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Best Buy (BBY) Stock Moves -1.97%: What You Should Know
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Best Buy (BBY - Free Report) closed at $97.10 in the latest trading session, marking a -1.97% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.44%. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Coming into today, shares of the consumer electronics retailer had lost 3.83% in the past month. In that same time, the Retail-Wholesale sector lost 7.58%, while the S&P 500 lost 3.72%.
Investors will be hoping for strength from Best Buy as it approaches its next earnings release, which is expected to be March 3, 2022. On that day, Best Buy is projected to report earnings of $2.81 per share, which would represent a year-over-year decline of 19.25%. Our most recent consensus estimate is calling for quarterly revenue of $16.73 billion, down 1.25% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Best Buy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Best Buy is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Best Buy is currently trading at a Forward P/E ratio of 10.38. This valuation marks a discount compared to its industry's average Forward P/E of 10.46.
Meanwhile, BBY's PEG ratio is currently 1.15. 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 0.8 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 249, putting it in the bottom 3% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Best Buy (BBY) Stock Moves -1.97%: What You Should Know
Best Buy (BBY - Free Report) closed at $97.10 in the latest trading session, marking a -1.97% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.44%. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Coming into today, shares of the consumer electronics retailer had lost 3.83% in the past month. In that same time, the Retail-Wholesale sector lost 7.58%, while the S&P 500 lost 3.72%.
Investors will be hoping for strength from Best Buy as it approaches its next earnings release, which is expected to be March 3, 2022. On that day, Best Buy is projected to report earnings of $2.81 per share, which would represent a year-over-year decline of 19.25%. Our most recent consensus estimate is calling for quarterly revenue of $16.73 billion, down 1.25% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Best Buy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Best Buy is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Best Buy is currently trading at a Forward P/E ratio of 10.38. This valuation marks a discount compared to its industry's average Forward P/E of 10.46.
Meanwhile, BBY's PEG ratio is currently 1.15. 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 0.8 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 249, putting it in the bottom 3% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.