Best Buy (BBY) Stock Moves -0.01%: What You Should Know

In the latest trading session, Best Buy (BBY) closed at $76.98, marking a -0.01% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.14%.

Heading into today, shares of the consumer electronics retailer had gained 15.31% over the past month, outpacing the Retail-Wholesale sector's gain of 9.43% and the S&P 500's gain of 8.35% in that time.

Best Buy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.53, down 48.66% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.57 billion, down 10.78% from the year-ago period.

BBY's full-year Zacks Consensus Estimates are calling for earnings of $7.08 per share and revenue of $47.05 billion. These results would represent year-over-year changes of -29.27% and -9.1%, respectively.

Investors might also notice recent changes to analyst estimates for Best Buy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 18.5% lower. Best Buy currently has a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, Best Buy is holding a Forward P/E ratio of 10.87. For comparison, its industry has an average Forward P/E of 12.4, which means Best Buy is trading at a discount to the group.

We can also see that BBY currently has a PEG ratio of 0.61. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Consumer Electronics industry currently had an average PEG ratio of 0.95 as of yesterday's close.

The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 239, putting it in the bottom 6% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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