Best Buy Reports Better-Than-Expected Fourth Quarter Earnings
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Go back to Best Buy Reports Better-Than-Expected Fourth Quarter Earnings
March 2, 2017 7:30 AM EST
Jefferies reiterated a Hold rating and $43.00 price target on Best Buy (NYSE: BBY) following the company's 4Q earnings report. Relative to expectations, taxes helped 4Q EPS by $0.14, but the swing y-y in the rate was worth $0.10.
Analyst Daniel Binder commented, "While... More
March 1, 2017 7:06 AM EST
Best Buy (NYSE: BBY) declared a quarterly dividend of $0.34 per share, or $1.36 annualized. This is a 21.4% increase from the prior dividend of $0.28. The dividend will be payable on April 12, 2017, to stockholders of record on March 22, 2017, with an ex-dividend date of March 20, 2017. The annual... More
March 1, 2017 7:04 AM EST
Best Buy (NYSE: BBY) reported Q4 EPS of $1.95, $0.28 better than the analyst estimate of $1.67. Revenue for the quarter came in at $13.48 billion versus the consensus estimate of $13.62 billion.
A new $3 billion share repurchase plan expected to be completed over the next two years; andA 21% increase in the regular quarterly dividend to $0.34 per share, effective immediately.
GUIDANCE:
Best Buy sees Q1 2018 EPS of $0.35-$0.40, versus the consensus of $0.49.
In the fourth quarter, we delivered Enterprise revenue of $13.5 billion, near the midpoint of our guidance range, improved our... More
