Media headlines about Best Buy (NYSE:BBY) have trended somewhat positive this week, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Best Buy earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned media headlines about the technology retailer an impact score of 43.8598331846551 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Today's Retail Sales report is bad news for the economy and the Fed (finance.yahoo.com)
- Best Buy (BBY) Stock Rating Reaffirmed by Citigroup (americanbankingnews.com)
- Wild stock to watch: Best Buy Co., Inc. (BBY) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- What Stores Do With $90 Billion in Merchandise Returns (finance.yahoo.com)
- Stock Review for Services Investors — Best Buy, GameStop, Arrow Electronics, and Avnet (bizjournals.com)
Several equities research analysts have recently commented on BBY shares. Loop Capital set a $72.00 price objective on Best Buy and gave the company a “buy” rating in a report on Tuesday, October 24th. Zacks Investment Research downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Wedbush set a $38.00 price target on Best Buy and gave the company a “sell” rating in a report on Monday, January 8th. Moffett Nathanson began coverage on Best Buy in a report on Monday, December 4th. They set a “sell” rating for the company. Finally, Barclays raised their price target on Best Buy from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $63.64.
Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the 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 return on equity of 28.46% and a net margin of 3.09%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. equities research analysts expect that Best Buy will post 4.04 earnings per share for the current fiscal year.
In other Best Buy news, major shareholder Richard M. Schulze sold 1,000,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $58.80, for a total transaction of $58,800,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Keith J. Nelsen sold 44,235 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $56.78, for a total value of $2,511,663.30. Following the completion of the transaction, the general counsel now owns 107,503 shares in the company, valued at approximately $6,104,020.34. The disclosure for this sale can be found here. Insiders have sold a total of 3,134,253 shares of company stock worth $191,063,125 in the last quarter. Company insiders own 1.21% of the company’s stock.
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.
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