Beyond (NYSE:BYON) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Beyond (NYSE:BYON) announced its quarterly earnings results on Monday. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13, Briefing.com reports. Beyond had a negative net margin of 22.03% and a negative return on equity of 44.66%. The company had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $381.74 million. During the same period in the prior year, the company posted ($0.02) EPS. Beyond’s revenue was down 5.7% compared to the same quarter last year.

Beyond Price Performance

Shares of NYSE BYON traded down $0.43 during mid-day trading on Wednesday, reaching $11.83. 507,480 shares of the company were exchanged, compared to its average volume of 1,767,990. Beyond has a 52 week low of $11.72 and a 52 week high of $39.27. The company’s 50 day moving average price is $13.93 and its 200 day moving average price is $22.08. The stock has a market capitalization of $541.22 million, a PE ratio of -1.50 and a beta of 3.70. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BYON shares. Maxim Group dropped their target price on Beyond from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Beyond in a research report on Monday, May 20th. Barclays cut their price objective on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Wedbush reiterated an “outperform” rating and issued a $37.00 target price on shares of Beyond in a research note on Wednesday, July 24th. Finally, Bank of America reduced their price target on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Beyond presently has a consensus rating of “Hold” and an average price target of $29.43.

Insider Activity at Beyond

In other news, Director Joseph J. Tabacco, Jr. purchased 12,400 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $16.01 per share, with a total value of $198,524.00. Following the completion of the purchase, the director now directly owns 97,458 shares in the company, valued at approximately $1,560,302.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Beyond news, Director Joseph J. Tabacco, Jr. acquired 12,400 shares of the stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $16.01 per share, for a total transaction of $198,524.00. Following the acquisition, the director now owns 97,458 shares in the company, valued at approximately $1,560,302.58. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Marcus Lemonis bought 17,075 shares of Beyond stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average cost of $14.61 per share, for a total transaction of $249,465.75. Following the acquisition, the chairman now owns 186,973 shares in the company, valued at approximately $2,731,675.53. The disclosure for this purchase can be found here. Insiders have bought a total of 40,095 shares of company stock valued at $596,237 over the last 90 days. 1.20% of the stock is owned by 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.