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Best Buy (BBY) Stock Moves -1%: What You Should Know
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Best Buy (BBY - Free Report) closed at $98.63 in the latest trading session, marking a -1% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.12%. At the same time, the Dow lost 1.78%, and the tech-heavy Nasdaq gained 0.48%.
Heading into today, shares of the consumer electronics retailer had gained 0.28% over the past month, outpacing the Retail-Wholesale sector's loss of 2.89% and the S&P 500's loss of 3.91% in that time.
Wall Street will be looking for positivity from Best Buy as it approaches its next earnings report date. This 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.73 billion, down 1.25% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Best Buy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Best Buy is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Best Buy has a Forward P/E ratio of 10.44 right now. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 10.44.
Also, we should mention that BBY has a PEG ratio of 1.15. 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 0.8 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 245, putting it in the bottom 4% 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.
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%: What You Should Know
Best Buy (BBY - Free Report) closed at $98.63 in the latest trading session, marking a -1% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.12%. At the same time, the Dow lost 1.78%, and the tech-heavy Nasdaq gained 0.48%.
Heading into today, shares of the consumer electronics retailer had gained 0.28% over the past month, outpacing the Retail-Wholesale sector's loss of 2.89% and the S&P 500's loss of 3.91% in that time.
Wall Street will be looking for positivity from Best Buy as it approaches its next earnings report date. This 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.73 billion, down 1.25% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Best Buy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Best Buy is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Best Buy has a Forward P/E ratio of 10.44 right now. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 10.44.
Also, we should mention that BBY has a PEG ratio of 1.15. 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 0.8 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 245, putting it in the bottom 4% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.