Best Buy Co., Inc. (NYSE:BBY) – Equities researchers at Jefferies Group lifted their Q4 2018 EPS estimates for shares of Best Buy Co. in a research note issued on Monday. Jefferies Group analyst D. Binder now forecasts that the technology retailer will earn $2.04 per share for the quarter, up from their prior forecast of $2.00. Jefferies Group has a “Hold” rating and a $60.00 price target on the stock.

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

TRADEMARK VIOLATION WARNING: “Q4 2018 EPS Estimates for Best Buy Co., Inc. Lifted by Analyst (BBY)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.thecerbatgem.com/2017/11/15/q4-2018-eps-estimates-for-best-buy-co-inc-lifted-by-analyst-bby.html.

Several other equities research analysts also recently issued reports on the stock. Barclays PLC restated a “buy” rating and issued a $65.00 price objective on shares of Best Buy Co. in a research note on Monday, August 28th. Zacks Investment Research raised Best Buy Co. from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, October 10th. KeyCorp reaffirmed a “hold” rating on shares of Best Buy Co. in a research report on Friday, November 10th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $58.00 target price (down from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Finally, BidaskClub raised Best Buy Co. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Best Buy Co. currently has an average rating of “Buy” and an average target price of $58.97.

Shares of Best Buy Co. (BBY) traded up $0.23 during mid-day trading on Wednesday, reaching $57.20. The company’s stock had a trading volume of 2,941,800 shares, compared to its average volume of 4,415,257. Best Buy Co. has a one year low of $39.03 and a one year high of $63.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.69 and a current ratio of 1.42. The firm has a market capitalization of $17,044.55, a P/E ratio of 14.76, a PEG ratio of 1.15 and a beta of 1.42.

In other news, CFO Corie S. Barry sold 787 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 54,159 shares in the company, valued at approximately $3,245,207.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hubert Joly sold 14,734 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $882,861.28. Following the sale, the chief executive officer now owns 540,694 shares of the company’s stock, valued at $32,398,384.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 166,259 shares of company stock worth $9,182,693. Insiders own 0.84% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Spectrum Management Group Inc. lifted its position in shares of Best Buy Co. by 25.7% during the 2nd quarter. Spectrum Management Group Inc. now owns 21,515 shares of the technology retailer’s stock worth $1,233,000 after buying an additional 4,405 shares during the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO bought a new stake in shares of Best Buy Co. during the 2nd quarter worth $1,534,000. Commerzbank Aktiengesellschaft FI lifted its position in shares of Best Buy Co. by 18.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 83,623 shares of the technology retailer’s stock worth $4,794,000 after buying an additional 13,150 shares during the last quarter. Viking Fund Management LLC lifted its position in shares of Best Buy Co. by 66.7% during the 3rd quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock worth $570,000 after buying an additional 4,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Best Buy Co. by 23.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,179 shares of the technology retailer’s stock worth $10,330,000 after buying an additional 34,345 shares during the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.

About Best Buy Co.

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)

Receive News & Stock Ratings for Best Buy Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. Inc. and related stocks with our FREE daily email newsletter.