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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 at $73.83 in the latest trading session, marking a -0.78% move from the prior day. This change lagged the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 0.57%.
Coming into today, shares of the consumer electronics retailer had gained 4.14% in the past month. In that same time, the Retail-Wholesale sector gained 3.67%, while the S&P 500 gained 4%.
BBY will be looking to display strength as it nears its next earnings release, which is expected to be May 23, 2019. The company is expected to report EPS of $0.88, up 7.32% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.14 billion, up 0.36% from the year-ago period.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $5.66 per share and revenue of $43.61 billion. These results would represent year-over-year changes of +6.39% and +1.71%, respectively.
Investors should also note any recent changes to analyst estimates for BBY. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.29% higher. BBY is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note BBY's current valuation metrics, including its Forward P/E ratio of 13.14. This represents a no noticeable deviation compared to its industry's average Forward P/E of 13.14.
Investors should also note that BBY has a PEG ratio of 1.49 right now. 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 0.98 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 236, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Best Buy (BBY) Dips More Than Broader Markets: What You Should Know
Best Buy (BBY - Free Report) closed at $73.83 in the latest trading session, marking a -0.78% move from the prior day. This change lagged the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 0.57%.
Coming into today, shares of the consumer electronics retailer had gained 4.14% in the past month. In that same time, the Retail-Wholesale sector gained 3.67%, while the S&P 500 gained 4%.
BBY will be looking to display strength as it nears its next earnings release, which is expected to be May 23, 2019. The company is expected to report EPS of $0.88, up 7.32% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.14 billion, up 0.36% from the year-ago period.
BBY's full-year Zacks Consensus Estimates are calling for earnings of $5.66 per share and revenue of $43.61 billion. These results would represent year-over-year changes of +6.39% and +1.71%, respectively.
Investors should also note any recent changes to analyst estimates for BBY. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.29% higher. BBY is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note BBY's current valuation metrics, including its Forward P/E ratio of 13.14. This represents a no noticeable deviation compared to its industry's average Forward P/E of 13.14.
Investors should also note that BBY has a PEG ratio of 1.49 right now. 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 0.98 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 236, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.