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Best Buy (BBY) Gains But Lags Market: What You Should Know
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Best Buy (BBY - Free Report) closed the most recent trading day at $114.92, moving +0.38% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.8%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.5%.
Investors will be hoping for strength from BBY as it approaches its next earnings release. The company is expected to report EPS of $1.66, up 46.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.83 billion, up 10.93% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.12 per share and revenue of $45.31 billion. These totals would mark changes of +17.3% and +3.82%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BBY. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BBY currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that BBY has a Forward P/E ratio of 16.07 right now. Its industry sports an average Forward P/E of 16.07, so we one might conclude that BBY is trading at a no noticeable deviation comparatively.
We can also see that BBY currently has a PEG ratio of 2.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BBY's industry had an average PEG ratio of 1.39 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BBY in the coming trading sessions, be sure to utilize Zacks.com.
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Best Buy (BBY) Gains But Lags Market: What You Should Know
Best Buy (BBY - Free Report) closed the most recent trading day at $114.92, moving +0.38% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.8%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.5%.
Investors will be hoping for strength from BBY as it approaches its next earnings release. The company is expected to report EPS of $1.66, up 46.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.83 billion, up 10.93% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.12 per share and revenue of $45.31 billion. These totals would mark changes of +17.3% and +3.82%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BBY. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BBY currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that BBY has a Forward P/E ratio of 16.07 right now. Its industry sports an average Forward P/E of 16.07, so we one might conclude that BBY is trading at a no noticeable deviation comparatively.
We can also see that BBY currently has a PEG ratio of 2.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BBY's industry had an average PEG ratio of 1.39 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BBY in the coming trading sessions, be sure to utilize Zacks.com.