Best Buy (BBY) Declares $0.34 Quarterly Dividend; 2.5% Yield

Best Buy (BBY) PT Lowered to $60 at UBS; Reiterates Neutral

August 30, 2017 8:29 AM EDT

UBS lowered its price target on Best Buy (NYSE: BBY) to $60.00 (from $62.00) while maintaining a Neutral rating following the company's 2Q. Domestic comp of 5.4% beat the consensus estimate of 2.0%. The company saw gains across most major product categories with the notable exception of... More

Best Buy (BBY): Comps Not Sustainable, Cutting PT - Deutsche Bank

August 30, 2017 6:44 AM EDT

Deutsche Bank analyst, Mike Baker, reiterated his Hold rating on shares of Best Buy (NYSE: BBY) and cut his price target to $58 from $60 after shares were hit on the back of much better than expected comps, but less flow through on margins.

The... More

Loop Capital Reiterates Buy Rating & $72 PT on Best Buy (BBY); '2Q17 Bottom- & Top-Line Beat... Management Boosts FY17 Earnings Guidance'

August 29, 2017 12:22 PM EDT

Loop Capital reiterates Buy rating and $72 price target on Best Buy (NYSE: BBY) following the company's second quarter earnings report and full year guidance announcement.

Analyst Anthony Chukumba notes the company delivered second quarter earnings per share, revenues and operating margin results above consensus... More

Wall Street ends higher as fear over North Korea dissipates

August 29, 2017 7:39 AM EDT

By Rodrigo Campos

NEW YORK (Reuters) - Major U.S. stock indexes ended higher on Tuesday after recovering from steep early losses triggered by fears that hostilities in the Korean Peninsula could escalate.

The S&P 500 fell as much as 0.66 percent after U.S. President Donald Trump warned that all options are on the table for the United States to respond after North Korea fired a ballistic missile over a Japanese island in a new show of force.

"When the president says 'all options are on the table,' the best strategy for investors is... More

Best Buy says strong sales not 'new normal,' shares skid

August 29, 2017 7:09 AM EDT

By Gayathree Ganesan and Vibhuti Sharma

(Reuters) - Best Buy Co Inc (NYSE: BBY) reported another strong quarter of same-store sales on Tuesday, but shares of the No.1 U.S. consumer electronics retailer fell after it cautioned that the performance should not be seen as a "new normal."

Best Buy's shares, which hit a record high last week, were down 11 percent at $55.60 despite the company lifting its annual revenue forecast.

Best Buy's sales at established stores rose 5.4 percent in the second quarter ended July 29, handily beating analysts' average expectation for a 2.1 percent increase,... More

Best Buy (BBY) Tops Q2 EPS by 6c, Comps Beat; Raises Outlook

August 29, 2017 7:02 AM EDT

Best Buy (NYSE: BBY) reported Q2 EPS of $0.69, $0.06 better than the analyst estimate of $0.63. Revenue for the quarter came in at $8.94 billion versus the consensus estimate of $8.66 billion.

Comps rose 5.4%, versus the consensus of a 2.1% rise.

We are pleased today to report strong top and bottom line growth for the second quarter of fiscal 2018, said Hubert Joly, Best Buy chairman and CEO. Our higher-than-expected comparable sales of 5.4% were driven by stronger consumer demand for technology products and by the strong execution of our strategy. Against a backdrop of continued healthy consumer confidence, we believe... More

Best Buy (BBY): Raising Estimates Ahead of 2Q Earnings - Barclays

August 28, 2017 7:41 AM EDT

Barclays analyst, Matthew McClintock, reiterated his Overweight rating on shares of Best Buy (NYSE: BBY) and raised estimates ahead of 2Q18 earnings the morning of Tuesday, August 29.

The analyst stated "we have seen many positive reads across categories: Census data indicate that CE... More