Best Buy (BBY) Projected to Post Earnings on Tuesday

Best Buy (NYSE:BBY) is anticipated to release its earnings data before the market opens on Tuesday, March 4th. Analysts expect Best Buy to post earnings of $2.39 per share and revenue of $13.69 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. On average, analysts expect Best Buy to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Best Buy Price Performance

Shares of NYSE BBY opened at $88.69 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The stock has a market cap of $18.96 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.10 and a beta of 1.43. The company’s 50-day moving average price is $86.10 and its 200 day moving average price is $90.47. Best Buy has a 52 week low of $69.29 and a 52 week high of $103.71.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BBY shares. JPMorgan Chase & Co. lifted their price objective on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Loop Capital reissued a “buy” rating and issued a $100.00 price target on shares of Best Buy in a report on Wednesday, December 18th. UBS Group decreased their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley cut their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, Guggenheim decreased their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone 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 products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.