Best Buy (BBY) Issues Q4 Earnings Guidance
Best Buy (NYSE:BBY) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $2.48-2.58 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.58. The company issued revenue guidance of $14.4-14.8 billion, compared to the consensus revenue estimate of $14.68 billion.Best Buy also updated its FY 2019 guidance to $5.09-5.19 EPS.
A number of research analysts have recently commented on the company. Raymond James upped their price target on Best Buy from $87.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, August 29th. Credit Suisse Group upped their price target on Best Buy from $74.00 to $78.00 and gave the stock a hold rating in a report on Wednesday, August 29th. Deutsche Bank upped their price target on Best Buy from $75.00 to $76.00 and gave the stock a hold rating in a report on Wednesday, August 29th. Wedbush set a $65.00 price target on Best Buy and gave the stock a sell rating in a report on Thursday, August 23rd. Finally, Telsey Advisory Group upped their price target on Best Buy from $76.00 to $80.00 and gave the stock a market perform rating in a report on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. Best Buy has a consensus rating of Hold and a consensus target price of $79.25.
Shares of NYSE BBY opened at $62.20 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.52. The firm has a market capitalization of $18.24 billion, a P/E ratio of 14.07, a PEG ratio of 1.11 and a beta of 1.01. Best Buy has a one year low of $55.81 and a one year high of $84.37.
In related news, CFO Corie S. Barry sold 6,783 shares of the company’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $72.80, for a total value of $493,802.40. Following the completion of the transaction, the chief financial officer now directly owns 80,961 shares in the company, valued at $5,893,960.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Corie S. Barry sold 2,982 shares of the company’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $78.35, for a total value of $233,639.70. Following the completion of the transaction, the chief financial officer now owns 72,838 shares of the company’s stock, valued at $5,706,857.30. The disclosure for this sale can be found here. Insiders sold 76,711 shares of company stock valued at $6,081,426 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.
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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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