Best Buy (BBY) to Release Earnings on Tuesday

Best Buy (NYSE:BBY) is projected to release its earnings data before the market opens on Tuesday, March 4th. Analysts expect Best Buy to post earnings of $2.39 per share and revenue of $13.69 billion for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Best Buy Trading Up 1.6 %

Best Buy stock opened at $90.05 on Friday. The business has a 50 day moving average price of $86.40 and a two-hundred day moving average price of $90.62. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. Best Buy has a 12 month low of $69.29 and a 12 month high of $103.71.

Analyst Ratings Changes

Several equities analysts have commented on BBY shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Best Buy in a report on Friday. StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Truist Financial lowered their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Best Buy in a research note on Friday. Finally, Citigroup lowered their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.59% of the company’s stock.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.