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Best Buy (BBY) Stock Moves -0.81%: What You Should Know
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In the latest trading session, Best Buy (BBY - Free Report) closed at $93.64, marking a -0.81% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.48%. Elsewhere, the Dow lost 1.05%, while the tech-heavy Nasdaq lost 0.46%.
Prior to today's trading, shares of the consumer electronics retailer had lost 2.27% over the past month. This has was narrower than the Retail-Wholesale sector's loss of 2.46% and lagged the S&P 500's gain of 0.08% in that time.
Investors will be hoping for strength from Best Buy as it approaches its next earnings release. On that day, Best Buy is projected to report earnings of $1.57 per share, which would represent a year-over-year decline of 29.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.34 billion, down 11.16% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.97 per share and revenue of $50.08 billion, which would represent changes of -10.39% and -3.24%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 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 10.52. For comparison, its industry has an average Forward P/E of 10.27, which means Best Buy is trading at a premium to the group.
We can also see that BBY currently has a PEG ratio of 1.11. 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. The Retail - Consumer Electronics was holding an average PEG ratio of 0.78 at yesterday's closing price.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% 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.
To follow BBY in the coming trading sessions, be sure to utilize Zacks.com.
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Best Buy (BBY) Stock Moves -0.81%: What You Should Know
In the latest trading session, Best Buy (BBY - Free Report) closed at $93.64, marking a -0.81% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.48%. Elsewhere, the Dow lost 1.05%, while the tech-heavy Nasdaq lost 0.46%.
Prior to today's trading, shares of the consumer electronics retailer had lost 2.27% over the past month. This has was narrower than the Retail-Wholesale sector's loss of 2.46% and lagged the S&P 500's gain of 0.08% in that time.
Investors will be hoping for strength from Best Buy as it approaches its next earnings release. On that day, Best Buy is projected to report earnings of $1.57 per share, which would represent a year-over-year decline of 29.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.34 billion, down 11.16% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.97 per share and revenue of $50.08 billion, which would represent changes of -10.39% and -3.24%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 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 10.52. For comparison, its industry has an average Forward P/E of 10.27, which means Best Buy is trading at a premium to the group.
We can also see that BBY currently has a PEG ratio of 1.11. 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. The Retail - Consumer Electronics was holding an average PEG ratio of 0.78 at yesterday's closing price.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% 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.
To follow BBY in the coming trading sessions, be sure to utilize Zacks.com.