Best Buy (BBY) Releases Q4 2019 Earnings Guidance
Best Buy (NYSE:BBY) updated its fourth quarter 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.48-2.58 for the period, compared to the Thomson Reuters consensus 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.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Best Buy from a buy rating to a hold rating in a research note on Wednesday, November 14th. Telsey Advisory Group raised their target price on shares of 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 raised their target price on shares of 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. raised their target price on shares of 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 target price on shares of Best Buy and gave the company a sell rating in a research note on Thursday, August 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $79.25.
NYSE BBY opened at $62.20 on Tuesday. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.11 and a beta of 1.01. Best Buy has a 12-month low of $55.81 and a 12-month 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 related news, CFO Corie S. Barry sold 6,783 shares of the firm’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $72.80, for a total transaction of $493,802.40. Following the completion of the transaction, the chief financial officer now owns 80,961 shares of the company’s stock, valued at $5,893,960.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patricia H. Walker sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $77.66, for a total transaction of $388,300.00. Following the transaction, the insider now directly owns 21,698 shares of the company’s stock, valued at approximately $1,685,066.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,711 shares of company stock valued at $6,081,426. Corporate insiders own 0.75% of the company’s stock.
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About Best Buy
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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