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Why the Earnings Streak Will Continue for Best Buy (BBY)
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Looking for a stock that might be in a good position to beat earnings at its next report? Consider BestBuy Co., Inc. (BBY - Free Report) , a firm in the Retail - Consumer Electronics industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, BBY has beaten estimates by at least 15% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, BBY expected to post earnings of $1.66 per share, while it actually produced earnings of $1.95 per share, a beat of 17.5%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 40 cents per share, when it actually saw earnings of 60 cents per share instead, representing a 50% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Best Buy. In fact, the Earnings ESP for BBY is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for BBY, as the firm currently has a Zacks Earnings ESP of +1.59%, so another beat could be around the corner.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that BBY could see another beat at its next report, especially if recent trends are any guide.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
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Why the Earnings Streak Will Continue for Best Buy (BBY)
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Best Buy Co., Inc. (BBY - Free Report) , a firm in the Retail - Consumer Electronics industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, BBY has beaten estimates by at least 15% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, BBY expected to post earnings of $1.66 per share, while it actually produced earnings of $1.95 per share, a beat of 17.5%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 40 cents per share, when it actually saw earnings of 60 cents per share instead, representing a 50% positive surprise.
Best Buy Co., Inc. Price and EPS Surprise
Best Buy Co., Inc. Price and EPS Surprise | Best Buy Co., Inc. Quote
Thanks in part to this history, recent estimates have been moving higher for Best Buy. In fact, the Earnings ESP for BBY is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for BBY, as the firm currently has a Zacks Earnings ESP of +1.59%, so another beat could be around the corner.
This is particularly true when you consider that BBY has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that BBY could see another beat at its next report, especially if recent trends are any guide.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
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