Equities research analysts expect Best Buy Co Inc (NYSE:BBY) to post earnings of $0.99 per share for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Best Buy’s earnings, with the highest EPS estimate coming in at $1.02 and the lowest estimate coming in at $0.97. Best Buy reported earnings per share of $0.91 in the same quarter last year, which suggests a positive year over year growth rate of 8.8%. The company is scheduled to report its next earnings results before the market opens on Thursday, August 29th.

According to Zacks, analysts expect that Best Buy will report full-year earnings of $5.75 per share for the current fiscal year, with EPS estimates ranging from $5.61 to $5.95. For the next year, analysts anticipate that the company will report earnings of $6.09 per share, with EPS estimates ranging from $5.76 to $6.38. Zacks’ EPS averages are an average based on a survey of research analysts that follow Best Buy.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 23rd. The technology retailer reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.14. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.14 billion. Best Buy had a return on equity of 47.91% and a net margin of 3.54%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm earned $0.82 earnings per share.

A number of equities analysts recently commented on BBY shares. Goldman Sachs Group started coverage on Best Buy in a research note on Thursday, July 11th. They issued a “neutral” rating and a $73.00 price target for the company. Cleveland Research reiterated a “neutral” rating on shares of Best Buy in a research note on Tuesday, June 18th. Wedbush set a $71.00 price target on Best Buy and gave the stock a “hold” rating in a research note on Friday, May 24th. Telsey Advisory Group reiterated a “market perform” rating on shares of Best Buy in a research note on Thursday, July 25th. Finally, Zacks Investment Research downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.67.

NYSE:BBY traded down $1.55 during mid-day trading on Friday, reaching $67.36. The stock had a trading volume of 1,527,095 shares, compared to its average volume of 2,467,038. The stock has a market cap of $18.40 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. Best Buy has a 1-year low of $47.72 and a 1-year high of $84.37. The business has a 50 day simple moving average of $72.15. The company has a quick ratio of 0.39, a current ratio of 1.12 and a debt-to-equity ratio of 1.00.

In other Best Buy news, major shareholder Richard M. Schulze sold 430,600 shares of Best Buy stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $75.26, for a total value of $32,406,956.00. Following the completion of the transaction, the insider now directly owns 1,732,500 shares in the company, valued at $130,387,950. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathleen Scarlett sold 2,694 shares of Best Buy stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $64.33, for a total value of $173,305.02. Following the completion of the transaction, the insider now owns 30,044 shares of the company’s stock, valued at $1,932,730.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,991,971 shares of company stock valued at $140,642,341. 0.95% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new stake in shares of Best Buy during the second quarter valued at approximately $27,000. Advisors Preferred LLC bought a new stake in shares of Best Buy during the second quarter valued at approximately $27,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Best Buy during the first quarter valued at approximately $34,000. Braun Bostich & Associates Inc. bought a new stake in shares of Best Buy during the first quarter valued at approximately $40,000. Finally, NEXT Financial Group Inc raised its holdings in shares of Best Buy by 67.2% during the second quarter. NEXT Financial Group Inc now owns 667 shares of the technology retailer’s stock valued at $47,000 after buying an additional 268 shares during the last quarter. 78.48% of the stock is currently owned by institutional investors.

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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

Featured Story: How is diluted EPS different from basic EPS?

Get a free copy of the Zacks research report on Best Buy (BBY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.