$2.02 Earnings Per Share Expected for Best Buy Co Inc (BBY) This Quarter
Wall Street brokerages predict that Best Buy Co Inc (NYSE:BBY) will announce earnings per share (EPS) of $2.02 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Best Buy’s earnings, with the highest EPS estimate coming in at $2.16 and the lowest estimate coming in at $1.92. Best Buy reported earnings per share of $1.95 during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, March 1st.
According to Zacks, analysts expect that Best Buy will report full-year earnings of $4.04 per share for the current year, with EPS estimates ranging from $3.93 to $4.17. For the next year, analysts anticipate that the business will post earnings of $4.65 per share, with EPS estimates ranging from $4.20 to $5.22. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Best Buy.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter last year, the company earned $0.60 earnings per share. Best Buy’s revenue for the quarter was up 4.2% on a year-over-year basis.
Shares of Best Buy (NYSE BBY) traded up $1.97 during trading hours on Friday, reaching $70.76. 3,390,000 shares of the company’s stock traded hands, compared to its average volume of 3,340,000. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. Best Buy has a one year low of $41.67 and a one year high of $78.59. The firm has a market capitalization of $21,280.00, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11.
In other news, insider Shari L. Ballard sold 40,018 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the completion of the sale, the insider now owns 99,304 shares of the company’s stock, valued at $5,578,898.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $58.80, for a total transaction of $58,800,000.00. The disclosure for this sale can be found here. Insiders have sold 3,134,253 shares of company stock valued at $191,063,125 in the last three months. Corporate insiders own 1.21% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC acquired a new position in Best Buy in the third quarter worth $139,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Best Buy by 232.8% in the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock worth $139,000 after purchasing an additional 1,420 shares during the period. Smithfield Trust Co. acquired a new position in Best Buy in the third quarter worth $178,000. Squar Milner Financial Services LLC acquired a new position in Best Buy in the fourth quarter worth $201,000. Finally, Harbour Capital Advisors LLC acquired a new position in Best Buy in the fourth quarter worth $205,000. 88.70% of the stock is owned by institutional investors and hedge funds.
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About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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