With Best Buy Co Inc BBY 3.43% set to release earnings on Thursday before the market open, now is a good time to take a look at what Wall Street is expecting from the electronics retailer.
Wall Street consensus for Best Buy is currently earnings per share of $0.29 on $8.49 billion in revenue. However, not all analysts see eye-to-eye on Best Buy.
Here’s a look at what three firms have to say about the company ahead of earnings.
Wedbush
Wedbush expects Best Buy’s numbers will come in below consensus estimates due in part to the closing of Canadian stores. Wedbush predicts that Best Buy will close 66 Future Shop stores, which currently generate $1 billion in annual revenue as part of its Canadian consolidation process. Analysts highlight Best Buy’s intention to spend $200 million this year on Canada and an additional $160 million in the next two years to revitalize overall operations.
Wedbush predicts EPS of $0.26 on $8.24 billion in revenue.
The firm has a Neutral rating on Best Buy and a $37 price target for the stock.
B. Riley & Co
B. Riley has a slightly more positive view on Best Buy. The firm is calling for…
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