Equities analysts expect that Best Buy Co Inc (NYSE:BBY) will post earnings of $0.85 per share for the current quarter, Zacks reports. Nine analysts have made estimates for Best Buy’s earnings, with estimates ranging from $0.79 to $0.90. Best Buy posted earnings per share of $0.78 in the same quarter last year, which indicates a positive year-over-year growth rate of 9%. The firm is expected to announce its next earnings report on Thursday, November 15th.

According to Zacks, analysts expect that Best Buy will report full year earnings of $5.11 per share for the current fiscal year, with EPS estimates ranging from $5.03 to $5.22. For the next fiscal year, analysts forecast that the firm will post earnings of $5.56 per share, with EPS estimates ranging from $5.30 to $5.96. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Best Buy.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.08. The firm had revenue of $9.38 billion during the quarter, compared to analyst estimates of $9.25 billion. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 EPS.

BBY has been the subject of several research reports. Zacks Investment Research upgraded shares of Best Buy from a “hold” rating to a “strong-buy” rating and set a $88.00 price target for the company in a research report on Tuesday, July 24th. Barclays restated a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, August 29th. Loop Capital set a $85.00 price target on shares of Best Buy and gave the company a “buy” rating in a research report on Thursday, May 24th. Morgan Stanley restated a “buy” rating on shares of Best Buy in a research report on Friday, June 8th. Finally, Wedbush set a $48.00 price target on shares of Best Buy and gave the company a “sell” rating in a research report on Sunday, May 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $79.35.

In other Best Buy news, General Counsel Keith J. Nelsen sold 33,473 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $80.38, for a total transaction of $2,690,559.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mathew Watson sold 457 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $72.54, for a total transaction of $33,150.78. Following the sale, the senior vice president now directly owns 20,241 shares in the company, valued at $1,468,282.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,809 shares of company stock worth $6,586,995. Insiders own 0.75% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY lifted its holdings in Best Buy by 1.7% during the second quarter. Metropolitan Life Insurance Co. NY now owns 40,220 shares of the technology retailer’s stock valued at $3,000,000 after purchasing an additional 680 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Best Buy by 1.1% in the second quarter. Schroder Investment Management Group now owns 65,132 shares of the technology retailer’s stock worth $4,884,000 after buying an additional 725 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Best Buy by 3.4% in the second quarter. Envestnet Asset Management Inc. now owns 22,879 shares of the technology retailer’s stock worth $1,707,000 after buying an additional 743 shares in the last quarter. Dorsey Wright & Associates lifted its holdings in shares of Best Buy by 8.2% in the second quarter. Dorsey Wright & Associates now owns 10,292 shares of the technology retailer’s stock worth $768,000 after buying an additional 776 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of Best Buy by 2.4% in the second quarter. First Citizens Bank & Trust Co. now owns 36,474 shares of the technology retailer’s stock worth $2,720,000 after buying an additional 867 shares in the last quarter. 82.10% of the stock is currently owned by institutional investors and hedge funds.

BBY opened at $79.23 on Tuesday. The stock has a market cap of $22.09 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.56. Best Buy has a fifty-two week low of $51.61 and a fifty-two week high of $84.37.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Shareholders of record on Tuesday, September 18th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, September 17th. Best Buy’s dividend payout ratio (DPR) is presently 40.72%.

Best Buy Company Profile

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

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