Best Buy Co. Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Best Buy Co., Inc. (NYSE:BBY) will unveil its latest earnings on Tuesday, December 13, 2011. Best Buy 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 estimate of analysts is for net income of 51 cents per share, a decline of 5.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 53 cents. Between one and three months ago, the average estimate moved down. It has risen from 50 cents during the last month. Analysts are projecting profit to rise by 0.6% versus last year to $3.45.

Past Earnings Performance: Last quarter, the company missed estimates by 6 cents, coming in at profit of 47 cents per share versus a mean estimate of net income of 53 cents per share. In the first quarter, the company beat estimates by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $12.14 billion in revenue this quarter, a rise of 2.1% from the year ago quarter. Analysts are forecasting total revenue of $51.74 billion for the year, a rise of 2.9% from last year’s revenue of $50.27 billion.

Analyst Ratings: Analysts seem relatively indifferent about Best Buy with 13 of 21 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit fell 30.3% to $177 million (47 cents a share) from $254 million (60 cents a share) the year earlier, missing analyst expectations. Revenue was unchanged at $11.35 billion.

Key Stats:

The company’s revenue has risen for two straight quarters. In the first quarter, the figure rose 1.4%.

Competitors to Watch: CONN’S, Inc. (NASDAQ:CONN), RadioShack Corporation (NYSE:RSH), hhgregg, Inc. (NYSE:HGG), GameStop Corp. (NYSE:GME), Apple Inc. (NASDAQ:AAPL), Target (NYSE:TGT), Wal-Mart (NYSE:WMT), Funtalk China Hldgs. Ltd. (NASDAQ:FTLK), Systemax (NYSE:SYX), (NASDAQ:AMZN) and eBay (NASDAQ:EBAY).

Stock Price Performance: During September 13, 2011 to December 7, 2011, the stock price had risen $4.92 (21.2%) from $23.20 to $28.12. The stock price saw one of its best stretches over the last year between October 3, 2011 and October 12, 2011 when shares rose for eight-straight days, rising 16.7% (+$3.70) over that span. It saw one of its worst periods between November 16, 2011 and November 25, 2011 when shares fell for seven-straight days, falling 8.7% (-$2.43) over that span. Shares are down $5.62 (-16.7%) year to date.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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