Best Buy (NYSE:BBY) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.77-0.82 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.81. The company issued revenue guidance of $9.1-9.2 billion, compared to the consensus revenue estimate of $9.00 billion.Best Buy also updated its FY19 guidance to $4.80-5.00 EPS.
Shares of BBY stock opened at $70.90 on Friday. Best Buy has a one year low of $51.61 and a one year high of $79.90. The company has a market capitalization of $21.41 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.07 and a beta of 0.91. The company has a current ratio of 1.26, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22.
Get Best Buy alerts:Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 24th. The technology retailer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.75 billion. Best Buy had a return on equity of 32.68% and a net margin of 2.37%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. sell-side analysts anticipate that Best Buy will post 4.98 EPS for the current fiscal year.
A number of equities analysts have issued reports on BBY shares. Zacks Investment Research upgraded Best Buy from a hold rating to a strong-buy rating and set a $84.00 price target on the stock in a report on Friday, February 2nd. Barclays increased their price target on Best Buy from $80.00 to $85.00 and gave the stock an overweight rating in a report on Tuesday, January 30th. ValuEngine upgraded Best Buy from a hold rating to a buy rating in a report on Friday, February 2nd. Piper Jaffray Companies increased their price target on Best Buy from $68.00 to $83.00 and gave the stock an overweight rating in a report on Monday, February 26th. Finally, Citigroup restated a neutral rating and set a $74.00 price target (up from $69.00) on shares of Best Buy in a report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Best Buy has an average rating of Hold and an average price target of $71.50.
In related news, insider Patricia H. Walker sold 1,569 shares of the stock in a transaction on Monday, March 19th. The stock was sold at an average price of $68.72, for a total value of $107,821.68. Following the completion of the sale, the insider now directly owns 35,552 shares of the company’s stock, valued at approximately $2,443,133.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shari L. Ballard sold 3,475 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $72.45, for a total value of $251,763.75. Following the completion of the sale, the insider now directly owns 116,785 shares of the company’s stock, valued at $8,461,073.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 365,639 shares of company stock worth $25,651,834. 0.75% of the stock is owned by company insiders.
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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