Best Buy (BBY) to Release Earnings on Tuesday

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

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same period last year, the business earned $1.29 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. 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 Stock Down 1.2 %

Best Buy stock opened at $88.69 on Tuesday. The company has a market capitalization of $18.96 billion, a P/E ratio of 15.16, a PEG ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. Best Buy has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The stock has a 50-day simple moving average of $86.10 and a 200-day simple moving average of $90.47.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BBY. Loop Capital reiterated a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a research note on Wednesday, December 18th. Telsey Advisory Group reduced their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. UBS Group lowered their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Citigroup dropped their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

About Best Buy

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.