut by Wedbush

Beyond, Inc. (NYSE:BYON) – Equities researchers at Wedbush cut their Q2 2024 earnings per share (EPS) estimates for shares of Beyond in a research note issued to investors on Wednesday, July 24th. Wedbush analyst M. Pachter now forecasts that the company will post earnings of ($0.91) per share for the quarter, down from their previous forecast of ($0.71). Wedbush currently has a “Outperform” rating and a $37.00 target price on the stock. The consensus estimate for Beyond’s current full-year earnings is ($3.30) per share. Wedbush also issued estimates for Beyond’s FY2024 earnings at ($2.84) EPS.

Beyond (NYSE:BYON) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.13. Beyond had a negative return on equity of 32.05% and a negative net margin of 23.67%. The business had revenue of $398.10 million for the quarter, compared to analyst estimates of $381.74 million. During the same quarter in the previous year, the firm earned ($0.02) EPS. The company’s quarterly revenue was down 5.7% compared to the same quarter last year.

BYON has been the topic of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Beyond in a report on Monday, May 20th. Piper Sandler cut their price objective on Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Bank of America cut their price objective on Beyond from $19.00 to $15.50 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Barclays cut their price objective on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Finally, Maxim Group cut their price objective on Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Beyond has a consensus rating of “Hold” and a consensus target price of $29.50.

Beyond Stock Down 9.9 %

NYSE BYON opened at $12.25 on Monday. Beyond has a 52 week low of $11.95 and a 52 week high of $39.27. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $13.93 and its 200-day simple moving average is $22.08. The firm has a market cap of $560.44 million, a PE ratio of -1.50 and a beta of 3.71.

Hedge Funds Weigh In On Beyond

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC purchased a new position in shares of Beyond in the 2nd quarter valued at about $46,000. Public Employees Retirement System of Ohio purchased a new stake in Beyond during the first quarter worth approximately $66,000. Lazard Asset Management LLC purchased a new stake in Beyond during the first quarter worth approximately $70,000. DekaBank Deutsche Girozentrale purchased a new stake in Beyond during the first quarter worth approximately $71,000. Finally, Tobam purchased a new stake in Beyond during the second quarter worth approximately $78,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Insider Buying and Selling at Beyond

In other news, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average cost of $16.01 per share, with a total value of $198,524.00. Following the transaction, the director now directly owns 97,458 shares in the company, valued at approximately $1,560,302.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Marcus Lemonis acquired 6,920 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $14.13 per share, for a total transaction of $97,779.60. Following the purchase, the chairman now owns 193,893 shares of the company’s stock, valued at approximately $2,739,708.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph J. Tabacco, Jr. acquired 12,400 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of $16.01 per share, with a total value of $198,524.00. Following the purchase, the director now directly owns 97,458 shares in the company, valued at approximately $1,560,302.58. The disclosure for this purchase can be found here. Insiders bought a total of 40,095 shares of company stock valued at $596,237 in the last three months. 1.20% of the stock is owned by corporate insiders.

About Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.