FY2018 Earnings Forecast for Best Buy Co., Inc. (BBY) Issued By KeyCorp

Best Buy Co., Inc. (NYSE:BBY) – KeyCorp cut their FY2018 earnings per share estimates for shares of Best Buy Co. in a report issued on Thursday. KeyCorp analyst B. Thomas now forecasts that the technology retailer will post earnings of $4.01 per share for the year, down from their previous forecast of $4.04. KeyCorp has a “Hold” rating on the stock.

A number of other analysts also recently commented on BBY. BidaskClub upgraded Best Buy Co. from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 price target on shares of Best Buy Co. in a report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $60.00 price target on shares of Best Buy Co. in a report 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 report 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 report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Best Buy Co. currently has a consensus rating of “Buy” and an average target price of $58.86.

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Best Buy Co. (NYSE BBY) traded down $0.29 during mid-day 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 firm has a market cap of $16,900.00, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Best Buy Co. has a 1-year low of $41.67 and a 1-year high of $63.32.

Best Buy Co. (NYSE:BBY) last released its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $9.32 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS.

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Best Buy Co. by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,828,752 shares of the technology retailer’s stock worth $276,833,000 after purchasing an additional 154,426 shares during the period. Bank of New York Mellon Corp boosted its stake 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 valued at $228,696,000 after buying an additional 866,787 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Best Buy Co. by 762.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock valued at $202,312,000 after buying an additional 3,119,700 shares during the period. APG Asset Management N.V. boosted its stake 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 valued at $190,263,000 after buying an additional 723,500 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Best Buy Co. by 3.5% during the 2nd quarter. LSV Asset Management now owns 2,015,293 shares of the technology retailer’s stock valued at $115,536,000 after buying an additional 69,000 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Corie S. Barry sold 3,134 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $57.26, for a total value of $179,452.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Corie S. Barry sold 3,426 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 $187,333.68. Following the completion of the transaction, the chief financial officer now directly owns 57,903 shares of the company’s stock, valued at approximately $3,166,136.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,799 shares of company stock worth $7,956,730. 0.84% of the stock is currently owned by company insiders.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a yield of 2.43%. Best Buy Co.’s dividend payout ratio (DPR) is 34.43%.

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.

Earnings History and Estimates for Best Buy Co. (NYSE:BBY)

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