Brokerages expect Best Buy Co., Inc. (NYSE:BBY) to post $0.63 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Best Buy Co.’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.67. Best Buy Co. posted earnings per share of $0.57 during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.5%. The business is expected to issue its next quarterly earnings results before the market opens on Tuesday, August 29th.

According to Zacks, analysts expect that Best Buy Co. will report full year earnings of $3.87 per share for the current financial year, with EPS estimates ranging from $3.72 to $4.00. For the next fiscal year, analysts expect that the business will post earnings of $4.14 per share, with EPS estimates ranging from $3.41 to $4.48. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Best Buy Co..

Best Buy Co. (NYSE:BBY) last released its quarterly earnings data on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.20. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The company had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same period last year, the business posted $0.44 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year.

BBY has been the subject of a number of analyst reports. Piper Jaffray Companies raised Best Buy Co. from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $44.85 to $55.00 in a research report on Monday, March 27th. Vetr cut Best Buy Co. from a “hold” rating to a “sell” rating and set a $44.50 price target for the company. in a research report on Monday, March 27th. Bank of America Corporation raised Best Buy Co. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $58.00 in a research report on Tuesday, April 25th. Loop Capital reaffirmed a “buy” rating and issued a $58.00 price target on shares of Best Buy Co. in a research report on Tuesday, April 4th. Finally, Deutsche Bank AG raised Best Buy Co. from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Tuesday, April 11th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company. Best Buy Co. has a consensus rating of “Buy” and a consensus price target of $56.76.

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In other news, VP Mathew Watson sold 503 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 15,767 shares in the company, valued at approximately $930,253. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Keith J. Nelsen sold 55,153 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $59.01, for a total value of $3,254,578.53. Following the completion of the sale, the general counsel now owns 89,306 shares in the company, valued at $5,269,947.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,917 shares of company stock worth $7,107,375. Corporate insiders own 0.84% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Cleararc Capital Inc. increased its position in Best Buy Co. by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,644 shares of the technology retailer’s stock valued at $327,000 after buying an additional 18 shares in the last quarter. CENTRAL TRUST Co increased its position in Best Buy Co. by 1.9% in the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock valued at $304,000 after buying an additional 100 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Best Buy Co. by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,173 shares of the technology retailer’s stock valued at $844,000 after buying an additional 106 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Best Buy Co. by 2.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,538 shares of the technology retailer’s stock valued at $346,000 after buying an additional 175 shares in the last quarter. Finally, Intrust Bank NA increased its position in Best Buy Co. by 4.5% in the first quarter. Intrust Bank NA now owns 4,998 shares of the technology retailer’s stock valued at $246,000 after buying an additional 216 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Best Buy Co. (BBY) traded up 0.95% during midday trading on Tuesday, hitting $55.32. The stock had a trading volume of 3,454,541 shares. The stock has a market cap of $16.87 billion, a P/E ratio of 14.88 and a beta of 1.45. The company’s 50-day moving average price is $56.40 and its 200 day moving average price is $49.94. Best Buy Co. has a 12-month low of $32.02 and a 12-month high of $61.95. Best Buy Co. also saw unusually large options trading on Monday. Investors acquired 993 call options on the company. This is an increase of approximately 163% compared to the average daily volume of 378 call options.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.36 annualized dividend and a dividend yield of 2.48%. Best Buy Co.’s dividend payout ratio is currently 36.46%.

About Best Buy Co.

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

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