BUZZ-PREVIEW: Best Buy seen reporting Q4 EPS, rev drop y/y

Reuters
04 Mar
BUZZ-PREVIEW: Best Buy seen reporting Q4 EPS, rev drop y/y

** Shares in Best Buy BBY.N down 1.7% on Monday ahead of fiscal Q4 report due out before market open on Tuesday

** Wall Street sees the electronics retailer reporting adj EPS of $2.40 down almost 12% from $2.72 in year-ago quarter on rev of $13.7 bln, down more than 6% from $14.65 bln year-ago, according to latest LSEG data

** In last 8 quarters BBY rev met or beat expectations just four times while EPS beat 7 times

** In Nov BBY had trimmed its annual forecasts, joining host of U.S. retailers who had signaled promotion-heavy holiday sales season with customers cautious on spending for big-ticket items such as TVs, home theater systems

** BBY last traded at $88.38 vs median PT of $100, as per LSEG, which shows 29 analyst ratings: 3 'strong buy,' 7 'buy', 18 'hold' and 1 'sell'

** YTD stock up 2.9% vs drop of 6.8% for S&P 500 consumer discretionary index .SPLRCD

(Reporting By Sinéad Carew)

((sinead.carew@thomsonreuters.com; +13322191897;))

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