Market Overview

Best Buy Earnings Preview: What 3 Firms Are Saying

Best Buy Earnings Preview: What 3 Firms Are Saying
Related BBY
Watch These 7 Huge Call Purchases In Friday Trade
Cramer Talks About Ulta Salon's 'Beautiful' Run
Google's pop-up store opens in New York, deal with Best Buy Canada for in-store shops announced, Pixel available (Seeking Alpha)

With Best Buy Co Inc (NYSE: BBY) set to release earnings on Thursday before the market open, now is a good time to take a look at what Wall Street is expecting from the electronics retailer.

Wall Street consensus for Best Buy is currently earnings per share of $0.29 on $8.49 billion in revenue. However, not all analysts see eye-to-eye on Best Buy.

Here’s a look at what three firms have to say about the company ahead of earnings.


Wedbush expects Best Buy’s numbers will come in below consensus estimates due in part to the closing of Canadian stores. Wedbush predicts that Best Buy will close 66 Future Shop stores, which currently generate $1 billion in annual revenue as part of its Canadian consolidation process. Analysts highlight Best Buy’s intention to spend $200 million this year on Canada and an additional $160 million in the next two years to revitalize overall operations.

Wedbush predicts EPS of $0.26 on $8.24 billion in revenue.

The firm has a Neutral rating on Best Buy and a $37 price target for the stock.

Related Link: Why Best Buy Is A Classic 'Headline Risk'

B. Riley & Co

B. Riley has a slightly more positive view on Best Buy. The firm is calling for a “modest revenue decline” in the quarter driven by forex weakness, but believes that guidance will be much more important than “transient” Q1 earnings disruptions.

B. Riley has a Buy rating on BestBuy and a $47 target for the stock.


UBS analysts agree that guidance for the second half of 2015 will be the key to this earnings report for Best Buy. They are calling for a slight earnings miss of $0.27 per share for Q1.

UBS has a Neutral rating on Best Buy and a $40 target for the stock.

Latest Ratings for BBY

Aug 2016UBSMaintainsNeutral
Aug 2016CitigroupMaintainsNeutral
Aug 2016Raymond JamesMaintainsBuy

View More Analyst Ratings for BBY
View the Latest Analyst Ratings

Posted-In: B. Riley ed calendar UBS WedbushAnalyst Color Previews Analyst Ratings Trading Ideas Best of Benzinga


Related Articles (BBY)

View Comments and Join the Discussion!