$0.85 Earnings Per Share Expected for Best Buy Co Inc (BBY) This Quarter

Wall Street analysts expect that Best Buy Co Inc (NYSE:BBY) will announce $0.85 earnings per share for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Best Buy’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.79. Best Buy posted earnings of $0.78 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 9%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 15th.

According to Zacks, analysts expect that Best Buy will report full-year earnings of $5.11 per share for the current financial year, with EPS estimates ranging from $5.03 to $5.22. For the next fiscal year, analysts expect that the company will post earnings of $5.57 per share, with EPS estimates ranging from $5.30 to $5.96. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Best Buy.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 28th. The technology retailer reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.08. Best Buy had a return on equity of 40.28% and a net margin of 2.44%. The business had revenue of $9.38 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year.

Several research analysts recently commented on BBY shares. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Monday, July 16th. ValuEngine upgraded Best Buy from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Jefferies Financial Group started coverage on Best Buy in a research note on Tuesday, August 21st. They issued a “hold” rating and a $79.00 price target on the stock. Wedbush set a $65.00 price target on Best Buy and gave the stock a “sell” rating in a research note on Thursday, August 23rd. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $78.00 price target on shares of Best Buy in a research note on Tuesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $80.50.

Shares of NYSE:BBY traded down $1.17 during trading on Monday, hitting $71.38. The company’s stock had a trading volume of 3,795,600 shares, compared to its average volume of 3,431,256. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.52 and a current ratio of 1.21. Best Buy has a fifty-two week low of $52.92 and a fifty-two week high of $84.37. The stock has a market cap of $21.79 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.23 and a beta of 0.98.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Investors of record on Tuesday, September 18th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, September 17th. Best Buy’s dividend payout ratio is currently 40.72%.

In other news, CFO Corie S. Barry sold 2,982 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $78.35, for a total transaction of $233,639.70. Following the completion of the transaction, the chief financial officer now directly owns 72,838 shares of the company’s stock, valued at $5,706,857.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mathew Watson sold 2,131 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $77.88, for a total value of $165,962.28. Following the transaction, the senior vice president now directly owns 18,131 shares of the company’s stock, valued at $1,412,042.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,928 shares of company stock valued at $5,587,624. 0.75% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new position in shares of Best Buy during the second quarter valued at approximately $174,000. Squar Milner Financial Services LLC bought a new position in shares of Best Buy during the second quarter valued at approximately $201,000. RFG Advisory Group LLC bought a new position in shares of Best Buy during the second quarter valued at approximately $210,000. Capital Investment Advisors LLC bought a new position in shares of Best Buy during the second quarter valued at approximately $210,000. Finally, Private Capital Group LLC grew its holdings in shares of Best Buy by 850.7% during the first quarter. Private Capital Group LLC now owns 2,852 shares of the technology retailer’s stock valued at $201,000 after purchasing an additional 2,552 shares during the last quarter. 83.52% of the stock is owned by institutional investors.

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 consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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