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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 $62.85, marking a -1.4% move from the previous day. This change lagged the S&P 500's daily loss of 0.8%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Heading into today, shares of the consumer electronics retailer had lost 8.92% over the past month, lagging the Retail-Wholesale sector's loss of 7.11% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from Best Buy as it approaches its next earnings report date. The company is expected to report EPS of $1.03, down 50.48% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $10.29 billion, down 13.6% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.17 per share and revenue of $45.98 billion. These totals would mark changes of -38.36% and -11.17%, respectively, from last year.
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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Best Buy is holding a Forward P/E ratio of 10.33. For comparison, its industry has an average Forward P/E of 10.33, which means Best Buy is trading at a no noticeable deviation to the group.
Investors should also note that BBY has a PEG ratio of 0.58 right now. 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. The Retail - Consumer Electronics industry currently had an average PEG ratio of 0.58 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $62.85, marking a -1.4% move from the previous day. This change lagged the S&P 500's daily loss of 0.8%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Heading into today, shares of the consumer electronics retailer had lost 8.92% over the past month, lagging the Retail-Wholesale sector's loss of 7.11% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from Best Buy as it approaches its next earnings report date. The company is expected to report EPS of $1.03, down 50.48% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $10.29 billion, down 13.6% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.17 per share and revenue of $45.98 billion. These totals would mark changes of -38.36% and -11.17%, respectively, from last year.
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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Best Buy is holding a Forward P/E ratio of 10.33. For comparison, its industry has an average Forward P/E of 10.33, which means Best Buy is trading at a no noticeable deviation to the group.
Investors should also note that BBY has a PEG ratio of 0.58 right now. 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. The Retail - Consumer Electronics industry currently had an average PEG ratio of 0.58 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.