Stock analysts at Cleveland Research upped their earnings per share estimates on shares of Best Buy Co. (NYSE:BBY) in a report issued on Friday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the company’s shares.
Several other analysts have also recently commented on the stock. Analysts at B. Riley raised their price target on shares of Best Buy Co. from $40.00 to $49.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Best Buy Co. from $36.00 to $49.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Thursday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.84.
Best Buy Co. (NYSE:BBY) traded up 0.97% on Friday, hitting $43.75. The stock had a trading volume of 1,568,973 shares. Best Buy Co. has a 1-year low of $11.20 and a 1-year high of $44.66. The stock’s 50-day moving average is $41.00 and its 200-day moving average is $33.07. The company’s market cap is $14.941 billion.
Best Buy Co. (NYSE:BBY) last released its earnings data on Tuesday, August 20th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.12 by $0.20. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Best Buy Co. will post $2.40 earnings per share for the current fiscal year.
In other Best Buy Co. news, major shareholder Richard M. Schulze unloaded 1,708,334 shares of the stock on the open market in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.20, for a total value of $73,800,028.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Best Buy Co, Inc is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services.
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