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Best Buy (BBY) Dips More Than Broader Markets: What You Should Know
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Best Buy (BBY - Free Report) closed the most recent trading day at $91.41, moving -0.87% from the previous trading session. This change lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.26%.
Heading into today, shares of the consumer electronics retailer had gained 0.15% over the past month, outpacing the Retail-Wholesale sector's loss of 13.49% and the S&P 500's loss of 8.27% in that time.
Best Buy will be looking to display strength as it nears its next earnings release, which is expected to be May 24, 2022. The company is expected to report EPS of $1.56, down 30.04% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.34 billion, down 11.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.95 per share and revenue of $50.08 billion. These totals would mark changes of -10.59% and -3.24%, respectively, from last year.
Any recent changes to analyst estimates for Best Buy should also be noted by investors. 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. 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. The Zacks Consensus EPS estimate has moved 0.27% lower within the past month. Best Buy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Best Buy's current valuation metrics, including its Forward P/E ratio of 10.31. Its industry sports an average Forward P/E of 10, so we one might conclude that Best Buy is trading at a premium comparatively.
It is also worth noting that BBY currently has a PEG ratio of 1.09. 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. The Retail - Consumer Electronics industry currently had an average PEG ratio of 0.76 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 250, which puts it in the bottom 2% 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
Best Buy (BBY - Free Report) closed the most recent trading day at $91.41, moving -0.87% from the previous trading session. This change lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.26%.
Heading into today, shares of the consumer electronics retailer had gained 0.15% over the past month, outpacing the Retail-Wholesale sector's loss of 13.49% and the S&P 500's loss of 8.27% in that time.
Best Buy will be looking to display strength as it nears its next earnings release, which is expected to be May 24, 2022. The company is expected to report EPS of $1.56, down 30.04% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.34 billion, down 11.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.95 per share and revenue of $50.08 billion. These totals would mark changes of -10.59% and -3.24%, respectively, from last year.
Any recent changes to analyst estimates for Best Buy should also be noted by investors. 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. 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. The Zacks Consensus EPS estimate has moved 0.27% lower within the past month. Best Buy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Best Buy's current valuation metrics, including its Forward P/E ratio of 10.31. Its industry sports an average Forward P/E of 10, so we one might conclude that Best Buy is trading at a premium comparatively.
It is also worth noting that BBY currently has a PEG ratio of 1.09. 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. The Retail - Consumer Electronics industry currently had an average PEG ratio of 0.76 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 250, which puts it in the bottom 2% 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.