Best Buy (BBY) Releases FY 2019 Earnings Guidance
Best Buy (NYSE:BBY) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.09-5.19 for the period, compared to the Thomson Reuters consensus estimate of $5.11. The company issued revenue guidance of $42.5-42.9 billion, compared to the consensus revenue estimate of $42.76 billion.Best Buy also updated its FY19 guidance to $5.09-5.19 EPS.
A number of brokerages recently commented on BBY. Zacks Investment Research lowered Best Buy from a buy rating to a hold rating in a research note on Wednesday, November 14th. Telsey Advisory Group increased their price target on Best Buy from $76.00 to $80.00 and gave the company a market perform rating in a research note on Wednesday, August 29th. Deutsche Bank increased their price target on Best Buy from $75.00 to $76.00 and gave the company a hold rating in a research note on Wednesday, August 29th. JPMorgan Chase & Co. increased their price target on Best Buy from $76.00 to $79.00 and gave the company a neutral rating in a research note on Wednesday, August 29th. Finally, Wedbush set a $65.00 price target on Best Buy and gave the company a sell rating in a research note on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $79.25.
Shares of NYSE:BBY traded up $1.88 during trading on Tuesday, hitting $64.08. The company had a trading volume of 2,268,318 shares, compared to its average volume of 3,677,863. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 14.50, 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. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.52.
In other news, SVP Mathew Watson sold 2,131 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $77.88, for a total value of $165,962.28. Following the sale, the senior vice president now directly owns 18,131 shares in the company, valued at $1,412,042.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Asheesh Saksena sold 26,309 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $80.07, for a total value of $2,106,561.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,711 shares of company stock worth $6,081,426. Company insiders own 0.75% of the company’s stock.
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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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