Best Buy Reports Better-Than-Expected Second Quarter Results
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Morgan Stanley Raises Price Target on Best Buy (BBY) to $35 Following Solid 2Q
August 24, 2016 1:04 PM EDTMorgan Stanley reiterated an Equalweight rating on Best Buy (NYSE: BBY), and raised the price target to $35.00 (from $28.00), following the company's 2Q earnings report. Q2 comps were better than expected at +0.8% vs. consensus estimates of -0.4%, and Q3 comp guidance of +1% is solid and... More
UBS Raises Price Target on Best Buy (BBY) Following Solid 2Q
August 24, 2016 9:15 AM EDTUBS reiterated a Neutral rating on Best Buy (NYSE: BBY), and raised the price target to $38.00 (from $33.00), following the company's 2Q earnings report. Appliances comped up 8.2% and now represent 9% of BBYs TTM sales. Also, its eComm growth of 24% was above the 20% mark for the... More
Best Buy (BBY) Tops Q2 EPS by 14c; Comps Outpace
August 23, 2016 7:02 AM EDTBest Buy (NYSE: BBY) reported Q2 EPS of $0.57, $0.14 better than the analyst estimate of $0.43. Revenue for the quarter came in at $8.53 billion versus the consensus estimate of $8.4 billion.
Comps rose 0.8 percent, versus expectations of a 0.5 percent drop.
Enterprise comps rose 0.8 percent, while the Street was looking for a 0.6 percent drop.
GUIDANCE:
Corie Barry, Best Buy CFO, commented, For our Q3 FY17 guidance, we are expecting... More
