Zacks: Analysts Expect Best Buy Co Inc (BBY) to Post $0.85 EPS

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Analysts forecast that Best Buy Co Inc (NYSE:BBY) will announce $0.85 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Best Buy’s earnings, with estimates ranging from $0.79 to $0.90. Best Buy reported earnings of $0.78 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, November 20th.

On average, analysts expect that Best Buy will report full year earnings of $5.11 per share for the current year, with EPS estimates ranging from $5.03 to $5.22. For the next fiscal year, analysts anticipate that the company will report earnings of $5.57 per share, with EPS estimates ranging from $5.30 to $5.96. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Best Buy.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.08. The company had revenue of $9.38 billion for the quarter, compared to analyst estimates of $9.25 billion. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. Best Buy’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS.

A number of equities analysts have weighed in on BBY shares. Zacks Investment Research lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group started coverage on shares of Best Buy in a report on Tuesday, August 21st. They issued a “hold” rating and a $79.00 price target on the stock. Wells Fargo & Co reiterated a “hold” rating and issued a $78.00 price target on shares of Best Buy in a report on Tuesday, August 28th. Morgan Stanley lifted their price target on shares of Best Buy from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, August 29th. Finally, Barclays reiterated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $80.63.

In other news, CFO Corie S. Barry sold 6,783 shares of the firm’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $72.80, for a total value of $493,802.40. Following the transaction, the chief financial officer now owns 80,961 shares of the company’s stock, valued at approximately $5,893,960.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Corie S. Barry sold 2,982 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $78.35, for a total transaction of $233,639.70. Following the completion of the transaction, the chief financial officer now directly owns 72,838 shares in the company, valued at approximately $5,706,857.30. The disclosure for this sale can be found here. In the last three months, insiders sold 76,711 shares of company stock worth $6,081,426. Insiders own 0.75% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new stake in Best Buy during the 2nd quarter worth $174,000. Squar Milner Financial Services LLC purchased a new stake in Best Buy during the 2nd quarter worth $201,000. Capital Investment Advisors LLC purchased a new stake in Best Buy during the 2nd quarter worth $210,000. RFG Advisory Group LLC purchased a new stake in Best Buy during the 2nd quarter worth $210,000. Finally, Courier Capital LLC purchased a new stake in Best Buy during the 2nd quarter worth $217,000. 85.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of BBY traded up $1.08 during mid-day trading on Friday, reaching $72.76. The company had a trading volume of 150,725 shares, compared to its average volume of 3,173,586. The firm has a market cap of $19.74 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. Best Buy has a fifty-two week low of $52.92 and a fifty-two week high of $84.37. The company has a quick ratio of 0.52, a current ratio of 1.21 and a debt-to-equity ratio of 0.25.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 9th. Stockholders of record on Tuesday, September 18th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Monday, September 17th. Best Buy’s dividend payout ratio is presently 40.72%.

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 consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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