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Indra Bhattacharjee's Avatar
published in Blogs
May 24, 2019

Best Buy (BBY, US$ 65.79) forecasts estimate beating earnings for Q2

Best Buy forecast estimate-beating Q2 sales and profit on Thursday as more and more customers opted for the electronic retailer’s tech support services and continue shopping on its website and app.

The company clocked in better-than-expected profit in Q1 but shied away from disclosing full-year estimates keeping in mind the potential impact of U.S-China dispute, especially the latest imposition of tariffs on $200 billion worth Chinese goods.

Post the announcement, shares of the company rose 2.1% in premarket trade. Key highlights of the Q1 include 40 points gross profit expansion to 23.7%, 14.5% rise of domestic online sales to $1.31 billion accounting for 15.4% of total quarterly revenue, 1.1% same-store sales rise versus an expected 0.9% increase, earnings per share at $1.02 versus estimated 86 cents per share. Further, the company indicated that it expects an adjusted profit for Q2 to be in the range of $0.95 to $1 per share, and total marginal revenue rise to $9.14 billion in line with analysts’ expectations.

The tech support business has been a signature element of outgoing Chief Executive Officer Hubert Joly’s turnaround strategy that led Best Buy out of years of falling same-store sales.

An increasing share of Best Buy’s sales also comes from online, where it has been investing more to boost delivery coupled with its “click and collect” business that helps shoppers buy products online and collect them later from the stores.

Related Ticker: BBY

BBY's RSI Indicator climbs out of oversold territory

The RSI Oscillator for BBY moved out of oversold territory on January 22, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 32 similar instances when the indicator left oversold territory. In of the 32 cases the stock moved higher. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 57 cases where BBY's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on February 23, 2024. You may want to consider a long position or call options on BBY as a result. In of 89 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for BBY just turned positive on February 23, 2024. Looking at past instances where BBY's MACD turned positive, the stock continued to rise in of 52 cases over the following month. The odds of a continued upward trend are .

BBY moved above its 50-day moving average on February 22, 2024 date and that indicates a change from a downward trend to an upward trend.

The 50-day moving average for BBY moved above the 200-day moving average on January 24, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BBY advanced for three days, in of 348 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 290 cases where BBY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day moving average for BBY crossed bearishly below the 50-day moving average on February 16, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BBY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.845) is normal, around the industry mean (8.761). P/E Ratio (13.174) is within average values for comparable stocks, (27.905). Projected Growth (PEG Ratio) (1.750) is also within normal values, averaging (2.884). Dividend Yield (0.048) settles around the average of (0.036) among similar stocks. P/S Ratio (0.385) is also within normal values, averaging (84.104).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. BBY’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock slightly better than average.

Notable companies

The most notable companies in this group are Home Depot (NYSE:HD), Lowe's Companies (NYSE:LOW), AutoZone (NYSE:AZO), Ulta Beauty (NASDAQ:ULTA), Tractor Supply Company (NASDAQ:TSCO), Best Buy Company (NYSE:BBY), Five Below (NASDAQ:FIVE), Bath & Body Works (NYSE:BBWI), RH (NYSE:RH), GameStop Corp (NYSE:GME).

Industry description

The specialty stores sector includes companies dedicated to the sale of retail products focused on a single product category, such as clothing, carpet, books, or office supplies. A specialty store could face intense competition from big-box departmental chains, and therefore offering an adequate collection of the product type it specializes in is key in maintaining/growing its market.

Market Cap

The average market capitalization across the Specialty Stores Industry is 7.49B. The market cap for tickers in the group ranges from 48 to 370.2B. HD holds the highest valuation in this group at 370.2B. The lowest valued company is CALI at 48.

High and low price notable news

The average weekly price growth across all stocks in the Specialty Stores Industry was 0%. For the same Industry, the average monthly price growth was 29%, and the average quarterly price growth was 41%. DSITF experienced the highest price growth at 52%, while RLAB experienced the biggest fall at -31%.

Volume

The average weekly volume growth across all stocks in the Specialty Stores Industry was -18%. For the same stocks of the Industry, the average monthly volume growth was -1% and the average quarterly volume growth was -6%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 48
P/E Growth Rating: 54
Price Growth Rating: 50
SMR Rating: 67
Profit Risk Rating: 74
Seasonality Score: -30 (-100 ... +100)
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BBYDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a retailer of consumer electronics, entertainment software and appliances

Industry SpecialtyStores

Profile
Fundamentals
Details
Industry
Electronics Or Appliance Stores
Address
7601 Penn Avenue South
Phone
+1 612 291-1000
Employees
90000
Web
https://www.investors.bestbuy.com
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BBY and

Correlation & Price change

A.I.dvisor indicates that over the last year, BBY has been loosely correlated with CPRT. These tickers have moved in lockstep 61% of the time. This A.I.-generated data suggests there is some statistical probability that if BBY jumps, then CPRT could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To BBY
1D Price
Change %
BBY100%
+1.44%
CPRT - BBY
61%
Loosely correlated
+3.97%
HD - BBY
55%
Loosely correlated
+0.17%
FND - BBY
52%
Loosely correlated
+3.14%
ABG - BBY
52%
Loosely correlated
+1.10%
KAR - BBY
51%
Loosely correlated
+2.80%
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