Best Buy (BBY) Getting Positive Media Coverage, Study Shows

Media stories about Best Buy (NYSE:BBY) have been trending positive on Saturday, according to InfoTrie Sentiment. The research firm identifies positive and negative press coverage by analyzing more than 6,000 blog and news sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores closest to five being the most favorable. Best Buy earned a daily sentiment score of 2.75 on their scale. InfoTrie also assigned news articles about the technology retailer an news buzz score of 9 out of 10, meaning that recent press coverage is extremely likely to have an impact on the stock’s share price in the near term.

These are some of the news articles that may have effected Best Buy’s score:

BBY traded down $5.44 during trading on Friday, reaching $67.79. The company’s stock had a trading volume of 6,358,062 shares, compared to its average volume of 2,998,144. Best Buy has a 52-week low of $52.92 and a 52-week high of $84.37. The firm has a market capitalization of $19.99 billion, a PE ratio of 15.34, a P/E/G ratio of 1.12 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.52 and a debt-to-equity ratio of 0.25.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $9.38 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts predict that Best Buy will post 5.11 EPS for the current year.

BBY has been the topic of several recent research reports. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “strong-buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, July 24th. Morgan Stanley boosted their price target on Best Buy from $74.00 to $78.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 29th. Telsey Advisory Group boosted their price target on Best Buy from $76.00 to $80.00 and gave the company a “market perform” rating in a research report on Wednesday, August 29th. JPMorgan Chase & Co. boosted their price target on Best Buy from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, August 29th. Finally, Raymond James boosted their price target on Best Buy from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $80.63.

In other Best Buy news, insider Asheesh Saksena sold 26,309 shares of Best Buy stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $80.07, for a total value of $2,106,561.63. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mathew Watson sold 2,131 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $77.88, for a total value of $165,962.28. Following the sale, the senior vice president now directly owns 18,131 shares in the company, valued at approximately $1,412,042.28. The disclosure for this sale can be found here. Insiders sold a total of 76,711 shares of company stock worth $6,081,426 in the last ninety days. 0.75% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION WARNING: “Best Buy (BBY) Getting Positive Media Coverage, Study Shows” was originally posted by WKRB News and is owned by of WKRB News. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.wkrb13.com/2018/11/11/best-buy-bby-getting-positive-media-coverage-study-shows.html.

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.

Featured Article: How to invest in a bear market

Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply