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Earnings Preview: What To Expect From Best Buy On Tuesday
The Tycoon Herald > Money > Earnings Preview: What To Expect From Best Buy On Tuesday
Money

Earnings Preview: What To Expect From Best Buy On Tuesday

Tycoon Herald
By Tycoon Herald 3 Min Read Published November 22, 2021
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CHICAGO – FEBRUARY 04: A worker is seen outside the front facade of a new Best Buy store under … [+] construction February 4, 2005 in Chicago, Illinois. Best Buy Co., Inc. says they are planning to open 73 new stores in the United States and Canada during its 2006 fiscal year, which begins February 27, 2005. Best Buy says the new stores are expected to introduce more than 8,700 new retail management, sales and service jobs to communities in both the United States and Canada. (Photo by Tim Boyle/Getty Images)

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Best Buy Inc. is scheduled to report earnings before Tuesday’s open. The stock just hit a record high of $141.97 and is trading near that level. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down. To help you prepare, here is what the Street is expecting:

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Earnings Preview:

The company is expected to report earnings of $1.93/share on $11.45 billion in revenue. Meanwhile, the so-called Whisper number is a gain of $2.17/share. The Whisper number is the Street’s unofficial view on earnings.

A Closer Look At The Fundamentals:

The company continues to thrive even as many other retailers struggle. Best Buy has positioned itself as the “go-to” retailer for just about all things electronic. It will be interesting to see what happens with earnings going forward.

A Closer Look At The Technicals:

Technically, the stock has soared nearly 40% over the past few weeks and just hit a new record high. This is very strong action by any measure for any stock, especially, for a company as large as Best Buy. In the short-term the stock is extended to the upside and due to pullback. Intermediate and longer-term the stock is acting great.

MORE FOR YOU

Pay Attention To How The Stock Reacts To The News:

From where I sit, the most important trait I look for during earnings season is how the market and a specific company reacts to the news. Remember, always keep your losses small and never argue with the tape.

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