Best Buy Likely To Report Lower Q4 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Best Buy Co., Inc. (NYSE:BBY) is anticipated to report a decrease in Q4 earnings with an expected EPS of $2.51, down from $2.61 the previous year, and a projected revenue of $14.53 billion, slightly lower than $14.73 billion year-over-year. The company recently entered a strategic partnership with Bell Canada. Analysts have provided mixed ratings, with price targets ranging from $68 to $76. Best Buy's stock rose 0.8% to close at $79.68 recently.
February 29, 2024 | 6:52 am
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NEGATIVE IMPACT
Best Buy is projected to report a decrease in Q4 earnings and revenue, entered a strategic partnership with Bell Canada, and received mixed analyst ratings with price targets adjusted.
The expected decrease in earnings and revenue suggests potential short-term negative impact on BBY's stock price. However, the strategic partnership and the mixed analyst ratings, with some price targets above current stock price, provide a nuanced outlook. The overall negative score is due to the immediate impact of earnings expectations, which typically have a strong influence on stock price movements in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100