Best Buy Co Inc (NYSE:BBY) – Stock analysts at Wedbush boosted their Q1 2019 EPS estimates for shares of Best Buy in a note issued to investors on Monday. Wedbush analyst M. Pachter now anticipates that the technology retailer will post earnings per share of $0.73 for the quarter, up from their prior estimate of $0.61. Wedbush currently has a “Sell” rating and a $38.00 target price on the stock. Wedbush also issued estimates for Best Buy’s Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.94 EPS, Q4 2019 earnings at $2.33 EPS and FY2019 earnings at $4.79 EPS.
Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. Best Buy’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share.
Shares of Best Buy (BBY) traded up $0.56 during trading hours on Wednesday, reaching $70.34. The company’s stock had a trading volume of 2,741,125 shares, compared to its average volume of 3,810,000. The stock has a market capitalization of $20,560.00, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. Best Buy has a fifty-two week low of $41.67 and a fifty-two week high of $70.87.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dalton Greiner Hartman Maher & Co. bought a new stake in Best Buy during the 4th quarter valued at approximately $231,000. Sit Investment Associates Inc. raised its stake in Best Buy by 783,437.5% during the 4th quarter. Sit Investment Associates Inc. now owns 188,049 shares of the technology retailer’s stock valued at $12,876,000 after purchasing an additional 188,025 shares during the period. Prudential Financial Inc. raised its stake in Best Buy by 19.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,053,380 shares of the technology retailer’s stock valued at $60,001,000 after purchasing an additional 173,903 shares during the period. Parametric Portfolio Associates LLC raised its stake in Best Buy by 2.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,396,332 shares of the technology retailer’s stock valued at $79,535,000 after purchasing an additional 30,414 shares during the period. Finally, TrimTabs Asset Management LLC raised its stake in Best Buy by 17.1% during the 3rd quarter. TrimTabs Asset Management LLC now owns 6,767 shares of the technology retailer’s stock valued at $385,000 after purchasing an additional 990 shares during the period. 88.45% of the stock is currently owned by institutional investors.
In other news, General Counsel Keith J. Nelsen sold 44,235 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $56.78, for a total value of $2,511,663.30. Following the transaction, the general counsel now owns 107,503 shares of the company’s stock, valued at $6,104,020.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $58.80, for a total value of $58,800,000.00. The disclosure for this sale can be found here. Insiders sold 3,134,253 shares of company stock worth $191,063,125 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, December 6th. Best Buy’s dividend payout ratio (DPR) is currently 34.43%.
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Best Buy 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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