Best Buy Co., Inc. (NYSE:BBY) – Jefferies Group raised their FY2018 earnings per share (EPS) estimates for shares of Best Buy Co. in a research note issued on Monday. Jefferies Group analyst D. Binder now anticipates that the technology retailer will post earnings of $4.06 per share for the year, up from their previous estimate of $4.02. Jefferies Group has a “Hold” rating and a $60.00 price objective on the stock. Jefferies Group also issued estimates for Best Buy Co.’s Q1 2019 earnings at $0.65 EPS, Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $2.14 EPS, FY2019 earnings at $4.24 EPS, FY2021 earnings at $4.72 EPS and FY2022 earnings at $5.11 EPS.
Several other research firms have also recently weighed in on BBY. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a research report on Tuesday, August 29th. BidaskClub upgraded Best Buy Co. from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Barclays PLC restated a “buy” rating and set a $65.00 target price on shares of Best Buy Co. in a report on Monday, August 28th. Piper Jaffray Companies restated a “buy” rating and set a $70.00 target price on shares of Best Buy Co. in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG restated a “buy” rating and set a $60.00 target price on shares of Best Buy Co. in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $58.97.
Best Buy Co. (NYSE BBY) traded up $0.29 on Tuesday, reaching $56.97. The company had a trading volume of 3,958,200 shares, compared to its average volume of 4,421,985. Best Buy Co. has a twelve month low of $38.56 and a twelve month high of $63.32. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30. The company has a market cap of $16,957.78, a PE ratio of 14.68, a PEG ratio of 1.14 and a beta of 1.42.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The business had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis.
In related news, VP Mathew Watson sold 1,129 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $61,733.72. Following the completion of the transaction, the vice president now owns 17,764 shares of the company’s stock, valued at approximately $971,335.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shari L. Ballard sold 2,246 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $134,580.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 166,259 shares of company stock valued at $9,182,693. 0.84% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of BBY. Renaissance Technologies LLC boosted its holdings in Best Buy Co. by 762.4% in the second quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock valued at $202,312,000 after purchasing an additional 3,119,700 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Best Buy Co. by 27.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after buying an additional 866,787 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Best Buy Co. by 125.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock worth $79,563,000 after buying an additional 772,200 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Best Buy Co. by 27.6% during the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after buying an additional 723,500 shares during the last quarter. Finally, 1060 Capital LLC acquired a new stake in shares of Best Buy Co. during the 3rd quarter worth approximately $35,849,000. 87.52% of the stock is owned by institutional investors.
About Best Buy Co.
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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