Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Best Buy (NYSE:BBY) Share Price

Headlines about Best Buy (NYSE:BBY) have been trending somewhat positive on Sunday, according to Accern. Accern ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Best Buy earned a coverage optimism score of 0.10 on Accern’s scale. Accern also gave media stories about the technology retailer an impact score of 44.8766776115085 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

Here are some of the news stories that may have impacted Accern Sentiment’s rankings:

Best Buy (BBY) traded up $1.97 during mid-day trading on Friday, reaching $70.76. 3,390,148 shares of the company’s stock were exchanged, compared to its average volume of 3,285,044. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The company has a market capitalization of $20,685.06, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11. Best Buy has a fifty-two week low of $41.67 and a fifty-two week high of $78.59.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. equities research analysts forecast that Best Buy will post 4.04 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Best Buy in a report on Thursday, November 16th. Barclays boosted their target price on shares of Best Buy from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Telsey Advisory Group downgraded shares of Best Buy from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $62.00 to $81.00 in a report on Thursday, January 25th. They noted that the move was a valuation call. Moffett Nathanson assumed coverage on shares of Best Buy in a report on Monday, December 4th. They issued a “sell” rating on the stock. Finally, Loop Capital set a $72.00 target price on shares of Best Buy and gave the stock a “buy” rating in a report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.97.

In other Best Buy news, insider Shari L. Ballard sold 40,018 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the transaction, the insider now directly owns 99,304 shares in the company, valued at approximately $5,578,898.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Keith J. Nelsen sold 44,235 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $56.78, for a total transaction of $2,511,663.30. Following the transaction, the general counsel now owns 107,503 shares in the company, valued at $6,104,020.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,134,253 shares of company stock worth $191,063,125. 1.21% of the stock is owned by company insiders.

COPYRIGHT VIOLATION NOTICE: “Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Best Buy (NYSE:BBY) Share Price” was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://stocknewstimes.com/2018/02/11/best-buy-bby-earning-somewhat-positive-news-coverage-accern-reports.html.

About Best Buy

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply