Best Buy Co., Inc. (BBY) to Post Q4 2018 Earnings of $1.97 Per Share, Oppenheimer Holdings Forecasts
Best Buy Co., Inc. (NYSE:BBY) – Equities researchers at Oppenheimer Holdings lowered their Q4 2018 earnings estimates for shares of Best Buy Co. in a report issued on Thursday. Oppenheimer Holdings analyst B. Nagel now anticipates that the technology retailer will post earnings of $1.97 per share for the quarter, down from their previous forecast of $2.00. Oppenheimer Holdings has a “Hold” rating on the stock.
A number of other research firms have also recently commented on BBY. BidaskClub raised Best Buy Co. from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Barclays PLC reissued a “buy” rating and issued a $65.00 target price on shares of Best Buy Co. in a research note on Monday, August 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $60.00 price objective on shares of Best Buy Co. in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $60.00 price objective on shares of Best Buy Co. in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $58.86.
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Best Buy Co. (NYSE:BBY) traded up $0.43 on Monday, reaching $56.49. The company had a trading volume of 3,317,661 shares, compared to its average volume of 4,472,972. The company has a market capitalization of $16,900.00, a PE ratio of 14.02, a PEG ratio of 1.17 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Best Buy Co. has a 1-year low of $41.67 and a 1-year high of $63.32.
Best Buy Co. (NYSE:BBY) last released its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.78. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy Co. had a return on equity of 28.46% and a net margin of 3.09%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a yield of 2.41%. Best Buy Co.’s dividend payout ratio (DPR) is presently 34.43%.
In other Best Buy Co. news, insider Kathleen Scarlett sold 10,797 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 25,690 shares of the company’s stock, valued at $1,348,468.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mathew Watson sold 1,129 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $61,733.72. Following the transaction, the vice president now directly owns 17,764 shares of the company’s stock, valued at approximately $971,335.52. The disclosure for this sale can be found here. Insiders sold 145,799 shares of company stock valued at $7,956,730 over the last 90 days. 0.84% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Managed Accounts LLC increased its stake in shares of Best Buy Co. by 18,281.8% during the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after purchasing an additional 2,011 shares in the last quarter. Huntington National Bank increased its stake in shares of Best Buy Co. by 18.4% during the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after purchasing an additional 318 shares in the last quarter. Fieldpoint Private Securities LLC bought a new position in shares of Best Buy Co. during the third quarter valued at approximately $139,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Best Buy Co. by 6.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after purchasing an additional 163 shares in the last quarter. Finally, Smithfield Trust Co. bought a new position in shares of Best Buy Co. during the third quarter valued at approximately $178,000. 86.50% of the stock is owned by institutional investors and hedge funds.
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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