Best Buy (NYSE:BBY) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.09-5.19 for the period, compared to the Thomson Reuters consensus estimate of $5.11. The company issued revenue guidance of $42.5-42.9 billion, compared to the consensus revenue estimate of $42.76 billion.Best Buy also updated its Q4 2019 guidance to $2.48-2.58 EPS.
A number of equities analysts have recently commented on the company. Barclays reaffirmed a buy rating and issued a $90.00 price target on shares of Best Buy in a report on Wednesday, August 29th. Zacks Investment Research downgraded Best Buy from a buy rating to a hold rating in a research report on Wednesday, November 14th. Credit Suisse Group increased their price objective on Best Buy from $74.00 to $78.00 and gave the stock a hold rating in a research report on Wednesday, August 29th. Bank of America reiterated a buy rating and issued a $92.00 price objective on shares of Best Buy in a research report on Tuesday, August 28th. Finally, Wells Fargo & Co reiterated a hold rating and issued a $78.00 price objective on shares of Best Buy in a research report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $79.25.
BBY opened at $62.20 on Tuesday. The stock has a market capitalization of $18.24 billion, a PE ratio of 14.07, a P/E/G ratio of 1.11 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 has a 12 month low of $55.81 and a 12 month high of $84.37.
In other Best Buy news, General Counsel Keith J. Nelsen sold 33,473 shares of Best Buy stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $80.38, for a total transaction of $2,690,559.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Corie S. Barry sold 2,982 shares of Best Buy stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $78.35, for a total value of $233,639.70. Following the sale, the chief financial officer now directly owns 72,838 shares in the company, valued at $5,706,857.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,711 shares of company stock worth $6,081,426. Insiders own 0.75% of the company’s stock.
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About Best Buy
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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