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Best Buy (BBY) Stock Moves -1.8%: What You Should Know
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Best Buy (BBY - Free Report) closed at $63.35 in the latest trading session, marking a -1.8% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.37%. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.24%.
Heading into today, shares of the consumer electronics retailer had lost 10.92% over the past month, lagging the Retail-Wholesale sector's loss of 7.64% and the S&P 500's loss of 6.51% in that time.
Best Buy will be looking to display strength as it nears its next earnings release. On that day, Best Buy is projected to report earnings of $1.03 per share, which would represent a year-over-year decline of 50.48%. Meanwhile, our latest consensus estimate is calling for revenue of $10.29 billion, down 13.6% from the prior-year quarter.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $6.17 per share and revenue of $45.98 billion. These results would represent year-over-year changes of -38.36% and -11.17%, respectively.
Any recent changes to analyst estimates for Best Buy should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Best Buy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Best Buy has a Forward P/E ratio of 10.45 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 10.45.
Meanwhile, BBY's PEG ratio is currently 0.59. 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 0.59 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 175, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Best Buy (BBY) Stock Moves -1.8%: What You Should Know
Best Buy (BBY - Free Report) closed at $63.35 in the latest trading session, marking a -1.8% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.37%. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.24%.
Heading into today, shares of the consumer electronics retailer had lost 10.92% over the past month, lagging the Retail-Wholesale sector's loss of 7.64% and the S&P 500's loss of 6.51% in that time.
Best Buy will be looking to display strength as it nears its next earnings release. On that day, Best Buy is projected to report earnings of $1.03 per share, which would represent a year-over-year decline of 50.48%. Meanwhile, our latest consensus estimate is calling for revenue of $10.29 billion, down 13.6% from the prior-year quarter.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $6.17 per share and revenue of $45.98 billion. These results would represent year-over-year changes of -38.36% and -11.17%, respectively.
Any recent changes to analyst estimates for Best Buy should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Best Buy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Best Buy has a Forward P/E ratio of 10.45 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 10.45.
Meanwhile, BBY's PEG ratio is currently 0.59. 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 0.59 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 175, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.