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Best Buy (BBY) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Best Buy (BBY - Free Report) closed at $94.40, marking a -1.22% move from the previous day. This move lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.39%.
Heading into today, shares of the consumer electronics retailer had lost 3.76% over the past month, lagging the Retail-Wholesale sector's loss of 1.67% and the S&P 500's gain of 0.17% in that time.
Investors will be hoping for strength from Best Buy as it approaches its next earnings release. In that report, analysts expect Best Buy to post earnings of $1.57 per share. This would mark a year-over-year decline of 29.6%. Our most recent consensus estimate is calling for quarterly revenue of $10.34 billion, down 11.16% from the year-ago period.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $8.97 per share and revenue of $50.08 billion. These results would represent year-over-year changes of -10.39% and -3.24%, respectively.
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. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Best Buy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Best Buy's current valuation metrics, including its Forward P/E ratio of 10.65. This represents a premium compared to its industry's average Forward P/E of 10.38.
Also, we should mention that BBY has a PEG ratio of 1.12. 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. BBY's industry had an average PEG ratio of 0.78 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 247, putting it in the bottom 3% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Best Buy (BBY) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Best Buy (BBY - Free Report) closed at $94.40, marking a -1.22% move from the previous day. This move lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.39%.
Heading into today, shares of the consumer electronics retailer had lost 3.76% over the past month, lagging the Retail-Wholesale sector's loss of 1.67% and the S&P 500's gain of 0.17% in that time.
Investors will be hoping for strength from Best Buy as it approaches its next earnings release. In that report, analysts expect Best Buy to post earnings of $1.57 per share. This would mark a year-over-year decline of 29.6%. Our most recent consensus estimate is calling for quarterly revenue of $10.34 billion, down 11.16% from the year-ago period.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $8.97 per share and revenue of $50.08 billion. These results would represent year-over-year changes of -10.39% and -3.24%, respectively.
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. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Best Buy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Best Buy's current valuation metrics, including its Forward P/E ratio of 10.65. This represents a premium compared to its industry's average Forward P/E of 10.38.
Also, we should mention that BBY has a PEG ratio of 1.12. 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. BBY's industry had an average PEG ratio of 0.78 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 247, putting it in the bottom 3% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.