Positive News Coverage Somewhat Unlikely to Affect Best Buy Co. (BBY) Share Price

News headlines about Best Buy Co. (NYSE:BBY) have trended positive on Wednesday, according to Accern. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Best Buy Co. earned a coverage optimism score of 0.28 on Accern’s scale. Accern also assigned press coverage about the technology retailer an impact score of 44.7868151656477 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the media headlines that may have impacted Accern’s scoring:

Several equities research analysts recently weighed in on BBY shares. BidaskClub raised shares of Best Buy Co. from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Zacks Investment Research raised shares of Best Buy Co. from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, October 10th. Jefferies Group LLC reissued a “hold” rating and set a $60.00 price target on shares of Best Buy Co. in a research report on Monday. They noted that the move was a valuation call. SunTrust Banks, Inc. set a $70.00 price target on shares of Best Buy Co. and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, Loop Capital reissued a “buy” rating and set a $72.00 price target on shares of Best Buy Co. in a research report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.97.

Best Buy Co. (NYSE:BBY) opened at $57.20 on Wednesday. The firm has a market cap of $17,044.55, a price-to-earnings ratio of 14.76, a PEG ratio of 1.15 and a beta of 1.42. Best Buy Co. has a one year low of $39.03 and a one year high of $63.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.69 and a current ratio of 1.42.

Best Buy Co. (NYSE:BBY) last released its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the previous year, the company earned $0.57 EPS. Best Buy Co.’s revenue for the quarter was up 4.8% on a year-over-year basis. equities research analysts forecast that Best Buy Co. will post 4.06 earnings per share for the current fiscal year.

In related news, CEO Hubert Joly sold 106,942 shares of Best Buy Co. stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the transaction, the chief executive officer now owns 645,222 shares in the company, valued at approximately $35,280,738.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Corie S. Barry sold 787 shares of Best Buy Co. stock in a transaction on Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $47,157.04. Following the transaction, the chief financial officer now owns 54,159 shares in the company, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,259 shares of company stock worth $9,182,693. 0.84% of the stock is owned by corporate insiders.

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Best Buy Co. Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Insider Buying and Selling by Quarter for Best Buy Co. (NYSE:BBY)

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