Best Buy (BBY) Issues FY19 Earnings Guidance

Best Buy (NYSE:BBY) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $4.80-5.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.93. The company issued revenue guidance of $41-42 billion, compared to the consensus revenue estimate of $41.64 billion.Best Buy also updated its Q2 guidance to $0.77-0.82 EPS.

BBY opened at $75.95 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. The stock has a market capitalization of $21.28 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.06 and a beta of 0.91. Best Buy has a 12 month low of $50.29 and a 12 month high of $79.90.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, March 1st. The technology retailer reported $2.42 EPS for the quarter, beating the consensus estimate of $2.05 by $0.37. The company had revenue of $15.36 billion during the quarter, compared to analysts’ expectations of $14.52 billion. Best Buy had a return on equity of 32.68% and a net margin of 2.37%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS. sell-side analysts forecast that Best Buy will post 4.98 EPS for the current fiscal year.

BBY has been the subject of several recent analyst reports. Telsey Advisory Group cut Best Buy from an outperform rating to a market perform rating and lifted their price target for the company from $62.00 to $81.00 in a report on Thursday, January 25th. They noted that the move was a valuation call. Barclays lifted their price target on Best Buy from $80.00 to $85.00 and gave the company an overweight rating in a report on Tuesday, January 30th. ValuEngine upgraded Best Buy from a hold rating to a buy rating in a report on Friday, February 2nd. Zacks Investment Research upgraded Best Buy from a hold rating to a strong-buy rating and set a $84.00 price target for the company in a report on Friday, February 2nd. Finally, Citigroup restated a neutral rating and issued a $74.00 price target (up previously from $69.00) on shares of Best Buy in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Best Buy has a consensus rating of Hold and an average price target of $71.39.

In related news, insider Patricia H. Walker sold 8,854 shares of the business’s stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $73.63, for a total transaction of $651,920.02. Following the transaction, the insider now directly owns 26,698 shares of the company’s stock, valued at approximately $1,965,773.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia H. Walker sold 1,569 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $68.72, for a total value of $107,821.68. Following the transaction, the insider now directly owns 35,552 shares in the company, valued at $2,443,133.44. The disclosure for this sale can be found here. Insiders have sold a total of 365,639 shares of company stock worth $25,651,834 over the last three months. 0.75% of the stock is currently owned by corporate insiders.

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.

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

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