Best Buy (NYSE:BBY) posted its earnings results on Thursday. The technology retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.26, MarketWatch Earnings reports. Best Buy had a return on equity of 49.17% and a net margin of 3.53%. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year.
Shares of NYSE:BBY opened at $77.98 on Friday. Best Buy has a 12-month low of $48.10 and a 12-month high of $91.99. The company has a market capitalization of $21.00 billion, a PE ratio of 13.42, a PEG ratio of 2.33 and a beta of 1.50. The business has a 50 day moving average of $70.54 and a two-hundred day moving average of $77.83. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 0.98.
In other news, CAO Mathew Watson sold 603 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $56.89, for a total value of $34,304.67. Following the completion of the sale, the chief accounting officer now directly owns 20,137 shares in the company, valued at $1,145,593.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd G. Hartman sold 1,179 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $67.97, for a total value of $80,136.63. Following the completion of the sale, the insider now owns 23,706 shares of the company’s stock, valued at $1,611,296.82. The disclosure for this sale can be found here. Insiders sold 63,602 shares of company stock valued at $3,536,169 over the last three months. 0.95% of the stock is currently owned by corporate insiders.
BBY has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Best Buy from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday. Nomura upgraded Best Buy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $85.00 in a research note on Monday, May 11th. Cfra boosted their price target on Best Buy from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada restated a “buy” rating on shares of Best Buy in a research note on Monday, March 23rd. Finally, UBS Group boosted their price target on Best Buy from $74.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Best Buy has a consensus rating of “Hold” and a consensus price target of $86.62.
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 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.
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