Best Buy Co Inc (BBY) is Downgraded by Citigroup to Neutral

Best Buy Co Inc (BBY) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on May 24, 2016.

Many Wall Street Analysts have commented on Best Buy Co Inc. Barclays Initiated Best Buy Co Inc on Mar 31, 2016 to “Overweight”, Price Target of the shares are set at $45.Shares were Reiterated by Wedbush on Feb 26, 2016 to “Underperform” and Lowered the Price Target to $ 20.50 from a previous price target of $21 .Company shares were Reiterated by Telsey Advisory Group on Feb 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 38 from a previous price target of $35 .

On the company’s financial health, Best Buy Co Inc reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 24, 2016. Analyst had a consensus of $0.35. The company had revenue of $8443.00 million for the quarter, compared to analysts expectations of $8295.77 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.

Best Buy Co Inc opened for trading at $31.5 and hit $32.41 on the upside on Friday, eventually ending the session at $32.34, with a gain of 2.57% or 0.81 points. The heightened volatility saw the trading volume jump to 47,34,159 shares. Company has a market cap of $10,480,683 M.

In a different news, on Mar 11, 2016, Sharon Mccollam (Chief Admin Officer & CFO) sold 511,897 shares at $34.15 per share price. According to the SEC, on Mar 4, 2016, Mathew Watson (VP, Finance – Contr. & CAO) sold 679 shares at $33.10 per share price. On Mar 4, 2016, Shari L Ballard (Pres, U.S. Retail & CHRO) sold 184,986 shares at $32.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Best Buy Co. Inc. is a provider of technology products services and solutions. The Company offers service to the consumers small business owners and educators who visit its stores engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories operating e-commerce retail store and call center operations under a range of brand names including Best Buy ( Best Buy Mobile Geek Squad Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition the Company operates Magnolia Home Theater Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.

Best Buy Co Inc

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