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Will Best Buy (BBY) Crush Estimates at Its Next Earnings Report?
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Looking for a stock that might be in a good position to beat earnings at its next report? Consider Best Buy Co., Inc. (BBY - Free Report) , a firm in the Retail – Consumer Electronics industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, BBY has beaten estimates by at least 30% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, BBY expected to post earnings of 42 cents per share, while it actually produced earnings of 57 cents per share, a beat of 35.7%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 47 cents per share, when it actually saw earnings of 62 cents per share instead, representing a 31.9% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Best Buy. In fact, the Earnings ESP for BBY is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for BBY, as the firm currently has a Zacks Earnings ESP of 0.61%, so another beat could be around the corner.
This is particularly true when you consider that BBY has a great Zacks Rank #1 (Strong Buy), which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that BBY could see another beat at its next report, especially if recent trends are any guide.
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Will Best Buy (BBY) Crush Estimates at Its Next Earnings Report?
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Best Buy Co., Inc. (BBY - Free Report) , a firm in the Retail – Consumer Electronics industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, BBY has beaten estimates by at least 30% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, BBY expected to post earnings of 42 cents per share, while it actually produced earnings of 57 cents per share, a beat of 35.7%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 47 cents per share, when it actually saw earnings of 62 cents per share instead, representing a 31.9% positive surprise.
BEST BUY Price and EPS Surprise
BEST BUY Price and EPS Surprise | BEST BUY Quote
Thanks in part to this history, recent estimates have been moving higher for Best Buy. In fact, the Earnings ESP for BBY is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for BBY, as the firm currently has a Zacks Earnings ESP of 0.61%, so another beat could be around the corner.
This is particularly true when you consider that BBY has a great Zacks Rank #1 (Strong Buy), which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that BBY could see another beat at its next report, especially if recent trends are any guide.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>