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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 the most recent trading day at $101.60, moving +0.05% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
Coming into today, shares of the consumer electronics retailer had lost 2.28% in the past month. In that same time, the Retail-Wholesale sector gained 0.24%, while the S&P 500 gained 4.82%.
Investors will be hoping for strength from Best Buy as it approaches its next earnings release. The company is expected to report EPS of $2.84, down 18.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.88 billion, down 0.36% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.11 per share and revenue of $52.25 billion. These totals would mark changes of +27.81% and +10.55%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Best Buy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Best Buy is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Best Buy is holding a Forward P/E ratio of 10.05. This valuation marks a premium compared to its industry's average Forward P/E of 7.92.
Investors should also note that BBY has a PEG ratio of 1.11 right now. 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. Retail - Consumer Electronics stocks are, on average, holding a PEG ratio of 0.68 based on yesterday's closing prices.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 246, putting it in the bottom 4% 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 As Market Dips: What You Should Know
Best Buy (BBY - Free Report) closed the most recent trading day at $101.60, moving +0.05% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
Coming into today, shares of the consumer electronics retailer had lost 2.28% in the past month. In that same time, the Retail-Wholesale sector gained 0.24%, while the S&P 500 gained 4.82%.
Investors will be hoping for strength from Best Buy as it approaches its next earnings release. The company is expected to report EPS of $2.84, down 18.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.88 billion, down 0.36% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.11 per share and revenue of $52.25 billion. These totals would mark changes of +27.81% and +10.55%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Best Buy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Best Buy is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Best Buy is holding a Forward P/E ratio of 10.05. This valuation marks a premium compared to its industry's average Forward P/E of 7.92.
Investors should also note that BBY has a PEG ratio of 1.11 right now. 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. Retail - Consumer Electronics stocks are, on average, holding a PEG ratio of 0.68 based on yesterday's closing prices.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 246, putting it in the bottom 4% 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.