Best Buy Co. (NYSE:BBY) released its earnings results on Thursday. The technology retailer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.15. The company earned $8.95 billion during the quarter, compared to analyst estimates of $8.85 billion. Best Buy had a return on equity of 22.44% and a net margin of 2.62%. Best Buy’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Best Buy updated its Q4 guidance to $1.62-1.67 EPS.

Best Buy (NYSE:BBY) opened at 42.96 on Thursday. Best Buy has a one year low of $25.31 and a one year high of $43.50. The stock’s 50 day moving average price is $38.88 and its 200-day moving average price is $34.80. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 13.98 and a beta of 1.51.

Earnings History for Best Buy (NYSE:BBY)

Several equities analysts have weighed in on BBY shares. SunTrust Banks Inc. increased their price objective on Best Buy from $39.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. Raymond James Financial Inc. upped their target price on shares of Best Buy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, August 24th. Evercore ISI downgraded shares of Best Buy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 8th. They noted that the move was a valuation call. Telsey Advisory Group increased their price objective on shares of Best Buy from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, August 24th. Finally, Vetr downgraded shares of Best Buy from a “hold” rating to a “sell” rating and set a $33.48 price objective on the stock. in a research note on Monday, August 15th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. Best Buy currently has a consensus rating of “Hold” and a consensus price target of $37.84.

In other news, VP Mathew Watson sold 1,030 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $39.45, for a total transaction of $40,633.50. Following the completion of the sale, the vice president now owns 18,876 shares of the company’s stock, valued at approximately $744,658.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BBY. Conning Inc. boosted its stake in shares of Best Buy by 0.3% in the third quarter. Conning Inc. now owns 12,677 shares of the technology retailer’s stock valued at $484,000 after buying an additional 40 shares during the last quarter. Advantus Capital Management Inc increased its position in shares of Best Buy by 0.4% in the second quarter. Advantus Capital Management Inc now owns 27,269 shares of the technology retailer’s stock valued at $834,000 after buying an additional 108 shares during the last quarter. Blair William & Co. IL increased its position in shares of Best Buy by 0.7% in the second quarter. Blair William & Co. IL now owns 17,829 shares of the technology retailer’s stock worth $546,000 after buying an additional 125 shares in the last quarter. World Asset Management Inc increased its position in shares of Best Buy by 0.5% in the second quarter. World Asset Management Inc now owns 31,449 shares of the technology retailer’s stock worth $962,000 after buying an additional 172 shares in the last quarter. Finally, Pacer Advisors Inc. increased 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. 86.48% of the stock is owned by institutional investors.

Best Buy Company Profile

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.

5 Day Chart for NYSE:BBY

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