Best Buy (BBY) Projected to Post Quarterly Earnings on Tuesday

Best Buy (NYSE:BBY - Get Free Report) will likely be releasing its earnings data before the market opens on Tuesday, March 4th. Analysts expect Best Buy to post earnings of $2.39 per share and revenue of $13.69 billion for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. Best Buy's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 earnings per share. On average, analysts expect Best Buy to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Best Buy Stock Performance

NYSE BBY traded up $1.43 during midday trading on Friday, hitting $90.05. The company had a trading volume of 3,352,627 shares, compared to its average volume of 2,512,141. The firm has a fifty day simple moving average of $86.31 and a two-hundred day simple moving average of $90.50. Best Buy has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 2.10 and a beta of 1.43.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BBY. JPMorgan Chase & Co. boosted their price target on Best Buy from $111.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. StockNews.com lowered Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Citigroup cut their target price on Best Buy from $109.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Telsey Advisory Group reiterated an "outperform" rating and set a $110.00 price target on shares of Best Buy in a research note on Thursday. Finally, UBS Group restated a "buy" rating on shares of Best Buy in a research note on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Best Buy presently has an average rating of "Moderate Buy" and an average target price of $101.72.

Insider Buying and Selling at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.59% of the company's stock.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.