Best Buy Co. Inc. (NYSE:BBY) traded at $79.88 at close of the session on Tuesday, 11/22/22, made an upward move of 12.78% on its previous day’s price.
Looking at the stock we see that its previous close was $70.83 and the beta (5Y monthly) reads 1.49 with the day’s price range being $76.00 – $79.96. The company has a trailing 12-month PE ratio of 10.69. In terms of its 52-week price range, BBY has a high of $141.97 and a low of $60.78. The company’s stock has gained about 25.20% over that past 30 days.
Best Buy Co. Inc. has a market cap of $17.48 billion and is expected to release its quarterly earnings report on Nov 21, 2022 – Nov 25, 2022. With its Forward Dividend at 3.52 and a yield of 4.41%, the company’s investors could be anxious for the BBY stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $1.03, with the EPS growth for the year raised at $6.21 for 2023 and $6.92 for next year. These figures represent -38.00% and 11.40% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $10.31 billion, with a low of $10.08 billion and a high of $10.49 billion. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $45.91 billion, or -11.30% down from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the BBY stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of Hold.
Based on estimates by 27 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 17 have rated the Best Buy Co. Inc. (BBY) stock as a Hold, while 6 rate it as a Buy. 1 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 3 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the BBY stock currently stands at 1.34, and the current price level is 15.13% off its SMA20 and 17.69% from its 50-day simple moving average. The RSI (14) is pointing at 66.95 while the volatility over the past week is 3.72% and jumps to 3.57% over the past one month. The beta value is 1.47, while the average true range (ATR) is currently pointing at 3.34.
Let’s briefly compare Best Buy Co. Inc. (BBY) stock to its peers. We find that current price change of 12.78% and -42.12% over the past 12 months for BBY competes that of Apple Inc. (AAPL), which has seen its stock price rise 1.47% in the last trading session and was -6.73% over the last one year. Another of its peers Amazon.com Inc. (AMZN) has gained 0.80% previous session, and was -47.82% down over the past year, while The Home Depot Inc. (HD) was also up 2.56% in the last session, while its price remained in the red at -20.53% over the same period. Best Buy Co. Inc. has a P/E ratio of 10.69 compared to Apple Inc.’s 24.61 and Amazon.com Inc.’s 85.98. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.36% and 1.18%, respectively, at close of the trading.
Coming back to Best Buy Co. Inc. (NYSE:BBY), we note that the average 3-month trading volume was 2.79 million, while that of the preceding 10-day period stands at 4.47 million. Current shares outstanding are 225.40 million.
The insiders hold 0.40% of the company’s shares while institutions hold 81.60%. The data shows that short shares as of Oct 13, 2022, stood at 7.46 million at a short ratio of 3.04. This represents a 3.31% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 9.71 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -21.38% down in year-to-date price movement.