Why Best Buy Co. Inc. Stock Dropped Today
Shares of Best Buy (NYSE: BBY) were down 4.8% as of 1:00 p.m. EST after the electronics retailer announced weaker-than-expected third-quarter 2017 results.
Best Buy's quarterly revenue climbed 4.1% year over year to $9.32 billion -- below consensus estimates for $9.36 billion -- including 4.4% comparable-sales growth. On the bottom line, that translated to 23.2% growth in net income to $239 million, and 30% growth in earnings per diluted share, to $0.78, in line with investors' expectations. Note the latter figure includes a net benefit of roughly $0.04 per share from stock repurchases over the past year.
IMAGE SOURCE: BEST BUY.
Source: Fool.com
Best Buy Co. Stock
€70.92
0.350%
The stock is one of the favorites of our community with 32 Buy predictions and 4 Sell predictions.
As a result the target price of 76 € shows a slightly positive potential of 7.16% compared to the current price of 70.92 € for Best Buy Co..
