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Ahead of Best Buy (BBY) Q2 Earnings: Get Ready With Wall Street Estimates for Key Metrics
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Wall Street analysts forecast that Best Buy (BBY - Free Report) will report quarterly earnings of $1.15 per share in its upcoming release, pointing to a year-over-year decline of 5.7%. It is anticipated that revenues will amount to $9.23 billion, exhibiting a decline of 3.7% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Best Buy metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Revenue by Product Category- Domestic- Computing and Mobile Phones' should come in at $3.58 billion. The estimate indicates a year-over-year change of -2.5%.
It is projected by analysts that the 'Revenue by Product Category- Domestic- Consumer Electronics' will reach $2.56 billion. The estimate indicates a year-over-year change of -3.5%.
The consensus among analysts is that 'Revenue by Product Category- Domestic- Appliances' will reach $1.30 billion. The estimate suggests a change of -6.3% year over year.
Analysts' assessment points toward 'Revenue by Product Category- Domestic- Entertainment' reaching $502.32 million. The estimate indicates a change of -7.7% from the prior-year quarter.
The combined assessment of analysts suggests that 'Geographic Revenue- Domestic' will likely reach $8.56 billion. The estimate suggests a change of -3.7% year over year.
The collective assessment of analysts points to an estimated 'Geographic Revenue- International' of $683.00 million. The estimate indicates a year-over-year change of -1.4%.
The average prediction of analysts places 'Number of stores - International - Total' at 160. The estimate compares to the year-ago value of 160.
The consensus estimate for 'Number of stores - Domestic - Pacific Sales Stores' stands at 20. Compared to the current estimate, the company reported 20 in the same quarter of the previous year.
Analysts forecast 'Number of stores - International - Canada Best Buy Stores' to reach 128. The estimate compares to the year-ago value of 128.
Based on the collective assessment of analysts, 'Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores' should arrive at 32. Compared to the present estimate, the company reported 32 in the same quarter last year.
Analysts expect 'Number of stores - Domestic - U.S. Best Buy Stores' to come in at 890. Compared to the current estimate, the company reported 907 in the same quarter of the previous year.
Analysts predict that the 'Number of stores - Domestic - Total' will reach 957. Compared to the current estimate, the company reported 969 in the same quarter of the previous year.
Over the past month, Best Buy shares have recorded returns of +0.9% versus the Zacks S&P 500 composite's +1.5% change. Based on its Zacks Rank #4 (Sell), BBY will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Ahead of Best Buy (BBY) Q2 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Wall Street analysts forecast that Best Buy (BBY - Free Report) will report quarterly earnings of $1.15 per share in its upcoming release, pointing to a year-over-year decline of 5.7%. It is anticipated that revenues will amount to $9.23 billion, exhibiting a decline of 3.7% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Best Buy metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Revenue by Product Category- Domestic- Computing and Mobile Phones' should come in at $3.58 billion. The estimate indicates a year-over-year change of -2.5%.
It is projected by analysts that the 'Revenue by Product Category- Domestic- Consumer Electronics' will reach $2.56 billion. The estimate indicates a year-over-year change of -3.5%.
The consensus among analysts is that 'Revenue by Product Category- Domestic- Appliances' will reach $1.30 billion. The estimate suggests a change of -6.3% year over year.
Analysts' assessment points toward 'Revenue by Product Category- Domestic- Entertainment' reaching $502.32 million. The estimate indicates a change of -7.7% from the prior-year quarter.
The combined assessment of analysts suggests that 'Geographic Revenue- Domestic' will likely reach $8.56 billion. The estimate suggests a change of -3.7% year over year.
The collective assessment of analysts points to an estimated 'Geographic Revenue- International' of $683.00 million. The estimate indicates a year-over-year change of -1.4%.
The average prediction of analysts places 'Number of stores - International - Total' at 160. The estimate compares to the year-ago value of 160.
The consensus estimate for 'Number of stores - Domestic - Pacific Sales Stores' stands at 20. Compared to the current estimate, the company reported 20 in the same quarter of the previous year.
Analysts forecast 'Number of stores - International - Canada Best Buy Stores' to reach 128. The estimate compares to the year-ago value of 128.
Based on the collective assessment of analysts, 'Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores' should arrive at 32. Compared to the present estimate, the company reported 32 in the same quarter last year.
Analysts expect 'Number of stores - Domestic - U.S. Best Buy Stores' to come in at 890. Compared to the current estimate, the company reported 907 in the same quarter of the previous year.
Analysts predict that the 'Number of stores - Domestic - Total' will reach 957. Compared to the current estimate, the company reported 969 in the same quarter of the previous year.
View all Key Company Metrics for Best Buy here>>>
Over the past month, Best Buy shares have recorded returns of +0.9% versus the Zacks S&P 500 composite's +1.5% change. Based on its Zacks Rank #4 (Sell), BBY will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>