Best Buy Co., Inc. (BBY) Releases Q4 Earnings Guidance
Best Buy Co., Inc. (NYSE:BBY) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.89-1.99 for the period, compared to the Thomson Reuters consensus estimate of $2.03. The company issued revenue guidance of $14.2-14.5 billion, compared to the consensus revenue estimate of $14.36 billion.
Shares of Best Buy Co., Inc. (BBY) opened at $57.30 on Thursday. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30. The stock has a market cap of $17,113.36, a P/E ratio of 14.82, a P/E/G ratio of 1.18 and a beta of 1.42. Best Buy Co., Inc. has a 52-week low of $39.43 and a 52-week high of $63.32.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Wednesday, November 15th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. analysts forecast that Best Buy Co., Inc. will post 4.06 earnings per share for the current fiscal year.
Several analysts recently issued reports on BBY shares. BidaskClub upgraded shares of Best Buy Co. from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded shares of Best Buy Co. from a hold rating to a buy rating and set a $66.00 price target on the stock in a research report on Tuesday, October 10th. Jefferies Group LLC restated a hold rating and issued a $60.00 target price on shares of Best Buy Co. in a research report on Monday. They noted that the move was a valuation call. SunTrust Banks, Inc. set a $70.00 target price on shares of Best Buy Co. and gave the company a buy rating in a research report on Saturday, July 22nd. Finally, Loop Capital restated a buy rating and issued a $72.00 target price on shares of Best Buy Co. in a research report on Thursday, August 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $58.97.
In other Best Buy Co. news, VP Mathew Watson sold 1,129 shares of Best Buy Co. stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $61,733.72. Following the completion of the sale, the vice president now directly owns 17,764 shares of the company’s stock, valued at $971,335.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kathleen Scarlett sold 10,797 shares of Best Buy Co. stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total transaction of $566,734.53. Following the completion of the sale, the insider now directly owns 25,690 shares of the company’s stock, valued at $1,348,468.10. The disclosure for this sale can be found here. Insiders have sold 166,259 shares of company stock valued at $9,182,693 in the last three months. 1.21% of the stock is owned by insiders.
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Best Buy Co. Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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