Best Buy Co., Inc. First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Best Buy Co., Inc. (NYSE:BBY) will unveil its latest earnings on Tuesday, June 14, 2011. Best Buy Co., Inc. is a retailer that sells appliances, consumer electronics, home office products and software.

Best Buy Co., Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst is estimating net income of 33 cents per share, a decline of 8.3% from the same quarter a year ago. Estimates range from profit of 28 cents per share to net income of 37 cents per share. Over the past three months, the consensus estimate has moved down from 44 cents. The consensus estimate is unchanged from a month ago. For the year, analysts are projecting profit of $3.47 per share, a rise of 1.2% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the fourth quarter of the last fiscal year, it reported net income of $1.98 per share against a mean estimate of profit of $1.85 per share. In the third quarter, it missed forecasts by 6 cents.

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Wall St. Revenue Expectations: On average, analysts predict $10.69 billion in revenue this quarter, a decline of 0.9% from the year ago quarter. Analysts are forecasting total revenue of $51.84 billion for the year, from last year’s revenue of $50.27 billion.

Analyst Ratings: Analysts seem relatively indifferent about Best Buy Co with 12 of 23 analysts surveyed maintaining a hold rating. While the average rating for the stock remains a hold, the strength of the rating has dwindled over the past three months.

Key Stats:

The company has now seen net income fall in each of the last two quarters. In the fourth quarter of the last fiscal year, net income fell 4.4% from the year earlier quarter.

Revenue has fallen in the past two quarters. In fourth quarter of the last fiscal year, revenue declined 1.1% to $16.26 billion from the year earlier quarter.

Competitors to Watch: CONN’S, Inc. (NASDAQ:CONN), RadioShack Corporation (NYSE:RSH), hhgregg, Inc. (NYSE:HGG), GameStop Corp. (NYSE:GME), Apple Inc. (NASDAQ:AAPL), Funtalk China Hldgs. Ltd. (NASDAQ:FTLK), PC Mall, Inc. (NASDAQ:MALL), PC Connection, Inc. (NASDAQ:PCCC), Gaiam, Inc. (NASDAQ:GAIA), BIDZ.com, Inc. (NASDAQ:BIDZ), ebay (NASDAQ:EBAY), Amazon.com (NASDAQ:AMZN), Bluefly, Inc. (NASDAQ:BFLY), Overstock.com, Inc. (NASDAQ:OSTK), Systemax (NYSE:SYX), Target (NYSE:TGT), RadioShack (NYSE:RSH) and Wal-Mart (NYSE:WMT).

Recent Price Movement: Over the past three months, the stock price has fallen $2.44 (-7%) from $31.37 on March 11, 2011 to $29.13 on June 7, 2011.

(Sources: YahooFinance and Xignite Financials)

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