Wall Street analysts forecast that Best Buy (BBY) will report quarterly earnings of $1.09 per share in its upcoming release, pointing to a year-over-year decline of 9.2%. It is anticipated that revenues will amount to $8.77 billion, exhibiting a decline of 0.9% compared to the year-ago quarter.
The current level reflects an upward revision of 0.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Best Buy metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts' assessment points toward 'Revenue by Product Category- Domestic- Computing and Mobile Phones' reaching $3.53 billion. The estimate indicates a change of -1.7% from the prior-year quarter.
Based on the collective assessment of analysts, 'Revenue by Product Category- Domestic- Consumer Electronics' should arrive at $2.36 billion. The estimate indicates a year-over-year change of -0.1%.
The collective assessment of analysts points to an estimated 'Revenue by Product Category- Domestic- Appliances' of $1.07 billion. The estimate indicates a change of -2.2% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue by Product Category- Domestic- Entertainment' should come in at $508.85 million. The estimate points to a change of -2.1% from the year-ago quarter.
The consensus estimate for 'Geographic Revenue- Domestic' stands at $8.11 billion. The estimate indicates a change of -1.1% from the prior-year quarter.
It is projected by analysts that the 'Geographic Revenue- International' will reach $639.25 million. The estimate indicates a change of -0.7% from the prior-year quarter.
Analysts forecast 'Number of stores - International - Total' to reach 160. The estimate is in contrast to the year-ago figure of 160.
The consensus among analysts is that 'Number of stores - Total' will reach 1,114. Compared to the present estimate, the company reported 1,117 in the same quarter last year.
Analysts expect 'Number of stores - Domestic - Yardbird Stand-Alone Stores' to come in at 21. The estimate compares to the year-ago value of 23.
The average prediction of analysts places 'Number of stores - Domestic - U.S. Best Buy Outlet Centers' at 25. The estimate compares to the year-ago value of 23.
The combined assessment of analysts suggests that 'Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores' will likely reach 31. The estimate compares to the year-ago value of 32.
Analysts predict that the 'Number of stores - International - Canada Best Buy Stores' will reach 129. Compared to the current estimate, the company reported 128 in the same quarter of the previous year.
View all Key Company Metrics for Best Buy here>>>
Over the past month, shares of Best Buy have returned +7.2% versus the Zacks S&P 500 composite's +10.7% 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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