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BBY

Best Buy

$69.00

1.23 (1.82%)

07:05
08/29/19
08/29
07:05
08/29/19
07:05

Best Buy reports Q2 EPS $1.08, consensus 99c

Reports Q2 revenue $9.54B, consensus $9.56B. Reports Q2 enterprise SSS up 1.6%, domestic SSS up 1.9%, domestic comparable online sales up 17.3%, and international SSS down 1.9%. "For Q2, we are reporting comparable sales growth of 1.6% on top of a very strong 6.2% last year," said Corie Barry, Best Buy CEO. "We also delivered improved profitability driven by gross profit rate expansion and continued disciplined expense management, demonstrating the culture we have built around driving cost reductions and efficiencies to help fund investments. I would like to thank all of our associates for delivering strong first half results." Barry continued, "During the quarter, we continued to make progress on our Building the New Blue strategy and our purpose to enrich lives through technology. We expanded our commitment to the health and wellness category through expanded assortment and a second acquisition, grew our Total Tech Support membership, added In-Home Advisors and continued to transform our supply chain to improve our speed of delivery to customers. We are excited about our strategic business opportunities and look forward to updating the market on the progress of our strategy during our Investor Update on September 25."

  • 29

    Aug

BBY Best Buy
$69.00

1.23 (1.82%)

07/08/19
07/08/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Best Buy (BBY) initiated with a Buy at Guggenheim. 2. Cabot Microelectronics (CCMP) was initiated with a Buy at Goldman Sachs and a Neutral at CL King. 3. Crowdstrike (CRWD) was initiated with an Outperform at Oppenheimer, Macquarie and JMP Securities, an Overweight at JPMorgan, Piper Jaffray and Barclays, a Buy at BofA/Merrill, Needham, Stifel, and Mizuho, a Neutral at Credit Suisse and Goldman Sachs, a Sector Perform at RBC Capital, and a Hold at SunTrust and Jefferies. 4. TriplePoint Venture (TPVG) initiated with a Buy at Nomura Instinet. 5. Fiverr (FVRR) was initiated with an Outperform at Oppenheimer and JMP Securities, a Buy at Needham, as well as a Neutral at JPMorgan, UBS and Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/19
GSCO
07/11/19
INITIATION
Target $73
GSCO
Neutral
Best Buy initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Kate McShane started Best Buy with a Neutral rating and $73 price target. The analyst sees limited upside to valuation at current share levels.
07/16/19
LOOP
07/16/19
NO CHANGE
Target $70
LOOP
Buy
Aaron's price target raised to $70 from $64 at Loop Capital
Loop Capital analyst Anthony Chukumba raised his price target on Aaron's (AAN) to $70 and kept his Buy rating ahead of its Q2 earnings next week, saying he is turning increasingly more bullish on its Progressive Leasing business given the growth in its volume per active door metric and early results from its Best Buy (BBY) partnership. The analyst adds that the premium valuation on Aaron's stock is warranted by Progressive's "substantial 'white space'" opportunity and his expectation of continued sequential improvement in its core business.
08/26/19
BOFA
08/26/19
NO CHANGE
Target $75
BOFA
Neutral
Best Buy comps likely to hit high end of guidance, says BofA/Merrill
BofA/Merrill analyst Curtis Nagle believes Best Buy's comps will likely to come in at high end of guidance when the company reports Q2 results on August 29. He estimates comparable sales of 2.3%, which compares to guidance of 0.5%-2.5% and the consensus estimate of 2.0%. However, if Best Buy does beat Q2 expectations, there is a chance it does not raise guidance given the high Q4 earnings weighting and continued uncertainty over tariffs, Nagle tells investors in a research note. He keeps a Neutral rating on the shares with a $75 price target.

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