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Best Buy (BBY) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Best Buy (BBY - Free Report) closed at $102.88, marking a -0.12% move from the previous day. This change lagged the S&P 500's 0.1% loss on the day. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, lost 0.47%.
Coming into today, shares of the consumer electronics retailer had lost 3.68% in the past month. In that same time, the Retail-Wholesale sector lost 0.65%, while the S&P 500 gained 3.67%.
Wall Street will be looking for positivity from Best Buy as it approaches its next earnings report date. On that day, Best Buy is projected to report earnings of $2.84 per share, which would represent a year-over-year decline of 18.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.79 billion, down 0.88% from the year-ago period.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $10.11 per share and revenue of $52.17 billion. These results would represent year-over-year changes of +27.81% and +10.39%, respectively.
Investors should also note any recent changes to analyst estimates for Best Buy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Best Buy currently has a Zacks Rank of #3 (Hold).
Investors should also note Best Buy's current valuation metrics, including its Forward P/E ratio of 10.19. For comparison, its industry has an average Forward P/E of 8.16, which means Best Buy is trading at a premium to the group.
Meanwhile, BBY's PEG ratio is currently 1.13. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. BBY's industry had an average PEG ratio of 0.7 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 246, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Best Buy (BBY) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Best Buy (BBY - Free Report) closed at $102.88, marking a -0.12% move from the previous day. This change lagged the S&P 500's 0.1% loss on the day. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, lost 0.47%.
Coming into today, shares of the consumer electronics retailer had lost 3.68% in the past month. In that same time, the Retail-Wholesale sector lost 0.65%, while the S&P 500 gained 3.67%.
Wall Street will be looking for positivity from Best Buy as it approaches its next earnings report date. On that day, Best Buy is projected to report earnings of $2.84 per share, which would represent a year-over-year decline of 18.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.79 billion, down 0.88% from the year-ago period.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $10.11 per share and revenue of $52.17 billion. These results would represent year-over-year changes of +27.81% and +10.39%, respectively.
Investors should also note any recent changes to analyst estimates for Best Buy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Best Buy currently has a Zacks Rank of #3 (Hold).
Investors should also note Best Buy's current valuation metrics, including its Forward P/E ratio of 10.19. For comparison, its industry has an average Forward P/E of 8.16, which means Best Buy is trading at a premium to the group.
Meanwhile, BBY's PEG ratio is currently 1.13. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. BBY's industry had an average PEG ratio of 0.7 as of yesterday's close.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 246, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.