Best Buy Co., Inc. (NYSE:BBY) – Investment analysts at KeyCorp decreased their Q4 2018 earnings per share (EPS) estimates for shares of Best Buy Co. in a report issued on Tuesday. KeyCorp analyst B. Thomas now expects that the technology retailer will post earnings per share of $2.00 for the quarter, down from their previous forecast of $2.03.

Best Buy Co. (NYSE:BBY) last released its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue was up 4.8% compared to the same quarter last year.

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A number of other research analysts have also recently commented on BBY. UBS AG restated a “buy” rating and issued a $51.00 target price (up previously from $47.00) on shares of Best Buy Co. in a research note on Wednesday, May 24th. Deutsche Bank AG restated a “buy” rating and issued a $60.00 target price on shares of Best Buy Co. in a research note on Thursday, August 3rd. Zacks Investment Research cut Best Buy Co. from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Group LLC restated a “hold” rating and issued a $60.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $70.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Best Buy Co. has an average rating of “Buy” and a consensus price target of $58.92.

Best Buy Co. (NYSE BBY) traded down 0.09% on Friday, reaching $54.21. 3,131,830 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $58.38 and its 200 day moving average is $52.86. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 14.35 and a beta of 1.45. Best Buy Co. has a 52 week low of $36.51 and a 52 week high of $63.32.

Hedge funds have recently modified their holdings of the company. Independence Advisors LLC purchased a new stake in shares of Best Buy Co. during the second quarter valued at approximately $284,000. FNY Managed Accounts LLC raised its stake in shares of Best Buy Co. by 18,281.8% in the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after buying an additional 2,011 shares during the last quarter. Huntington National Bank raised its stake in shares of Best Buy Co. by 18.4% in the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after buying an additional 318 shares during the last quarter. Exane Derivatives raised its stake in shares of Best Buy Co. by 65.5% in the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after buying an additional 1,010 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Best Buy Co. during the first quarter valued at approximately $134,000. 86.43% of the stock is owned by institutional investors.

In related news, insider Asheesh Saksena sold 18,706 shares of Best Buy Co. stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $57.08, for a total value of $1,067,738.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mathew Watson sold 503 shares of Best Buy Co. stock in a transaction on Friday, June 9th. The stock was sold at an average price of $59.00, for a total value of $29,677.00. Following the completion of the sale, the vice president now directly owns 15,767 shares of the company’s stock, valued at approximately $930,253. The disclosure for this sale can be found here. Insiders sold 61,924 shares of company stock valued at $3,562,092 in the last ninety days. 1.21% of the stock is currently owned by corporate insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy Co.’s payout ratio is currently 35.88%.

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.

Earnings History and Estimates for Best Buy Co. (NYSE:BBY)

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