Yahoo Finance Best Buy (BBY) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
Wall Street analysts forecast that Best Buy (BBY) will report quarterly earnings of $1.08 per share in its upcoming release, pointing to a year-over-year decline of 6.1%. It is anticipated that revenues will amount to $8.97 billion, exhibiting a decline of 5.2% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Best Buy metrics that are commonly tracked and projected by analysts on Wall Street.
The combined assessment of analysts suggests that 'Revenue by Product Category- Domestic- Computing and Mobile Phones' will likely reach $3.52 billion. The estimate indicates a change of -4.6% from the prior-year quarter.
The consensus among analysts is that 'Revenue by Product Category- Domestic- Consumer Electronics' will reach $2.43 billion. The estimate suggests a change of -6.4% year over year.
Analysts predict that the 'Revenue by Product Category- Domestic- Appliances' will reach $1.27 billion. The estimate indicates a change of -4.9% from the prior-year quarter.
Analysts forecast 'Revenue by Product Category- Domestic- Entertainment' to reach $550.87 million. The estimate indicates a change of -6.8% from the prior-year quarter.
According to the collective judgment of analysts, 'Geographic Revenue- Domestic' should come in at $8.34 billion. The estimate indicates a change of -5.2% from the prior-year quarter.
Analysts' assessment points toward 'Geographic Revenue- International' reaching $644.84 million. The estimate indicates a change of -3.2% from the prior-year quarter.
The average prediction of analysts places 'Number of stores - International - Total' at 159. Compared to the current estimate, the company reported 159 in the same quarter of the previous year.
Analysts expect 'Number of stores - Domestic - Pacific Sales Stores' to come in at 20. Compared to the present estimate, the company reported 20 in the same quarter last year.
It is projected by analysts that the 'Number of stores - International - Canada Best Buy Stores' will reach 128. Compared to the present estimate, the company reported 127 in the same quarter last year.
Based on the collective assessment of analysts, 'Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores' should arrive at 32. The estimate is in contrast to the year-ago figure of 32.
The collective assessment of analysts points to an estimated 'Number of stores - Domestic - U.S. Best Buy Stores' of 898. Compared to the current estimate, the company reported 908 in the same quarter of the previous year.
The consensus estimate for 'Number of stores - Domestic - Total' stands at 962. The estimate is in contrast to the year-ago figure of 966.
View all Key Company Metrics for Best Buy here>>>
Over the past month, shares of Best Buy have returned -7.5% versus the Zacks S&P 500 composite's +4% change. Currently, BBY carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Best Buy Co., Inc. (BBY) : Free Stock Analysis Report
