Stock Story -
Electronics retailer Best Buy (NYSE:BBY) will be reporting results tomorrow before the bell. Here’s what to look for.
Best Buy met analysts’ revenue expectations last quarter, reporting revenues of $9.29 billion, down 3.1% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ EPS estimates.
Is Best Buy a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Best Buy’s revenue to decline 1.3% year on year to $9.63 billion, improving from the 7.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.29 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Best Buy has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Best Buy’s peers in the specialty retail segment, only Sally Beauty (NYSE:SBH) has reported results so far. It met analysts’ revenue estimates, delivering year-on-year sales growth of 1.5%. The stock traded up 7.1% on the results.
Read the full analysis of Sally Beauty’s results on StockStory. There has been positive sentiment among investors in the specialty retail segment, with share prices up 4.1% on average over the last month. Best Buy is down 1.7% during the same time and is heading into earnings with an average analyst price target of $104.30 (compared to the current share price of $90).