$0.85 EPS Expected for Best Buy Co Inc (BBY) This Quarter
Wall Street brokerages expect Best Buy Co Inc (NYSE:BBY) to report earnings of $0.85 per share for the current quarter, Zacks reports. Nine analysts have issued estimates for Best Buy’s earnings, with the highest EPS estimate coming in at $0.93 and the lowest estimate coming in at $0.79. Best Buy reported earnings of $0.78 per share in the same quarter last year, which indicates a positive year over year growth rate of 9%. The company is expected to announce its next quarterly earnings report on Thursday, November 15th.
According to Zacks, analysts expect that Best Buy will report full year earnings of $5.10 per share for the current fiscal year, with EPS estimates ranging from $5.00 to $5.22. For the next year, analysts forecast that the company will post earnings of $5.56 per share, with EPS estimates ranging from $5.30 to $5.96. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Best Buy.
Best Buy (NYSE:BBY) last released its earnings results on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.38 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis.
In related news, insider Asheesh Saksena sold 18,570 shares of Best Buy stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $73.69, for a total transaction of $1,368,423.30. Following the completion of the sale, the insider now owns 77,478 shares of the company’s stock, valued at $5,709,353.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mathew Watson sold 457 shares of Best Buy stock in a transaction on Monday, June 11th. The shares were sold at an average price of $72.54, for a total value of $33,150.78. Following the sale, the senior vice president now directly owns 20,241 shares of the company’s stock, valued at approximately $1,468,282.14. The disclosure for this sale can be found here. Insiders have sold 24,027 shares of company stock valued at $1,789,874 in the last three months. 0.75% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Northern Trust Corp lifted its stake in Best Buy by 3.4% during the first quarter. Northern Trust Corp now owns 3,840,174 shares of the technology retailer’s stock worth $268,774,000 after purchasing an additional 125,125 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Best Buy by 20.9% during the second quarter. OppenheimerFunds Inc. now owns 3,498,002 shares of the technology retailer’s stock worth $260,880,000 after purchasing an additional 604,282 shares during the last quarter. LSV Asset Management lifted its stake in Best Buy by 31.1% during the second quarter. LSV Asset Management now owns 3,134,306 shares of the technology retailer’s stock worth $233,756,000 after purchasing an additional 742,913 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Best Buy by 84.4% during the second quarter. Janus Henderson Group PLC now owns 2,102,292 shares of the technology retailer’s stock worth $156,794,000 after purchasing an additional 962,231 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Best Buy by 44.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,635,325 shares of the technology retailer’s stock valued at $121,963,000 after acquiring an additional 505,061 shares during the last quarter. 82.08% of the stock is owned by institutional investors.
NYSE:BBY traded up $1.12 during trading hours on Tuesday, reaching $80.68. The stock had a trading volume of 3,640,300 shares, compared to its average volume of 3,468,525. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.52. Best Buy has a 12-month low of $51.61 and a 12-month high of $84.37. The company has a market capitalization of $22.23 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.26 and a beta of 0.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Investors of record on Tuesday, September 18th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, September 17th. Best Buy’s dividend payout ratio is 40.72%.
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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