Best Buy Co., Inc. (BBY) Expected to Announce Earnings of $2.00 Per Share
Equities research analysts forecast that Best Buy Co., Inc. (NYSE:BBY) will report earnings per share (EPS) of $2.00 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Best Buy Co.’s earnings. The lowest EPS estimate is $1.91 and the highest is $2.11. Best Buy Co. posted earnings per share of $1.95 during the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The company is scheduled to announce its next earnings report on Wednesday, March 7th.
On average, analysts expect that Best Buy Co. will report full-year earnings of $4.04 per share for the current fiscal year, with EPS estimates ranging from $3.95 to $4.20. For the next financial year, analysts forecast that the company will report earnings of $4.28 per share, with EPS estimates ranging from $4.07 to $4.54. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Best Buy Co..
Best Buy Co. (NYSE:BBY) last released its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.78. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The firm had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year.
A number of research analysts have issued reports on the company. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Best Buy Co. in a report on Tuesday, August 29th. BidaskClub raised Best Buy Co. from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Barclays PLC reissued a “buy” rating and issued a $65.00 price target on shares of Best Buy Co. in a report on Monday, August 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 price target on shares of Best Buy Co. in a report on Wednesday, August 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $60.00 price target on shares of Best Buy Co. in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Best Buy Co. currently has a consensus rating of “Buy” and an average price target of $58.86.
Shares of Best Buy Co. (BBY) traded up $0.58 during trading hours on Wednesday, reaching $55.83. The company’s stock had a trading volume of 5,160,200 shares, compared to its average volume of 4,485,312. Best Buy Co. has a one year low of $41.67 and a one year high of $63.32. The firm has a market capitalization of $16,530.00, a P/E ratio of 14.82, a PEG ratio of 1.18 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.42 and a quick ratio of 0.69.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.44%. Best Buy Co.’s payout ratio is currently 36.07%.
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In other Best Buy Co. news, General Counsel Keith J. Nelsen sold 2,433 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 value of $145,785.36. Following the completion of the sale, the general counsel now directly owns 66,873 shares in the company, valued at approximately $4,007,030.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shari L. Ballard sold 2,246 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 $134,580.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 166,259 shares of company stock valued at $9,182,693. 1.21% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of BBY. Thrivent Financial For Lutherans grew its holdings in Best Buy Co. by 4.1% in the 1st quarter. Thrivent Financial For Lutherans now owns 9,885 shares of the technology retailer’s stock valued at $486,000 after buying an additional 390 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Best Buy Co. by 508.5% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 45,868 shares of the technology retailer’s stock valued at $2,630,000 after purchasing an additional 38,330 shares during the last quarter. Eqis Capital Management Inc. lifted its stake in shares of Best Buy Co. by 23.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 7,400 shares of the technology retailer’s stock valued at $424,000 after purchasing an additional 1,411 shares during the last quarter. CENTRAL TRUST Co lifted its stake in shares of Best Buy Co. by 1.9% in the 2nd quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock valued at $304,000 after purchasing an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Best Buy Co. by 59.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 255,973 shares of the technology retailer’s stock valued at $14,675,000 after purchasing an additional 95,000 shares during the last quarter. Institutional investors own 87.52% of the company’s stock.
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.
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