Best Buy First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Best Buy Co., Inc. (NYSE:BBY) will unveil its latest earnings on Tuesday, May 22, 2012. 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 analyst estimate is for profit of 58 cents per share, a rise of 65.7% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 44 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 58 cents during the last month. Analysts are projecting profit to rise by 6% versus last year to $3.61.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the fourth quarter of the last fiscal year, the company reported net income of $2.50 per share versus a mean estimate of profit of $2.16 per share. In the third quarter of the last fiscal year, the company missed estimates by 4 cents.

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Analyst Ratings: Analysts seem relatively indifferent about Best Buy with 16 of 21 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, the company swung to a loss of $1.7 billion ($4.59 a share) from a profit of $651 million ($1.58) a year earlier, but beat analyst expectations. Revenue rose 0.4% to $16.32 billion from $16.26 billion.

Key Stats: Revenue has risen the past four quarters. Revenue rose 1.8% in the third quarter of the last fiscal year from the year earlier, climbed 0.1% in the second quarter of the last fiscal year from the year-ago quarter and 1.4% in the first quarter of the last fiscal year. Best Buy reported a loss in the last quarter, which followed three quarters of profit. The company reported a profit of $154 million in the third quarter of the last fiscal year, a profit of $177 million  in the second of the last fiscal year and a profit of $136 million in the first quarter of the last fiscal year.

Competitors to Watch: CONN’S, Inc., RadioShack Corporation, hhgregg, Inc., GameStop Corp., Apple Inc., Circuit City Stores Inc, The Carphone Warehouse Group PLC, Funtalk China Hldgs. Ltd., Kesa Electricals plc, and Globex Utilidades SA.

Stock Price Performance: Between March 20, 2012 and May 16, 2012, the stock price had fallen $7.18 (-27.5%), from $26.10 to $18.92. 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, increasing 16.7% (+$3.64) over that span. It saw one of its worst periods between March 23, 2012 and April 5, 2012 when shares fell for 10 straight days, dropping 17.7% (-$4.83) over that span.

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

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