On Thursday, November 16th, Best Buy (BBY – Free Report) will release its third quarter earnings results before the bell. The company is a Zacks Rank 3 (Hold), and have a Value, Growth, and Momentum score of A.
Dave will look at Best Buy’s past earnings, take a look at what is currently going on with the company, and give us his thoughts on their upcoming earnings announcement.
Furthermore, Dave will uncover some potential options trades for investors looking to make a play on Best Buy ahead of earnings.
Best Buy in Focus
Best Buy operates in a single business segment, selling personal computers and other home office products, consumer electronics, entertainment software, major appliances and related accessories principally through its retail stores. They operate retail stores and commercial Websites under the brand names Best Buy, Media Play, On Cue, Sam Goody, Suncoast, Magnolia Hi-Fi and Future Shop. They also operate in three segments: Best Buy, Musicland and International.
Best Buy is expected to report earnings at $0.79 per share according to the Zacks Consensus Estimate. Last quarter they beat earnings expectations by 9.52%. They reported earnings at $0.69 per share, beating their estimate of $0.63. They have an average earnings surprise of 27.23% over the last 4 quarters.