Best Buy (NYSE:BBY) announced its quarterly earnings data on Thursday. The technology retailer reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.26, MarketWatch Earnings reports. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.26 billion. Best Buy had a return on equity of 49.17% and a net margin of 3.53%. Best Buy’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 earnings per share.
BBY opened at $77.98 on Friday. The stock has a fifty day moving average of $70.54 and a 200-day moving average of $77.83. The firm has a market capitalization of $21.00 billion, a P/E ratio of 13.42, a PEG ratio of 2.33 and a beta of 1.50. Best Buy has a 12-month low of $48.10 and a 12-month high of $91.99. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 0.98.
A number of brokerages recently issued reports on BBY. Nomura Securities increased their price objective on Best Buy from $58.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Nomura raised Best Buy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $85.00 in a report on Monday, May 11th. Oppenheimer assumed coverage on Best Buy in a report on Thursday. They issued a “buy” rating and a $105.00 price objective for the company. Morgan Stanley upped their target price on Best Buy from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Telsey Advisory Group upgraded Best Buy from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $86.62.
In other news, COO Rajendra M. Mohan sold 4,156 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $56.89, for a total value of $236,434.84. Following the completion of the sale, the chief operating officer now owns 152,608 shares in the company, valued at $8,681,869.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd G. Hartman sold 1,179 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $67.97, for a total value of $80,136.63. Following the completion of the sale, the insider now owns 23,706 shares of the company’s stock, valued at approximately $1,611,296.82. The disclosure for this sale can be found here. Insiders sold 63,602 shares of company stock valued at $3,536,169 in the last 90 days. Corporate insiders own 0.95% of the company’s stock.
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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