Countdown to Best Buy (BBY) Q3 Earnings: Wall Street Forecasts for Key Metrics

Wall Street analysts expect Best Buy (BBY) to post quarterly earnings of $1.31 per share in its upcoming report, which indicates a year-over-year increase of 4%. Revenues are expected to be $9.58 billion, up 1.4% from the year-ago quarter.The current level reflects an upward revision of 0.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.Given this perspective, it's time to examine the average forecasts of specific Best Buy metrics that are routinely monitored and predicted by Wall Street analysts.The collective assessment of analysts points to an estimated 'Revenue by Product Category- Domestic- Computing and Mobile Phones' of $4.04 billion. The estimate points to a change of -0.5% from the year-ago quarter.According to the collective judgment of analysts, 'Revenue by Product Category- Domestic- Consumer Electronics' should come in at $2.47 billion. The estimate suggests a change of +1.8% year over year.The consensus estimate for 'Revenue by Product Category- Domestic- Appliances' stands at $1.05 billion. The estimate suggests a change of -0.6% year over year.The average prediction of analysts places 'Revenue by Product Category- Domestic- Entertainment' at $484.72 million. The estimate indicates a change of +1.2% from the prior-year quarter.Analysts predict that the 'Geographic Revenue- Domestic' will reach $8.76 billion. The estimate points to a change of +0.8% from the year-ago quarter.The consensus among analysts is that 'Geographic Revenue- International' will reach $786.21 million. The estimate indicates a change of +5.1% from the prior-year quarter.Analysts' assessment points toward 'Number of stores - International - Total' reaching 156 . The estimate is in contrast to the year-ago figure of 160 .Analysts forecast 'Number of stores - Domestic - Pacific Sales' to reach 20 . The estimate compares to the year-ago value of 20 .It is projected by analysts that the 'Number of stores - International - Canada Best Buy Stores' will reach 128 . The estimate is in contrast to the year-ago figure of 129 .Analysts expect 'Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores' to come in at 28 . Compared to the present estimate, the company reported 31 in the same quarter last year.The combined assessment of analysts suggests that 'Number of stores - Domestic - Best Buy' will likely reach 883 . The estimate is in contrast to the year-ago figure of 889 .Based on the collective assessment of analysts, 'Number of stores - Domestic - Total' should arrive at 948 . The estimate compares to the year-ago value of 957 . View all Key Company Metrics for Best Buy here>>> Over the past month, Best Buy shares have recorded returns of -8.6% versus the Zacks S&P 500 composite's -0.3% change. Based on its Zacks Rank #3 (Hold), BBY will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks