Best Buy Co. (NYSE:BBY) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.62-1.67 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.58. The company issued revenue guidance of $13.4-13.6 billion, compared to the consensus revenue estimate of $13.70 billion.

Best Buy Co. (NYSE:BBY) opened at 40.45 on Thursday. The stock’s 50 day moving average price is $38.88 and its 200 day moving average price is $34.80. Best Buy Co. has a one year low of $25.31 and a one year high of $40.60. The company has a market capitalization of $12.83 billion, a P/E ratio of 13.16 and a beta of 1.51.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, November 17th. The technology retailer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.47 by $0.15. The firm had revenue of $8.95 billion for 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 revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. Equities analysts anticipate that Best Buy Co. will post $3.06 EPS for the current fiscal year.

Earnings History and Estimates for Best Buy (NYSE:BBY)

Several equities analysts have recently weighed in on BBY shares. Zacks Investment Research downgraded Best Buy from a strong-buy rating to a sell rating in a research report on Tuesday, October 25th. Vetr upgraded Best Buy from a hold rating to a buy rating and set a $39.59 price objective on the stock in a research report on Thursday, September 8th. Barclays PLC reiterated a buy rating and set a $45.00 price objective on shares of Best Buy in a research report on Tuesday, August 23rd. Bank of America Corp. reiterated a sell rating and set a $29.00 price objective on shares of Best Buy in a research report on Wednesday, August 24th. Finally, Wedbush reiterated a buy rating and set a $20.50 price objective on shares of Best Buy in a research report on Wednesday, August 17th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. Best Buy presently has an average rating of Hold and an average price target of $37.84.

In other Best Buy news, VP Mathew Watson sold 1,030 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $39.45, for a total transaction of $40,633.50. Following the sale, the vice president now directly owns 18,876 shares of the company’s stock, valued at $744,658.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.21% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock valued at $124,000 after buying an additional 253 shares during the period. Loomis Sayles & Co. L P increased its stake in 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 valued at $178,000 after buying an additional 5,612 shares during the period. First Allied Advisory Services Inc. increased its stake in 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 valued at $212,000 after buying an additional 456 shares during the period. Meiji Yasuda Life Insurance Co acquired a new stake in Best Buy during the second quarter valued at approximately $289,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Best Buy during the second quarter valued at approximately $308,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

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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