Best Buy (NYSE:BBY – Get Free Report) issued its quarterly earnings data on Thursday. The technology retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08, FiscalAI reports. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy updated its FY 2027 guidance to 6.700-6.900 EPS.
Best Buy Stock Up 2.5%
Best Buy stock opened at $87.40 on Thursday. The firm’s 50-day simple moving average is $82.84 and its 200 day simple moving average is $71.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy has a fifty-two week low of $55.10 and a fifty-two week high of $91.26. The stock has a market cap of $18.42 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.44 and a beta of 1.29.
Analyst Ratings Changes
BBY has been the topic of several analyst reports. Bank of America assumed coverage on Best Buy in a report on Monday, August 3rd. They set an “underperform” rating and a $80.00 price target on the stock. Loop Capital downgraded shares of Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price for the company. in a report on Monday, July 13th. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Jefferies Financial Group downgraded Best Buy from a “buy” rating to a “hold” rating and lowered their price target for the company from $89.00 to $85.00 in a report on Wednesday, August 5th. Finally, BNP Paribas Exane raised their price objective on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.10.
Insider Buying and Selling
In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the sale, the chairman owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,002,134 shares of company stock valued at $77,283,527. Insiders own 0.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Palisade Asset Management LLC bought a new stake in Best Buy during the 3rd quarter valued at about $25,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Best Buy during the fourth quarter worth $32,000. CYBER HORNET ETFs LLC purchased a new stake in Best Buy during the 2nd quarter valued at about $33,000. MUFG Securities EMEA plc purchased a new position in Best Buy during the 2nd quarter worth approximately $38,000. Finally, DV Equities LLC acquired a new stake in Best Buy during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Best Buy News Summary
Here are the key news stories impacting Best Buy this week:
- Positive Sentiment: Best Buy reported second-quarter adjusted earnings of $1.47 per share, exceeding the $1.39 analyst consensus, while revenue of $9.78 billion topped expectations of $9.59 billion. Best Buy quarterly earnings report
- Positive Sentiment: Quarterly enterprise comparable sales rose 4.1%, with domestic comparable sales up 4.5%, a significant improvement from the prior year and evidence of strengthening retail performance. Best Buy Reports Second Quarter Results
- Positive Sentiment: Management raised full-year adjusted earnings guidance to $6.70-$6.90 per share, from $6.30-$6.60 previously, signaling increased confidence in profitability. Best Buy Raises Outlook as Sales Grow
- Positive Sentiment: The company also raised its full-year sales forecast, supported by steady demand for technology upgrades and replacement products. Computing was identified as a key area of strength. Best Buy raises annual sales forecast
- Neutral Sentiment: Best Buy is preparing for incoming CEO Jason Bonfig. The leadership transition adds a future execution consideration, but the current results indicate that the business turnaround is gaining traction. Best Buy tops quarterly estimates and raises outlook
- Negative Sentiment: International revenue declined year over year, and management continues to operate against a backdrop of cautious consumer spending, which could limit discretionary electronics demand.
Best Buy Company Profile
Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.
Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.
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