Best Buy Co., Inc. (NYSE:BBY) – Equities research analysts at Oppenheimer Holdings decreased their Q4 2018 earnings per share estimates for Best Buy Co. in a note issued to investors on Thursday. Oppenheimer Holdings analyst B. Nagel now forecasts that the technology retailer will earn $1.97 per share for the quarter, down from their previous estimate of $2.00. Oppenheimer Holdings has a “Hold” rating on the stock.
Best Buy Co. (NYSE:BBY) last released its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.78. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy Co. had a return on equity of 22.46% and a net margin of 2.55%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share.
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A number of other equities analysts have also weighed in on BBY. BidaskClub upgraded Best Buy Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies restated a “buy” rating and set a $70.00 price objective on shares of Best Buy Co. in a research note on Thursday, August 3rd. Deutsche Bank AG restated a “buy” rating and set a $60.00 price objective on shares of Best Buy Co. in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 price target on shares of Best Buy Co. in a research note on Wednesday, August 9th. Finally, Loop Capital reiterated a “buy” rating and issued a $72.00 price target on shares of Best Buy Co. in a research note on Wednesday, August 16th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $58.86.
Shares of Best Buy Co. (NYSE BBY) traded down $0.29 during midday trading on Monday, hitting $56.06. The stock had a trading volume of 3,196,446 shares, compared to its average volume of 4,478,116. The company has a market capitalization of $16,900.00, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.16 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. Best Buy Co. has a one year low of $41.67 and a one year high of $63.32.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be paid a $0.34 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.43%. Best Buy Co.’s payout ratio is presently 34.43%.
In other news, CEO Hubert Joly sold 106,942 shares of the business’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 value of $5,847,588.56. Following the transaction, the chief executive officer now owns 645,222 shares in the company, valued at approximately $35,280,738.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kathleen Scarlett sold 10,797 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total value of $566,734.53. Following the completion of the transaction, the insider now owns 25,690 shares in the company, valued at approximately $1,348,468.10. The disclosure for this sale can be found here. Insiders sold a total of 145,799 shares of company stock worth $7,956,730 in the last 90 days. Company insiders own 0.84% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BBY. FNY Managed Accounts LLC lifted its stake in Best Buy Co. by 18,281.8% in the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after purchasing an additional 2,011 shares during the last quarter. Huntington National Bank lifted its stake in Best Buy Co. by 18.4% in the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after purchasing an additional 318 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new position in Best Buy Co. in the third quarter valued at approximately $139,000. Northwestern Mutual Wealth Management Co. lifted its stake in Best Buy Co. by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after purchasing an additional 163 shares during the last quarter. Finally, Smithfield Trust Co. purchased a new position in Best Buy Co. in the third quarter valued at approximately $178,000. Institutional investors and hedge funds own 86.50% of the company’s stock.
Best Buy Co. Company Profile
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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