Best Buy Stock Has a Lot to Prove on Thursday
We're about to find out if new smartphones can get Best Buy (NYSE: BBY) back on track as a surprising turnaround story. The leading consumer electronics superstore chain reports quarterly results before Thursday's market open.
Things didn't go so well last time out. Best Buy stock tumbled 12% the day it posted its fiscal second-quarter results. The second quarter itself was strong, with revenue and earnings exceeding expectations. However, the market was spooked during the subsequent earnings call as Best Buy warned about margins contracting during the seasonally potent fiscal fourth quarter. We'll get a bit more visibility on that front this week, but the moral of the story is that looking back isn't enough in assessing a financial report.
Image source: Best Buy.
Source: Fool.com
Best Buy Co. Stock
With 15 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 79 € there is a slightly positive potential of 1.07% for Best Buy Co. compared to the current price of 78.16 €.
