Best Buy (NYSE:BBY) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Best Buy (NYSE:BBY) posted its quarterly earnings data on Monday. The technology retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.13, MarketWatch Earnings reports. Best Buy had a net margin of 4.85% and a return on equity of 64.85%. The business had revenue of $11.91 billion during the quarter, compared to the consensus estimate of $11.62 billion. During the same period in the prior year, the firm earned $2.06 EPS. Best Buy’s quarterly revenue was up .5% compared to the same quarter last year.

Shares of NYSE:BBY opened at $116.69 on Thursday. Best Buy has a 12 month low of $95.93 and a 12 month high of $141.97. The company’s 50-day moving average price is $118.06 and its two-hundred day moving average price is $115.49. The company has a quick ratio of 0.54, a current ratio of 1.16 and a debt-to-equity ratio of 0.29. The firm has a market cap of $28.70 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.79 and a beta of 1.57.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 4th. Shareholders of record on Tuesday, December 14th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, December 13th. Best Buy’s dividend payout ratio is currently 28.57%.

In other Best Buy news, insider Robert L. Bass sold 5,823 shares of the stock in a transaction dated Wednesday, October 13th. The shares were sold at an average price of $110.51, for a total transaction of $643,499.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 5,957 shares of company stock worth $657,868. Insiders own 0.36% of the company’s stock.

BBY has been the subject of a number of research reports. Citigroup reduced their price target on shares of Best Buy from $118.00 to $106.00 and set a “sell” rating for the company in a report on Wednesday. Telsey Advisory Group increased their price target on shares of Best Buy from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, August 25th. Bank of America upgraded shares of Best Buy to a “buy” rating and increased their price objective for the company from $157.00 to $175.00 in a research note on Wednesday. Zacks Investment Research restated a “buy” rating on shares of Best Buy in a research note on Friday, September 10th. Finally, Wells Fargo & Company increased their price objective on shares of Best Buy from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $128.38.

About Best Buy

Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment comprises of the operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.

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Earnings History for Best Buy (NYSE:BBY)

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