Best Buy reports surprise rise comparable-stores sales

The company provided EPS guidance of $0.43-0.47 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.45.

Meanwhile, the tech chain company is scheduled to report their quarterly revenue on Tuesday, which is expected to closely watch by investors and analysts after its 50-hour sale, as purchases from customers are widely expected to rally.

QUALCOMM, Inc. (NASDAQ:QCOM) now has mean rating of 2.4 while 0 analyst have recommended the shares as "BUY", 0 commented as "OUTPERFORM" and 0 commented as "HOLD". (NYSE:BBY) dropped -1.84% and ended at $32.59.

During the last trading period, the peak price level of the share was $33.60; it means it is top price of day and down price level of the share was $32.48; it means minimum price of the day at which price share traded. The company reported better than expected results in the first quarter, with both revenue and earnings coming in ahead of the market expectations.

Best Buy shares soared on Tuesday after the electronics retailer posted better-than expected comparable store sales and profit for the second quarter, led by a surge in domestic online revenue. The most expectant earnings per share estimate of the stock is set at $2.6 while the conservative estimates kept at $2.87 over the current year. For the full fiscal year, analysts have forecast EPS at $2.87 on sales of $39.27 billion.

Worldwide revenue declined 1 percent but rose 4.1 percent on a currency-neutral basis. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. The stock has a consensus analyst price target of $29.05for twelve month.

07/11/2016 - Best Buy Co., Inc. had its "neutral" rating reiterated by analysts at Piper Jaffray. Zacks Investment Research lowered Best Buy from a "buy" rating to a "hold" rating in a research note on Friday, May 27th. They now have a United States dollars 20.5 price target on the stock. The most recent short interest data show 11.59% of the company's stock are short sold. Joly Hubert retains 511,139 shares in the stock after this transaction. The stock was sold at an average price of $32.24, for a total transaction of $12,831,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the past four weeks, call buyers have been in the driver's seat, based on the stock's 20-day ISE/CBOE/PHLX call/put volume ratio of 1.79. It has 330.14 million of outstanding shares and its shares float measured at 277.70.