Best Buy Co Inc (NYSE: BBY) posted better-than-expected results for the second quarter (Q2).
Q2 sales were $9.58 billion, beating the analyst consensus estimate of $9.52 billion. Adjusted EPS of $1.22 beat the analyst consensus of $1.06.
For the fiscal year of 2024, the company revised guidance for revenue to $43.8 billion-$44.5 billion from $43.8 billion-$45.2 billion (the Street view was $44.3 billion).
It now expects a comparable sales decline of 4.5% to 6% (vs. 3% to 6% earlier).
Telsey Advisory Group analyst Joseph Feldman maintains Best Buy with a Market Perform and raised the price target from $78 to $85.
Dividends: BBY currently offers an annual dividend yield of 4.78%, which is a quarterly dividend ...