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Best Buy Inc. (BBY), which was a favorite on Black Friday, is scheduled to discuss its financial results for the fiscal third quarter 2010 in a conference call Tuesday, December 15, at 10:00 AM (ET). You can catch the live webcast of the call on the company's website.
The three months that ended in November saw Best Buy announce a partnership with Netflix (NFLX) and another one with Google (GOOG), as well as declare a quarterly dividend. Analysts surveyed by Thomson Reuters expect Best Buy to report that earnings rose 18.6% from a year ago to $0.43 per share. Revenue is expected to total $11.9 billion, or 4.2% higher than a year ago.
Looking ahead, analysts expect sequential and year-over-year growth in both EPS and revenue in the fourth quarter, which includes the bulk of the holiday season. This Richfield, Minn.-based company has topped earnings estimates in three of the past four quarters, by as much as 21 cents per share.
Best Buy's long-term EPS growth forecast of 12.5% is better than that of Walmart (WMT). Best Buy's earnings multiple is 14x. Analysts, on average, recommend buying BBY and have for more than 90 days. Two analysts recently raised their earnings estimates and TheStreet.com identified it as one of this week's rocket stocks. The mean price target is $44.77.
Shares are trading near a 52-week high of $45.00 and are about 11% higher than three months ago.
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Reader Comments (Page 1 of 1)
12-14-2009 @ 7:26PM
al coholic said...
Every day more and more people realize that Best Buy cannot compete with Internet retailers who have a competitive price advantage. Just like dial up ISP providers Best Buy will continue to appeal to a smaller and smaller number of people.