Analysts Anticipate Best Buy Co Inc (BBY) to Announce $0.85 EPS
Wall Street brokerages predict that Best Buy Co Inc (NYSE:BBY) will announce earnings per share (EPS) of $0.85 for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Best Buy’s earnings, with estimates ranging from $0.79 to $0.90. Best Buy reported earnings per share of $0.78 during the same quarter last year, which would suggest a positive year over year growth rate of 9%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 15th.
According to Zacks, analysts expect that Best Buy will report full year earnings of $5.11 per share for the current financial year, with EPS estimates ranging from $5.03 to $5.22. For the next financial year, analysts forecast that the business will report earnings of $5.56 per share, with EPS estimates ranging from $5.30 to $5.96. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Best Buy.
Best Buy (NYSE:BBY) last released its earnings results on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.08. Best Buy had a return on equity of 40.28% and a net margin of 2.44%. The business had revenue of $9.38 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year.
In other Best Buy news, General Counsel Keith J. Nelsen sold 33,473 shares of Best Buy stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $80.38, for a total value of $2,690,559.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mathew Watson sold 457 shares of Best Buy stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $72.54, for a total value of $33,150.78. Following the completion of the transaction, the senior vice president now owns 20,241 shares in the company, valued at approximately $1,468,282.14. The disclosure for this sale can be found here. Insiders sold 83,809 shares of company stock worth $6,586,995 in the last quarter. 0.75% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Bristol John W & Co. Inc. NY purchased a new position in Best Buy in the first quarter valued at about $129,000. LFA Lugano Financial Advisors SA purchased a new position in Best Buy in the second quarter valued at about $174,000. Private Capital Group LLC grew its stake in Best Buy by 850.7% in the first quarter. Private Capital Group LLC now owns 2,852 shares of the technology retailer’s stock valued at $201,000 after purchasing an additional 2,552 shares during the last quarter. Squar Milner Financial Services LLC purchased a new position in Best Buy in the second quarter valued at about $201,000. Finally, Capital Investment Advisors LLC purchased a new position in Best Buy in the second quarter valued at about $210,000. Institutional investors own 82.10% of the company’s stock.
NYSE:BBY opened at $78.19 on Tuesday. Best Buy has a twelve month low of $51.61 and a twelve month high of $84.37. The firm has a market cap of $21.85 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.98. The company has a quick ratio of 0.56, a current ratio of 1.21 and a debt-to-equity ratio of 0.25.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 9th. Shareholders of record on Tuesday, September 18th will be paid a $0.45 dividend. The ex-dividend date is Monday, September 17th. This represents a $1.80 annualized dividend and a yield of 2.30%. Best Buy’s dividend payout ratio (DPR) is presently 40.72%.
About Best Buy
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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