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Best Buy (BBY) Gains As Market Dips: What You Should Know
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Best Buy (BBY - Free Report) closed at $112.49 in the latest trading session, marking a +0.12% move from the prior day. This move outpaced the S&P 500's daily loss of 0.18%.
Prior to today's trading, shares of the consumer electronics retailer had lost 2.85% over the past month. This has was narrower than the Retail-Wholesale sector's loss of 3.25% and lagged the S&P 500's gain of 2.44% in that time.
Wall Street will be looking for positivity from BBY as it approaches its next earnings report date. This is expected to be August 24, 2021. The company is expected to report EPS of $1.91, up 11.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.6 billion, up 17.05% from the year-ago period.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $8.53 per share and revenue of $49.56 billion. These results would represent year-over-year changes of +7.84% and +4.86%, respectively.
Investors might also notice recent changes to analyst estimates for BBY. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. BBY is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BBY has a Forward P/E ratio of 13.18 right now. Its industry sports an average Forward P/E of 13.18, so we one might conclude that BBY is trading at a no noticeable deviation comparatively.
It is also worth noting that BBY currently has a PEG ratio of 1.59. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BBY's industry had an average PEG ratio of 0.96 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 44% 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.
To follow BBY in the coming trading sessions, be sure to utilize Zacks.com.
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Best Buy (BBY) Gains As Market Dips: What You Should Know
Best Buy (BBY - Free Report) closed at $112.49 in the latest trading session, marking a +0.12% move from the prior day. This move outpaced the S&P 500's daily loss of 0.18%.
Prior to today's trading, shares of the consumer electronics retailer had lost 2.85% over the past month. This has was narrower than the Retail-Wholesale sector's loss of 3.25% and lagged the S&P 500's gain of 2.44% in that time.
Wall Street will be looking for positivity from BBY as it approaches its next earnings report date. This is expected to be August 24, 2021. The company is expected to report EPS of $1.91, up 11.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.6 billion, up 17.05% from the year-ago period.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $8.53 per share and revenue of $49.56 billion. These results would represent year-over-year changes of +7.84% and +4.86%, respectively.
Investors might also notice recent changes to analyst estimates for BBY. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. BBY is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BBY has a Forward P/E ratio of 13.18 right now. Its industry sports an average Forward P/E of 13.18, so we one might conclude that BBY is trading at a no noticeable deviation comparatively.
It is also worth noting that BBY currently has a PEG ratio of 1.59. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BBY's industry had an average PEG ratio of 0.96 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 44% 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.
To follow BBY in the coming trading sessions, be sure to utilize Zacks.com.