Best Buy (NYSE:BBY) is set to issue its quarterly earnings data before the market opens on Thursday, May 23rd. Analysts expect the company to announce earnings of $0.88 per share for the quarter. Best Buy has set its Q1 guidance at $0.83-0.88 EPS and its FY20 guidance at $5.45-5.65 EPS.
Best Buy (NYSE:BBY) last posted its quarterly earnings results on Wednesday, February 27th. The technology retailer reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.15. The firm had revenue of $14.80 billion for the quarter, compared to analyst estimates of $14.69 billion. Best Buy had a net margin of 3.41% and a return on equity of 46.33%. Best Buy’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 earnings per share. On average, analysts expect Best Buy to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
BBY opened at $67.86 on Thursday. The stock has a market cap of $17.98 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.35 and a beta of 0.94. Best Buy has a twelve month low of $47.72 and a twelve month high of $84.37. The company has a current ratio of 1.18, a quick ratio of 0.46 and a debt-to-equity ratio of 0.40.
Best Buy declared that its board has authorized a share repurchase program on Wednesday, February 27th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the technology retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
BBY has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Best Buy from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Wedbush restated a “neutral” rating and set a $65.00 price target on shares of Best Buy in a research report on Friday, February 22nd. Bank of America upgraded shares of Best Buy from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research report on Wednesday, February 27th. ValuEngine upgraded shares of Best Buy from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $74.00 price target (up from $67.00) on shares of Best Buy in a research report on Thursday, February 28th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $77.88.
In other Best Buy news, major shareholder Richard M. Schulze sold 25,443 shares of Best Buy stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $68.22, for a total transaction of $1,735,721.46. Following the transaction, the insider now directly owns 1,732,500 shares of the company’s stock, valued at $118,191,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajendra M. Mohan sold 30,000 shares of Best Buy stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $73.92, for a total transaction of $2,217,600.00. The disclosure for this sale can be found here. Insiders have sold 1,443,734 shares of company stock worth $100,145,966 over the last ninety days. 0.95% of the stock is owned by insiders.
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Best Buy Company Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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