Published: Fri, November 17, 2017
Sci-tech | By Carrie Guzman

Best Buy warns of a disappointing holiday season

Best Buy warns of a disappointing holiday season

Best Buy has been working to better compete with rivals in an increasingly online shopping world.

Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. Piper Jaffray Companies restated a "buy" rating and issued a $70.00 target price on shares of Best Buy Co.in a report on Thursday, August 3rd. Bernstein initiated Best Buy Co Inc (NYSE:BBY) rating on Monday, February 6. The company has market cap of $16.53 billion.

Best Buy Co Inc (NYSE:BBY)'s sound earnings growth per share is expected to be a double-digit 21.74% over the next three years.

The company also said its sales and profits were slightly lower because of the hurricanes in Texas, Florida, and Puero Rico, which dragged down its earnings per share by 3 cents. The technology retailer reported $0.78 EPS for the quarter, meeting the Thomson Reuters' consensus estimate of $0.78.

The company's revenue rose 4.2 per cent to US$9.32 billion. Deutsche Bank AG restated a "buy" rating and issued a $60.00 price objective on shares of Best Buy Co.in a report on Thursday, August 3rd. Jefferies Group now has a "Hold" rating and a $60.00 target price on the stock.

A number of equities analysts have weighed in on BBY shares. Raymond James maintained it with "Buy" rating and $45 target in Wednesday, August 24 report. Hedge funds and other institutional investors own 87.52% of the company's stock. $39,279 worth of Best Buy Co Inc (NYSE:BBY) shares were sold by Watson Mathew.

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A spokesman for the hostel said that the staff were "devastated" by the tragedy. "She was just a really good person", Gilkes said. Seymour had a passion for traveling and met her Canadian friend while visiting Bali a year ago noted the nypost .

The United States' largest electronics chain raised its revenue guidance for the full year and said earnings in the crucial fourth quarter when US consumers spend the most would be $1.89 to $1.99 per share, roughly flat from a year earlier.

ILLEGAL ACTIVITY NOTICE: "Global X MANAGEMENT CO LLC Grows Holdings in Best Buy Co., Inc".

Total shares held by institutions as of the most recent company filings are 263,462,085 with a reported 17,411,537 bought and 37,937,803 sold. If you are viewing this article on another domain, it was illegally copied and reposted in violation of U.S. and global copyright & trademark legislation. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The stock was sold at an average price of $54.68, for a total transaction of $61,733.72. The original version of this news story can be viewed at https://www.truebluetribune.com/2017/11/16/fy2018-eps-estimates-for-best-buy-co-inc-lifted-by-jefferies-group-bby.html. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,259 shares of company stock worth $9,182,693. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It operates through two business segments: Domestic and worldwide.

The International segment is comprised of all operations outside the US and its territories, which includes Canada, Europe, China, Mexico and Turkey.

"It's going to drive traffic into the store and when that launch is delayed, not only delayed by a few weeks but delayed from Q3 into Q4, you're going to see other product categories suffer as well", BTIG analyst, Alan Rifkin said.

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