Best Buy (NYSE:BBY) Posts Earnings Results, Beats Estimates By $0.26 EPS

Best Buy (NYSE:BBY) released its quarterly earnings data on Thursday. The technology retailer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.26, MarketWatch Earnings reports. Best Buy had a net margin of 3.33% and a return on equity of 45.89%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis.

BBY opened at $76.92 on Friday. Best Buy has a 12 month low of $48.10 and a 12 month high of $91.99. The business has a 50-day moving average of $70.96 and a two-hundred day moving average of $77.86. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.02 and a quick ratio of 0.46. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 2.22 and a beta of 1.50.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, June 10th. Best Buy’s payout ratio is 36.24%.

In other news, CAO Mathew Watson sold 806 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.42, for a total transaction of $43,862.52. Following the completion of the sale, the chief accounting officer now directly owns 20,137 shares in the company, valued at approximately $1,095,855.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew M. Bilunas sold 782 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 $44,487.98. Following the completion of the transaction, the chief financial officer now directly owns 25,465 shares in the company, valued at $1,448,703.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,602 shares of company stock worth $3,536,169. Insiders own 0.95% of the company’s stock.

Several equities research analysts have recently commented on BBY shares. Oppenheimer assumed coverage on Best Buy in a research note on Thursday. They set a “buy” rating and a $105.00 price target on the stock. Barclays boosted their target price on Best Buy from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday. Nomura dropped their price target on Best Buy from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday. Royal Bank of Canada reiterated a “buy” rating on shares of Best Buy in a research report on Monday, March 23rd. Finally, UBS Group raised their target price on shares of Best Buy from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, May 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.52.

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 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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Earnings History for Best Buy (NYSE:BBY)

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