Best Buy (BBY, Financial) experienced a 1.36% drop in its stock price, reaching $99.97 per share with a trading volume of 795,462 shares and a turnover rate of 0.37%. The stock's volatility was recorded at 1.38%.
Recent financial reports show that Best Buy achieved a revenue of $9.288 billion, with a net profit of $291 million. The earnings per share (EPS) stand at $1.35, and the gross profit amounts to $2.181 billion. The company's price-to-earnings (P/E) ratio is 17.28.
Analysts' ratings show that out of 30 institutions, 37% recommend buying the stock, 57% suggest holding, and 6% advise selling.
The retail sector, where Best Buy operates, saw an overall decline of 1.68%. Notably active stocks in this sector include Nuvve Holding Corp., Boqii Pet, and NaaS Technology, with turnover rates of 43.29%, 15.26%, and 4.00% respectively. Stocks with significant price movements in the sector include Zooz Power Ltd. and NaaS Technology, with volatilities of 41.13%, 30.34%, and 16.85% respectively.
Best Buy is identified as the largest pure consumer electronics retailer in the US, with total sales of $43.5 billion projected for 2023, accounting for an 8.3% market share in North America. Over 33% of its sales come from brick-and-mortar stores, with mobile devices, computers, and appliances being its major categories. The company has seen significant growth in its e-commerce segment, especially during the COVID-19 pandemic, with online sales nearly doubling compared to pre-pandemic levels. Management anticipates that e-commerce will represent approximately 30% of total sales in the future.
