Best Buy Co. (BBY) to Release Quarterly Earnings on Thursday
Best Buy Co. (NYSE:BBY) is scheduled to be announcing its Q317 earnings results on Thursday, November 17th. Analysts expect the company to announce earnings of $0.47 per share and revenue of $8.85 billion for the quarter.
Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, August 23rd. The technology retailer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. The firm earned $8.53 billion during the quarter, compared to analysts’ expectations of $8.40 billion. Best Buy had a net margin of 2.62% and a return on equity of 22.44%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 EPS. On average, analysts expect Best Buy to post $3.06 EPS for the current fiscal year and $3.23 EPS for the next fiscal year.
Shares of Best Buy Co. (NYSE:BBY) opened at 39.88 on Wednesday. The firm has a market cap of $12.65 billion, a PE ratio of 12.98 and a beta of 1.51. Best Buy Co. has a 52-week low of $25.31 and a 52-week high of $40.58. The firm has a 50-day moving average of $38.70 and a 200 day moving average of $34.63.
In related news, VP Mathew Watson sold 1,030 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $39.45, for a total value of $40,633.50. Following the transaction, the vice president now directly owns 18,876 shares in the company, valued at approximately $744,658.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.21% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock worth $124,000 after buying an additional 253 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Best Buy by 2,685.2% in the second quarter. Loomis Sayles & Co. L P now owns 5,821 shares of the technology retailer’s stock worth $178,000 after buying an additional 5,612 shares in the last quarter. First Allied Advisory Services Inc. boosted its position in shares of Best Buy by 7.0% in the second quarter. First Allied Advisory Services Inc. now owns 6,954 shares of the technology retailer’s stock worth $212,000 after buying an additional 456 shares in the last quarter. Meiji Yasuda Life Insurance Co purchased a new position in shares of Best Buy during the second quarter worth about $289,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Best Buy during the second quarter worth about $308,000. Institutional investors own 86.48% of the company’s stock.
BBY has been the subject of a number of research analyst reports. Bank of America Corp. reaffirmed a “sell” rating and set a $29.00 price objective on shares of Best Buy in a research report on Wednesday, August 24th. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Tuesday, October 4th. SunTrust Banks Inc. reissued a “buy” rating on shares of Best Buy in a research report on Wednesday, October 12th. Vetr raised shares of Best Buy from a “hold” rating to a “buy” rating and set a $39.59 target price for the company in a research report on Thursday, September 8th. Finally, Citigroup Inc. boosted their target price on shares of Best Buy from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 24th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. Best Buy presently has an average rating of “Hold” and a consensus price target of $37.84.
About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.
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