Best Buy (NYSE:BBY) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.68-0.73 for the period, compared to the Thomson Reuters consensus estimate of $0.75. The company issued revenue guidance of $8.65-8.75 billion, compared to the consensus revenue estimate of $8.67 billion.Best Buy also updated its FY19 guidance to $4.80-5.00 EPS.
A number of research analysts have weighed in on the company. Jefferies Group restated a buy rating and issued a $74.00 price target (up from $60.00) on shares of Best Buy in a research note on Tuesday. Citigroup restated a neutral rating and issued a $74.00 price target (up from $69.00) on shares of Best Buy in a research note on Friday, February 16th. Piper Jaffray Companies raised their price target on Best Buy from $68.00 to $83.00 and gave the company an overweight rating in a research note on Monday. Telsey Advisory Group downgraded Best Buy from an outperform rating to a market perform rating and raised their price target for the company from $62.00 to $81.00 in a research note on Thursday, January 25th. They noted that the move was a valuation call. Finally, Wedbush restated a sell rating and issued a $38.00 price target on shares of Best Buy in a research note on Monday. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $65.25.
Shares of Best Buy (NYSE BBY) traded up $2.46 during midday trading on Thursday, hitting $74.90. The stock had a trading volume of 8,202,413 shares, compared to its average volume of 3,467,130. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. Best Buy has a one year low of $42.22 and a one year high of $78.59. The company has a market cap of $21,180.00, a P/E ratio of 19.08, a P/E/G ratio of 1.15 and a beta of 1.11.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 22nd will be issued a dividend of $0.45 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.34. This represents a $1.80 annualized dividend and a yield of 2.40%. Best Buy’s dividend payout ratio (DPR) is presently 34.43%.
In related news, major shareholder Richard M. Schulze sold 475,000 shares of Best Buy stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $62.68, for a total transaction of $29,773,000.00. Following the completion of the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at approximately $108,593,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Richard M. Schulze sold 65,000 shares of Best Buy stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $61.08, for a total value of $3,970,200.00. Following the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at $105,821,100. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,050,000 shares of company stock valued at $127,503,250. 1.21% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION WARNING: This article was first posted by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3230567/best-buy-bby-releases-q1-earnings-guidance.html.
Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.