Best Buy Co. Rating Reiterated by Citigroup Inc. (BBY)
Best Buy Co. (NYSE:BBY)‘s stock had its “buy” rating restated by research analysts at Citigroup Inc. in a report released on Friday, Analyst Ratings.Net reports. They currently have a $31.00 price target on the stock, down from their previous price target of $48.00. Citigroup Inc.’s target price suggests a potential upside of 26.89% from the stock’s previous close.
A number of other firms have also recently commented on BBY. Analysts at Bank of America Corp. upgraded shares of Best Buy Co. to a “buy” rating in a research note to investors on Thursday. Separately, analysts at KeyCorp cut their EPS estimates on shares of Best Buy Co. in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at UBS AG downgraded shares of Best Buy Co. from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $29.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.74.
Shares of Best Buy Co. (NYSE:BBY) traded down 8.95% during mid-day trading on Friday, hitting $24.43. 60,431,056 shares of the company’s stock traded hands. Best Buy Co. has a 52 week low of $13.83 and a 52 week high of $44.66. The stock has a 50-day moving average of $39.29 and a 200-day moving average of $37.09. The company’s market cap is $8.453 billion. Best Buy Co. also saw unusually large options trading on Tuesday. Traders acquired 46,371 call options on the company. This represents an increase of approximately 184% compared to the average daily volume of 16,326 call options.
Best Buy Co. (NYSE:BBY) last announced its earnings results on Tuesday, November 19th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The company had revenue of $9.36 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts predict that Best Buy Co. will post $2.27 earnings per share for the current fiscal year.
Best Buy Co, Inc is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.