Best Buy Co., Inc. (NYSE:BBY) – Equities researchers at Oppenheimer Holdings upped their FY2018 earnings estimates for Best Buy Co. in a report issued on Tuesday. Oppenheimer Holdings analyst B. Nagel now forecasts that the technology retailer will post earnings per share of $3.99 for the year, up from their prior forecast of $3.72. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Best Buy Co.’s FY2019 earnings at $4.20 EPS.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the company posted $0.57 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year.

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Other research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Best Buy Co. from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Barclays PLC restated a “buy” rating and issued a $65.00 price objective on shares of Best Buy Co. in a research report on Monday. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price objective on shares of Best Buy Co. in a research report on Wednesday, August 23rd. ValuEngine cut shares of Best Buy Co. from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Finally, Telsey Advisory Group upped their price objective on shares of Best Buy Co. from $53.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Best Buy Co. has a consensus rating of “Buy” and a consensus price target of $58.92.

Best Buy Co. (BBY) traded down 0.22% during midday trading on Wednesday, hitting $54.14. 2,996,499 shares of the stock were exchanged. The company has a market capitalization of $16.46 billion, a P/E ratio of 14.33 and a beta of 1.45. The company’s 50 day moving average is $58.38 and its 200 day moving average is $52.86. Best Buy Co. has a 1-year low of $36.51 and a 1-year high of $63.32.

Several large investors have recently added to or reduced their stakes in the stock. Cleararc Capital Inc. boosted its position in shares of Best Buy Co. by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,644 shares of the technology retailer’s stock valued at $327,000 after buying an additional 18 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Best Buy Co. by 0.3% in the second quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock valued at $860,000 after buying an additional 48 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Best Buy Co. by 1.2% in the second quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock valued at $265,000 after buying an additional 55 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Best Buy Co. by 1.9% in the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock valued at $304,000 after buying an additional 100 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Best Buy Co. by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,173 shares of the technology retailer’s stock valued at $844,000 after buying an additional 106 shares during the last quarter. 86.43% of the stock is currently owned by institutional investors.

In related news, CFO Corie S. Barry sold 787 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $47,157.04. Following the sale, the chief financial officer now directly owns 54,159 shares of the company’s stock, valued at $3,245,207.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mathew Watson sold 503 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $59.00, for a total value of $29,677.00. Following the sale, the vice president now directly owns 15,767 shares in the company, valued at $930,253. The disclosure for this sale can be found here. Insiders have sold 61,924 shares of company stock valued at $3,562,092 over the last 90 days. Corporate insiders own 1.21% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, September 18th. This represents a $1.36 annualized dividend and a dividend yield of 2.51%. Best Buy Co.’s payout ratio is presently 35.88%.

Best Buy Co. 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 has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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

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