Zacks: Analysts Anticipate Best Buy Co., Inc. (NYSE:BBY) to Post $1.56 EPS

Brokerages predict that Best Buy Co., Inc. (NYSE:BBYGet Rating) will report earnings per share (EPS) of $1.56 for the current quarter, according to Zacks. Ten analysts have issued estimates for Best Buy’s earnings. The lowest EPS estimate is $0.90 and the highest is $1.80. Best Buy posted earnings per share of $2.23 in the same quarter last year, which suggests a negative year-over-year growth rate of 30%. The company is scheduled to announce its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Best Buy will report full-year earnings of $8.95 per share for the current fiscal year, with EPS estimates ranging from $8.72 to $9.11. For the next year, analysts expect that the company will post earnings of $10.55 per share, with EPS estimates ranging from $9.40 to $11.07. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Best Buy.

Best Buy (NYSE:BBYGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The technology retailer reported $2.73 EPS for the quarter, hitting the consensus estimate of $2.73. Best Buy had a net margin of 4.74% and a return on equity of 63.23%. The business had revenue of $16.37 billion for the quarter, compared to analyst estimates of $16.54 billion. During the same period in the previous year, the firm earned $3.48 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year.

BBY has been the topic of several recent research reports. Citigroup decreased their price objective on shares of Best Buy from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday. Telsey Advisory Group cut their target price on shares of Best Buy from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, February 28th. Raymond James lowered shares of Best Buy from an “outperform” rating to a “market perform” rating in a report on Friday, March 4th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Best Buy from $134.00 to $107.00 and set a “buy” rating on the stock in a report on Monday, February 28th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $118.00.

In other news, CAO Mathew Watson sold 2,331 shares of the stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $99.06, for a total transaction of $230,908.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd G. Hartman sold 1,188 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $95.72, for a total transaction of $113,715.36. Following the completion of the transaction, the insider now owns 34,513 shares in the company, valued at approximately $3,303,584.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,955 shares of company stock worth $3,662,097. Insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SVB Wealth LLC raised its holdings in Best Buy by 9,483.7% in the first quarter. SVB Wealth LLC now owns 235,087 shares of the technology retailer’s stock valued at $21,370,000 after buying an additional 232,634 shares during the period. Ontario Teachers Pension Plan Board grew its position in Best Buy by 236.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 20,819 shares of the technology retailer’s stock valued at $1,892,000 after acquiring an additional 14,625 shares in the last quarter. Northern Trust Corp grew its position in Best Buy by 4.8% in the first quarter. Northern Trust Corp now owns 3,672,121 shares of the technology retailer’s stock valued at $333,796,000 after acquiring an additional 168,940 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in Best Buy in the first quarter valued at approximately $279,000. Finally, Charles Schwab Investment Management Inc. grew its position in Best Buy by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,720,949 shares of the technology retailer’s stock valued at $338,235,000 after acquiring an additional 236,513 shares in the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.

Best Buy stock opened at $86.36 on Friday. Best Buy has a 52 week low of $83.38 and a 52 week high of $141.97. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $94.53 and its 200 day simple moving average is $102.71. The firm has a market capitalization of $19.43 billion, a PE ratio of 8.78, a P/E/G ratio of 0.99 and a beta of 1.42.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 24th were issued a dividend of $0.88 per share. This is a positive change from Best Buy’s previous quarterly dividend of $0.70. This represents a $3.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Wednesday, March 23rd. Best Buy’s dividend payout ratio is presently 35.77%.

Best Buy Company Profile (Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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

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