Best Buy Co Inc Stock Tumbles on Disappointing Outlook

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Best Buy Co Inc (NYSE:BBY) stock was on its way down today following a poor outlook in its most recent earnings report.

Best Buy Co Inc Stock Tumbles on Disappointing Outlook

In its earnings report for its fiscal third quarter of 2018, Best Buy Co Inc provided its guidance for its fiscal fourth quarter of the year. The retail company says that it is expecting earnings per share for the period to range from $1.89 to $1.99. This is a blow to BBY stock as Wall Street is estimating earnings per share of $2.03 for the holiday quarter.

At least Best Buy Co Inc’s revenue guidance of $14.2 billion to $14.5 billion isn’t hammering BBY stock as well today. This actually falls in line with analysts’ revenue estimate of $14.35 billion for the holiday quarter.

Best Buy Co Inc also includes guidance for its fiscal full year of 2018 in the earnings report. The company is expecting revenue for the year to range from $41.0 billion to $41.3 billion. Wall Street is looking for revenue of $41.22 billion for fiscal 2018.

Best Buy Co Inc didn’t provided guidance for its fiscal 2018 earnings per share, but we can take a guess. The company’s earnings per share for its first three fiscal quarter of 2018 is $1.81. Based on its fiscal fourth quarter guidance, BBY is expecting earnings per share to range from $3.70 to $3.80 for fiscal 2018. This isn’t good news for BBY stock as analysts are estimating earnings per share of $4.06 for the year.

BBY stock was down 6% as of Thursday morning, but is up 24% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/best-buy-co-inc-stock-falls-on-q4-outlook/.

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