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Best Buy (BBY) Stock Moves -0.59%: What You Should Know

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Best Buy (BBY - Free Report) closed at $110.10 in the latest trading session, marking a -0.59% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.08%.

Coming into today, shares of the consumer electronics retailer had gained 0.13% in the past month. In that same time, the Retail-Wholesale sector lost 4.25%, while the S&P 500 gained 2.93%.

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. In that report, analysts expect BBY to post earnings of $1.91 per share. This would mark year-over-year growth of 11.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.

Any recent changes to analyst estimates for BBY 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BBY is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that BBY has a Forward P/E ratio of 12.99 right now. For comparison, its industry has an average Forward P/E of 12.99, which means BBY is trading at a no noticeable deviation to the group.

It is also worth noting that BBY currently has a PEG ratio of 1.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Consumer Electronics industry currently had an average PEG ratio of 0.95 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 35, putting it in the top 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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