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Best Buy Q4 Earnings Preview

Courtesy of Benzinga.

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Best Buy Co Inc (NYSE: BBY) is scheduled to report Q4 earnings Tuesday morning and the Street expected EPS of $1.35 on revenues of $14.35 billion.

If Best Buy reports in line with consensus for Q4, it will have experienced a nearly 1 percent decline in sales from the prior year period. Amid concerns of revenues being under pressure, the stock was still up 3.67 percent over the past three months and had traded in a range between $34 and nearly $40.

In January, JP Morgan issued a note projecting that comps will be in the range of flat to low negative single digits for the first half of the current fiscal year. The biggest issue for Best Buy was price competition, according to analyst Rod Hall.

In February, however, Oppenheimer analyst Brian Nagel upgraded the firm's rating from Perform to Outperform and thought "the worst is likely over" for the retailer. Nagel also set a $43 price target on the stock.

Looking ahead, consensus for Q1 EPS was $0.31 on revenues of $8.73 billion which would be a sales decline of 3.4 percent compared to the year-ago period.

Ahead of its earnings release, Best Buy closed Monday at $38.63, up 1.4 percent.

Latest Ratings for BBY

Date Firm Action From To
Feb 2015 Oppenheimer Upgrades Perform Outperform
Jan 2015 Citigroup Maintains Buy
Jan 2015 Jefferies Maintains Buy

View More Analyst Ratings for BBY
View the Latest Analyst Ratings

Posted-In: Brian Nagel JP Morgan Oppenheimer Rod HallAnalyst Color Previews Analyst Ratings Trading Ideas

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