Earnings results for Best Buy (NYSE:BBY)
Best Buy Co., Inc. is expected* to report earnings on 02/25/2021 before market open. The report will be for the fiscal Quarter ending Jan 2021. According to Zacks Investment Research, based on 11 analysts’ forecasts, the consensus EPS forecast for the quarter is $3.46. The reported EPS for the same quarter last year was $2.9.
Best Buy last posted its quarterly earnings results on November 23rd, 2020. The technology retailer reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.36. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.02 billion. Best Buy has generated $6.07 earnings per share over the last year and currently has a price-to-earnings ratio of 17.7. Best Buy has confirmed that its next quarterly earnings report will be published on Thursday, February 25th, 2021. Best Buy will be holding an earnings conference call on Thursday, February 25th. Interested parties can register for or listen to the call using this link.
Analyst Opinion on Best Buy (NYSE:BBY)
23 Wall Street analysts have issued ratings and price targets for Best Buy in the last 12 months. Their average twelve-month price target is $110.37, predicting that the stock has a possible downside of 5.45%. The high price target for BBY is $135.00 and the low price target for BBY is $70.00. There are currently 1 sell rating, 7 hold ratings and 15 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Best Buy has received a consensus rating of Buy. The company’s average rating score is 2.61, and is based on 15 buy ratings, 7 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $110.37, Best Buy has a forecasted downside of 5.4% from its current price of $116.73. Best Buy has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Best Buy (NYSE:BBY)
Best Buy pays a meaningful dividend of 1.86%, higher than the bottom 25% of all stocks that pay dividends. Best Buy has only been increasing its dividend for 1 years. The dividend payout ratio of Best Buy is 36.24%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Best Buy will have a dividend payout ratio of 28.57% next year. This indicates that Best Buy will be able to sustain or increase its dividend.
Insiders buying/selling: Best Buy (NYSE:BBY)
In the past three months, Best Buy insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $477,302.00 in company stock. Only 0.64% of the stock of Best Buy is held by insiders. 76.56% of the stock of Best Buy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Best Buy (NYSE:BBY
Earnings for Best Buy are expected to decrease by -2.53% in the coming year, from $7.90 to $7.70 per share. The P/E ratio of Best Buy is 17.74, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 32.80. The P/E ratio of Best Buy is 17.74, which means that it is trading at a less expensive P/E ratio than the Retail/Wholesale sector average P/E ratio of about 35.50. Best Buy has a PEG Ratio of 1.40. PEG Ratios above 1 indicate that a company could be overvalued. Best Buy has a P/B Ratio of 8.69. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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