Best Buy Co., Inc. (NYSE:BBY) – KeyCorp dropped their FY2018 earnings estimates for Best Buy Co. in a report released on Thursday. KeyCorp analyst B. Thomas now anticipates that the technology retailer will post earnings per share of $4.01 for the year, down from their prior estimate of $4.04. KeyCorp currently has a “Hold” rating on the stock.

Best Buy Co. (NYSE:BBY) last released its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. Best Buy Co. had a return on equity of 28.46% and a net margin of 3.09%. The company had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “KeyCorp Equities Analysts Reduce Earnings Estimates for Best Buy Co., Inc. (BBY)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/11/20/keycorp-equities-analysts-reduce-earnings-estimates-for-best-buy-co-inc-bby.html.

Other equities analysts have also recently issued research reports about the company. Loop Capital reaffirmed a “buy” rating and set a $72.00 target price on shares of Best Buy Co. in a research note on Thursday, August 31st. Barclays PLC reissued a “buy” rating and issued a $65.00 price target on shares of Best Buy Co. in a research note 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 research note on Wednesday, August 23rd. Deutsche Bank AG reissued a “buy” rating and issued a $60.00 price target on shares of Best Buy Co. in a research note on Thursday, August 3rd. Finally, BidaskClub raised Best Buy Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $58.86.

Best Buy Co. (BBY) opened at $55.83 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. Best Buy Co. has a 12 month low of $41.67 and a 12 month high of $63.32. The firm has a market capitalization of $16,700.00, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.42.

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB grew its holdings in shares of Best Buy Co. by 0.3% during the second quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock worth $860,000 after purchasing an additional 48 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Best Buy Co. by 1.2% during the second quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock worth $265,000 after purchasing an additional 55 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Best Buy Co. by 6.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after purchasing an additional 163 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Best Buy Co. by 1.7% during the second quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock worth $576,000 after purchasing an additional 170 shares during the last quarter. Finally, Financial Advisors Network Inc. grew its holdings in shares of Best Buy Co. by 2.3% during the second quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock worth $433,000 after purchasing an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

In other Best Buy Co. news, insider Kathleen Scarlett sold 10,797 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total value of $566,734.53. Following the sale, the insider now directly owns 25,690 shares in the company, valued at $1,348,468.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Corie S. Barry sold 3,134 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $57.26, for a total value of $179,452.84. The disclosure for this sale can be found here. Insiders sold 145,799 shares of company stock valued at $7,956,730 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.44%. Best Buy Co.’s payout ratio is 34.43%.

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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