Analysts forecast that Best Buy Co Inc (NYSE:BBY) will report $0.99 earnings per share for the current quarter, according to Zacks. Nine analysts have issued estimates for Best Buy’s earnings. The highest EPS estimate is $1.02 and the lowest is $0.97. Best Buy posted earnings per share of $0.91 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The business is expected to issue its next quarterly earnings report on Tuesday, August 27th.
On average, analysts expect that Best Buy will report full year earnings of $5.74 per share for the current financial year, with EPS estimates ranging from $5.61 to $5.95. For the next year, analysts expect that the firm will post earnings of $6.08 per share, with EPS estimates ranging from $5.76 to $6.38. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Best Buy.
Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 23rd. The technology retailer reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.14. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Best Buy had a net margin of 3.54% and a return on equity of 47.91%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share.
BBY has been the topic of several recent research reports. Wedbush set a $79.00 target price on shares of Aimmune Therapeutics and gave the stock a “buy” rating in a report on Friday, May 24th. Zacks Investment Research cut shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Guggenheim started coverage on shares of Best Buy in a research report on Monday. They issued a “buy” rating and a $80.00 price objective for the company. Goldman Sachs Group raised shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Thursday. Finally, Oppenheimer set a $22.00 price objective on shares of Par Pacific and gave the company a “buy” rating in a research report on Monday, March 25th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $77.67.
In other news, major shareholder Richard M. Schulze sold 418,812 shares of Best Buy stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $72.06, for a total transaction of $30,179,592.72. Following the completion of the transaction, the insider now directly owns 1,732,500 shares of the company’s stock, valued at approximately $124,843,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Todd G. Hartman sold 9,008 shares of Best Buy stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $72.01, for a total transaction of $648,666.08. Following the transaction, the insider now directly owns 33,974 shares of the company’s stock, valued at $2,446,467.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,642,656 shares of company stock valued at $114,057,554 over the last three months. 0.95% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of BBY. Creative Planning grew its stake in Best Buy by 0.3% in the 1st quarter. Creative Planning now owns 56,749 shares of the technology retailer’s stock valued at $4,033,000 after acquiring an additional 168 shares during the period. Alpha Omega Wealth Management LLC grew its stake in Best Buy by 28.0% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 768 shares of the technology retailer’s stock valued at $55,000 after acquiring an additional 168 shares during the period. Securian Asset Management Inc grew its stake in Best Buy by 0.7% in the 1st quarter. Securian Asset Management Inc now owns 23,831 shares of the technology retailer’s stock valued at $1,693,000 after acquiring an additional 174 shares during the period. Smithfield Trust Co. grew its stake in Best Buy by 5.7% in the 1st quarter. Smithfield Trust Co. now owns 3,202 shares of the technology retailer’s stock valued at $228,000 after acquiring an additional 174 shares during the period. Finally, Foster & Motley Inc. grew its stake in Best Buy by 2.4% in the 1st quarter. Foster & Motley Inc. now owns 7,414 shares of the technology retailer’s stock valued at $527,000 after acquiring an additional 174 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE BBY traded up $1.02 during mid-day trading on Friday, reaching $74.77. The company had a trading volume of 2,205,704 shares, compared to its average volume of 3,120,936. The stock’s 50-day moving average price is $67.22. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.39 and a current ratio of 1.12. The firm has a market cap of $19.21 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. Best Buy has a 52 week low of $47.72 and a 52 week high of $84.37.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 13th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Wednesday, June 12th. Best Buy’s dividend payout ratio is presently 37.59%.
Best Buy Company Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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