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Best Buy (BBY) Gains But Lags Market: What You Should Know
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Best Buy (BBY - Free Report) closed at $106.37 in the latest trading session, marking a +0.83% move from the prior day. This move lagged the S&P 500's daily gain of 1.05%.
Coming into today, shares of the consumer electronics retailer had lost 7.48% in the past month. In that same time, the Retail-Wholesale sector lost 8.02%, while the S&P 500 lost 5.07%.
Wall Street will be looking for positivity from BBY as it approaches its next earnings report date. The company is expected to report EPS of $1.91, down 7.28% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.6 billion, down 2.16% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.95 per share and revenue of $51.75 billion. These totals would mark changes of +25.79% and +9.5%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for BBY. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 has moved 1.8% higher. BBY is currently a Zacks Rank #1 (Strong Buy).
Investors should also note BBY's current valuation metrics, including its Forward P/E ratio of 10.6. This represents a premium compared to its industry's average Forward P/E of 8.35.
Meanwhile, BBY's PEG ratio is currently 1.4. 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. BBY's industry had an average PEG ratio of 0.83 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 26, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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Best Buy (BBY) Gains But Lags Market: What You Should Know
Best Buy (BBY - Free Report) closed at $106.37 in the latest trading session, marking a +0.83% move from the prior day. This move lagged the S&P 500's daily gain of 1.05%.
Coming into today, shares of the consumer electronics retailer had lost 7.48% in the past month. In that same time, the Retail-Wholesale sector lost 8.02%, while the S&P 500 lost 5.07%.
Wall Street will be looking for positivity from BBY as it approaches its next earnings report date. The company is expected to report EPS of $1.91, down 7.28% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.6 billion, down 2.16% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.95 per share and revenue of $51.75 billion. These totals would mark changes of +25.79% and +9.5%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for BBY. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 has moved 1.8% higher. BBY is currently a Zacks Rank #1 (Strong Buy).
Investors should also note BBY's current valuation metrics, including its Forward P/E ratio of 10.6. This represents a premium compared to its industry's average Forward P/E of 8.35.
Meanwhile, BBY's PEG ratio is currently 1.4. 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. BBY's industry had an average PEG ratio of 0.83 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 26, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.