Equities research analysts predict that Best Buy Co Inc (NYSE:BBY) will post earnings of $1.98 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Best Buy’s earnings, with the lowest EPS estimate coming in at $1.92 and the highest estimate coming in at $2.05. Best Buy posted earnings per share of $1.95 in the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The company is scheduled to announce its next earnings results on Wednesday, March 7th.

On average, analysts expect that Best Buy will report full year earnings of $4.00 per share for the current financial year, with EPS estimates ranging from $3.93 to $4.07. For the next year, analysts expect that the company will post earnings of $4.43 per share, with EPS estimates ranging from $4.20 to $5.22. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Best Buy.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Several brokerages recently weighed in on BBY. Loop Capital reaffirmed a “buy” rating and issued a $72.00 price target on shares of Best Buy in a research report on Wednesday, September 20th. Moffett Nathanson began coverage on shares of Best Buy in a research report on Monday, December 4th. They issued a “sell” rating on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Best Buy in a research report on Thursday, November 16th. Wedbush set a $38.00 price target on shares of Best Buy and gave the company a “sell” rating in a research report on Monday. Finally, Royal Bank of Canada dropped their price target on shares of Best Buy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 20th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Best Buy presently has an average rating of “Hold” and an average price target of $59.14.

Shares of Best Buy (BBY) traded up $0.56 during midday trading on Friday, reaching $70.34. 2,740,800 shares of the company traded hands, compared to its average volume of 3,810,000. Best Buy has a twelve month low of $41.67 and a twelve month high of $70.87. The company has a market cap of $20,560.00, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, December 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.93%. Best Buy’s dividend payout ratio is currently 34.43%.

In related news, major shareholder Richard M. Schulze sold 250,000 shares of Best Buy stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.83, for a total value of $16,707,500.00. Following the sale, the insider now owns 1,732,500 shares of the company’s stock, valued at approximately $115,782,975. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Keith J. Nelsen sold 44,235 shares of Best Buy stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $56.78, for a total transaction of $2,511,663.30. Following the completion of the sale, the general counsel now directly owns 107,503 shares in the company, valued at approximately $6,104,020.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,134,253 shares of company stock worth $191,063,125. Insiders own 0.84% of the company’s stock.

Several large investors have recently bought and sold shares of BBY. Renaissance Technologies LLC raised its holdings in shares of Best Buy by 762.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after purchasing an additional 3,119,700 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Best Buy by 27.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after purchasing an additional 866,787 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Best Buy by 125.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock worth $79,563,000 after purchasing an additional 772,200 shares during the period. APG Asset Management N.V. raised its holdings in shares of Best Buy by 27.6% in the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after purchasing an additional 723,500 shares during the period. Finally, 1060 Capital LLC bought a new stake in shares of Best Buy in the 3rd quarter worth approximately $35,849,000. 88.45% of the stock is currently owned by institutional investors.

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About Best Buy

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.

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