Best Buy quarterly comparable sales rise unexpectedly
- Author: Zachary Reyes May 25, 2017,
May 25, 2017, 17:40
Inc., the No. 1 USA electronics retailer, reported an unexpected rise in first-quarter comparable sales on Thursday, helped by demand for gaming and mobile products. It helps investors in determining whether buying, selling or holding on to a stock would be beneficial for them. Best Buy Co's revenue for the quarter was down 1.0% on a year-over-year basis.
Large investors have recently made changes to their positions in the company. Harvest Fund Management Co.
The Richfield, MN-based electronics retailer reported Q1 earnings per share (EPS) of $0.60, which was $0.20 better than the Wall Street consensus estimate of $0.40. Best Buy Co Inc has a 52 week low of $28.76 and a 52 week high of $52.67. Advisory Services Network LLC purchased a new position in shares of Best Buy Co during the first quarter valued at approximately $134,000. Timber Hill Llc has invested 0% of its portfolio in Best Buy Co Inc (NYSE:BBY). Best Buy has found a niche for itself in US retail - but the BBY stock price now reflects that, and is starting to price in consistent, long-term growth. The company had a trading volume of 3,368,967 shares.
After a recent look, shares have been seen 16.68% from the 200-day moving average, and 3.31% from the 50-day moving average. The Market Capitalization of the company stands at 15.29 Billion. Envestnet Asset stated it has 0.01% in Best Buy Co Inc (NYSE:BBY). Best Buy Co also was the recipient of some unusual options trading on Wednesday. This represents an increase of 177% compared to the typical daily volume of 228 call options.
Best Buy Co (NYSE:BBY) last issued its quarterly earnings data on Wednesday, March 1st. The technology retailer reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.28. Buy rating has been given by 9 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 8 analysts given HOLD rating. Best Buy Co had a net margin of 2.78% and a return on equity of 24.18%. During the same period in the prior year, the firm earned $0.44 EPS.
Heading into the earnings release, covering sell-side analysts have a consensus target price of $48.10 on Best Buy Co., Inc. shares.
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BBY has been the topic of several recent research reports.
"I think what Best Buy has figured out is where the store actually makes sense", versus putting consumer electronics online, Oppenheimer retail analyst Brian Nagel told CNBC Thursday. Moreover, Intrust Bank & Trust Na has 0.08% invested in Best Buy Co Inc (NYSE:BBY) for 4,782 shares. Invesco Ltd holds 0.05% in Best Buy Co Inc (NYSE:BBY) or 3.18M shares. SCHULZE RICHARD M also sold $4.26 million worth of Best Buy Co Inc (NYSE:BBY) shares. On Tuesday, December 6 Baker Paula sold $286,669 worth of Best Buy Co Inc (NYSE:BBY) or 6,138 shares. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company.
When it comes to the Analysis of a Stock, Price Target plays a vital role. (BBY) stock price rose 56.21 percent over the past one year, while increased 10.62 percent during the past 6 months. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mathew Watson sold 1,000 shares of the stock in a transaction on Thursday, March 2nd. In the last ninety days, insiders have sold 415,029 shares of company stock worth $19,817,710. The number was better than the company's own projections as well.