Oppenheimer Holdings Weighs in on Best Buy Co.’s Q4 2017 Earnings (BBY)
Best Buy Co. (NYSE:BBY) – Research analysts at Oppenheimer Holdings upped their Q4 2017 EPS estimates for Best Buy in a research note issued to investors on Thursday. Oppenheimer Holdings analyst B. Nagel now anticipates that the firm will post earnings of $1.62 per share for the quarter, up from their prior forecast of $1.55.
Best Buy (NYSE:BBY) last announced its earnings results on Thursday, November 17th. The technology retailer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.15. The firm had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Best Buy had a net margin of 2.78% and a return on equity of 24.18%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS.
A number of other research analysts have also recently weighed in on BBY. Telsey Advisory Group lifted their price objective on shares of Best Buy from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank Of Canada lifted their price objective on shares of Best Buy from $42.00 to $47.00 and gave the company a “sector perform” rating in a report on Friday. Wedbush lifted their price objective on shares of Best Buy from $20.50 to $24.50 and gave the company an “underperform” rating in a report on Friday. RBC Capital Markets lifted their price objective on shares of Best Buy from $42.00 to $47.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Morgan Stanley reiterated a “buy” rating on shares of Best Buy in a research report on Friday. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $39.66.
Shares of Best Buy (NYSE:BBY) opened at 44.79 on Monday. The stock’s 50 day moving average is $39.31 and its 200 day moving average is $34.97. The stock has a market capitalization of $14.16 billion, a PE ratio of 13.37 and a beta of 1.51. Best Buy has a 12 month low of $25.31 and a 12 month high of $46.72.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Tuesday, December 6th. Best Buy’s dividend payout ratio (DPR) is presently 33.73%.
In other news, VP Mathew Watson sold 1,030 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $39.45, for a total value of $40,633.50. Following the completion of the transaction, the vice president now 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 at this link. 1.21% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Conning Inc. boosted its position 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 boosted its stake 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 worth $834,000 after buying an additional 108 shares in the last quarter. Blair William & Co. IL boosted its stake 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 boosted its stake 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. boosted its stake 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. Institutional investors and hedge funds own 86.47% of the company’s stock.
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.
Receive News & Stock Ratings for Best Buy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. and related stocks with our FREE daily email newsletter.