Best Buy (NYSE: BBY ) is expected to report Q2 earnings on Aug. 21. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Best Buy's revenues will decrease -6.2% and EPS will compress -31.9%.
The average estimate for revenue is $10.64 billion. On the bottom line, the average EPS estimate is $0.32.
Last quarter, Best Buy logged revenue of $11.61 billion. GAAP reported sales were 2.1% higher than the prior-year quarter's $11.37 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, non-GAAP EPS came in at $0.72. GAAP EPS of $0.46 for Q1 were 13% lower than the prior-year quarter's $0.53 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 25.0%, 70 basis points worse than the prior-year quarter. Operating margin was 3.4%, 70 basis points worse than the prior-year quarter. Net margin was 1.4%, 50 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $49.60 billion. The average EPS estimate is $3.60.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 2,736 members out of 3,481 rating the stock outperform, and 745 members rating it underperform. Among 884 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 685 give Best Buy a green thumbs-up, and 199 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Best Buy is hold, with an average price target of $27.64.
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