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Best Buy (BBY) Outpaces Stock Market Gains: What You Should Know
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Best Buy (BBY - Free Report) closed the most recent trading day at $86.40, moving +0.64% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 8.98%.
Coming into today, shares of the consumer electronics retailer had gained 6.22% in the past month. In that same time, the Retail-Wholesale sector gained 4.11%, while the S&P 500 gained 1%.
Wall Street will be looking for positivity from Best Buy as it approaches its next earnings report date. On that day, Best Buy is projected to report earnings of $2.09 per share, which would represent a year-over-year decline of 23.44%. Meanwhile, our latest consensus estimate is calling for revenue of $14.74 billion, down 9.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.55 per share and revenue of $46.28 billion, which would represent changes of -34.57% and -10.59%, respectively, from the prior year.
Any recent changes to analyst estimates for Best Buy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Best Buy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Best Buy has a Forward P/E ratio of 13.11 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 13.11.
Meanwhile, BBY's PEG ratio is currently 0.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. BBY's industry had an average PEG ratio of 0.74 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Best Buy (BBY) Outpaces Stock Market Gains: What You Should Know
Best Buy (BBY - Free Report) closed the most recent trading day at $86.40, moving +0.64% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 8.98%.
Coming into today, shares of the consumer electronics retailer had gained 6.22% in the past month. In that same time, the Retail-Wholesale sector gained 4.11%, while the S&P 500 gained 1%.
Wall Street will be looking for positivity from Best Buy as it approaches its next earnings report date. On that day, Best Buy is projected to report earnings of $2.09 per share, which would represent a year-over-year decline of 23.44%. Meanwhile, our latest consensus estimate is calling for revenue of $14.74 billion, down 9.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.55 per share and revenue of $46.28 billion, which would represent changes of -34.57% and -10.59%, respectively, from the prior year.
Any recent changes to analyst estimates for Best Buy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Best Buy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Best Buy has a Forward P/E ratio of 13.11 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 13.11.
Meanwhile, BBY's PEG ratio is currently 0.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. BBY's industry had an average PEG ratio of 0.74 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.