In a report released today, Zachary Fadem from Wells Fargo maintained a Hold rating on Best Buy Co (BBY), with a price target of $70. The company’s shares opened today at $69.06.
Fadem observed:
“We are tweaking our FY20 EPS slightly higher to $5.69 reflecting the Q1 beat. $ 2019A 2020E 2021E EPS Curr. Prior Curr. Prior Q1 (Apr.) 0.82 1.02 A 0.87 0.97 Q2 (July) 0.91 0.98 0.95 1.05 Q3 (Oct.) 0.93 0.92 0.93 1.03 Q4 (Jan.) 2.72 2.79 2.85 3.03 FY 5.32 5.69 5.55 6.05 5.79 CY 5.64 6.00 NE FY P/EPS 12.3x 11.5x 10.8x Rev.(MM) 42,879 43,689 44,494 Company Data, Wells Fargo Securities, LLC estimates, and Reuters NA = Not Available, NC = No Change, NE = No Estimate, NM = Not Meaningful V = Volatile Excludes charges and one-time items Quarterly EPS may not sum to the full year total due to changes in the share count Ticker BBY Outstanding: (MM) 271.5 Market Cap.: (MM) $17,775.1 S&P 500: 2,812.33 Avg.”
According to TipRanks.com, Fadem is a 4-star analyst with an average return of 10.0% and a 65.9% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Advance Auto Parts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Best Buy Co with a $78.18 average price target, implying a 13.2% upside from current levels. In a report issued on May 17, Wedbush also maintained a Hold rating on the stock with a $71 price target.
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The company has a one-year high of $84.37 and a one-year low of $47.72. Currently, Best Buy Co has an average volume of 3.34M.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock.
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Best Buy Co., Inc. provides consumer electronics, home office products, entertainment products, appliances and related services. It operates through two business segments: Domestic and International.
