Best Buy Co., Inc. (NYSE:BBY) – Equities research analysts at Oppenheimer Holdings lifted their FY2018 earnings per share estimates for shares of Best Buy Co. in a report issued on Tuesday. Oppenheimer Holdings analyst B. Nagel now forecasts that the technology retailer will post earnings of $3.99 per share for the year, up from their previous estimate of $3.72. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Best Buy Co.’s FY2019 earnings at $4.20 EPS.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The business had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This news story was reported by BBNS and is the sole property of of BBNS. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://baseballnewssource.com/markets/fy2018-earnings-estimate-for-best-buy-co-inc-issued-by-oppenheimer-holdings-bby/1565235.html.
A number of other brokerages have also weighed in on BBY. BidaskClub raised shares of Best Buy Co. from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Barclays PLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Best Buy Co. in a report on Monday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $70.00 price target on shares of Best Buy Co. in a report on Wednesday, August 23rd. ValuEngine lowered shares of Best Buy Co. from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Finally, Telsey Advisory Group upped their price target on shares of Best Buy Co. from $53.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, May 26th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Best Buy Co. currently has an average rating of “Buy” and a consensus target price of $58.25.
Best Buy Co. (NYSE:BBY) traded down 0.26% on Wednesday, reaching $54.05. The company’s stock had a trading volume of 3,773,595 shares. The company’s 50 day moving average price is $58.19 and its 200-day moving average price is $52.51. The stock has a market cap of $16.44 billion, a PE ratio of 14.30 and a beta of 1.45. Best Buy Co. has a 12-month low of $36.51 and a 12-month high of $63.32.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.36 annualized dividend and a dividend yield of 2.51%. Best Buy Co.’s dividend payout ratio (DPR) is presently 35.88%.
In related news, VP Mathew Watson sold 503 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $59.00, for a total transaction of $29,677.00. Following the completion of the transaction, the vice president now owns 15,767 shares in the company, valued at approximately $930,253. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shari L. Ballard sold 2,246 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $134,580.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,924 shares of company stock valued at $3,562,092. Insiders own 1.21% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BBY. Independence Advisors LLC acquired a new stake in Best Buy Co. during the second quarter worth approximately $284,000. FNY Managed Accounts LLC increased its stake in Best Buy Co. by 18,281.8% in the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after buying an additional 2,011 shares during the last quarter. Huntington National Bank increased its stake in Best Buy Co. by 18.4% in the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after buying an additional 318 shares during the last quarter. Exane Derivatives increased its stake in Best Buy Co. by 65.5% in the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after buying an additional 1,010 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Best Buy Co. during the first quarter worth approximately $134,000. Institutional investors own 86.43% of the company’s stock.
Best Buy Co. Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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