Ahead of Best Buy (BBY) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics

Wall Street analysts expect Best Buy (BBY) to post quarterly earnings of $1.30 per share in its upcoming report, which indicates a year-over-year increase of 0.8%. Revenues are expected to be $9.63 billion, down 1.3% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.In light of this perspective, let's dive into the average estimates of certain Best Buy metrics that are commonly tracked and forecasted by Wall Street analysts.The combined assessment of analysts suggests that 'Revenue by Product Category- Domestic- Computing and Mobile Phones' will likely reach $3.99 billion. The estimate points to a change of +1.4% from the year-ago quarter.Analysts predict that the 'Revenue by Product Category- Domestic- Consumer Electronics' will reach $2.53 billion. The estimate indicates a year-over-year change of -2.1%.Analysts' assessment points toward 'Revenue by Product Category- Domestic- Appliances' reaching $1.17 billion. The estimate suggests a change of -5.5% year over year.The consensus estimate for 'Revenue by Product Category- Domestic- Entertainment' stands at $525.79 million. The estimate indicates a change of -11.5% from the prior-year quarter.Analysts forecast 'Geographic Revenue- Domestic' to reach $8.87 billion. The estimate indicates a year-over-year change of -1.4%.The average prediction of analysts places 'Geographic Revenue- International' at $753.05 million. The estimate suggests a change of -0.9% year over year.It is projected by analysts that the 'Number of stores - International - Total' will reach 160. Compared to the current estimate, the company reported 160 in the same quarter of the previous year.Analysts expect 'Number of stores - Domestic - Pacific Sales Stores' to come in at 20. The estimate compares to the year-ago value of 20.The consensus among analysts is that 'Number of stores - International - Canada Best Buy Stores' will reach 129. The estimate compares to the year-ago value of 128.Based on the collective assessment of analysts, 'Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores' should arrive at 31. Compared to the present estimate, the company reported 32 in the same quarter last year.According to the collective judgment of analysts, 'Number of stores - Domestic - U.S. Best Buy Stores' should come in at 889. The estimate is in contrast to the year-ago figure of 901.The collective assessment of analysts points to an estimated 'Number of stores - Domestic - Total' of 959. Compared to the current estimate, the company reported 963 in the same quarter of the previous year.View all Key Company Metrics for Best Buy here>>>Over the past month, shares of Best Buy have returned -7.1% versus the Zacks S&P 500 composite's +1% change. Currently, BBY carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Best Buy Co., Inc. (BBY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks