Best Buy Co. Inc. (NYSE: BBY) is scheduled to release its fiscal second-quarter financial results before the markets open on Thursday. The consensus estimates are $0.99 in earnings per share (EPS) and $9.56 billion in revenue. The same period of last year reportedly had $0.91 in EPS and $9.38 billion in revenue.
In terms of the guidance previously issued for this quarter, the company said that it expects to see EPS in the range of $0.95 to $1.00 and revenue between $9.5 billion and $9.6 billion, with comparable sales growth of 1.5% to 2.5%.
During the fiscal first quarter, total revenues barely increased, about 0.4%, to the current level. Domestic revenues increased 0.8% year over year to $8.48 billion and international revenues decreased 5.2% to $661 million.
At the same time, comparable sales increased by 1.1%, compared with a gain of 7.1% in the same period of last year. Domestic comparable sales increased 1.3%, while international comparable sales decreased 1.2%. Online domestic comparable sales grew 14.5%.
Excluding Wednesday’s move, Best Buy had outperformed the broad markets, with its stock up about 28% year to date. In the past 52 weeks, the stock is actually down about 17%.
A few analysts weighed in on the stock ahead of the report:
- Tesley Advisory Group has a Market Perform rating.
- Goldman Sachs has a Neutral rating with a $73 target.
- Guggenheim has a Buy rating and an $80 price target.
- Wedbush has a Hold rating with a $71 target price.
- Cleveland Research has a Neutral rating.
Shares of Best Buy traded up more than 1% to $68.83 on Wednesday, in a 52-week range of $47.72 to $81.66. The consensus price target is $76.73.
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