Best Buy (BBY)
Background: Best Buy operates in a single business segment, selling personal computers and other home office products, consumer electronics, entertainment software, major appliances and related accessories principally through its retail stores. Best Buy trades an average of 11.4 million shares per day with a marketcap of $6.6 billion.
52-Week Range: $16.97 to $28.52BBY is forecast to record lower first quarter earnings before the market opens on Aug. 21. The consensus estimate is currently 31 cents a share, a drop of 16 cents (34%) from 47 cents during the equivalent quarter last year. A poor earnings report is largely baked into the cake, and the most significant catalyst is if the company goes private or not. The recent stock price moves suggests the odds are tipping in favor of a buyout. Some of what is in the media may be lip service to get the large short interest to cover, but I for one would not want to be short in front of what could be a very large steamroller. Best Buy currently distributes 64 cents per share in yearly dividends for a yield of 3.31%. Looking back at the three-year history of declared dividends, this company has paid on average 59 cents per share each year in dividend payments. Over the last five years, the dividend has grown by an average of 11.5% per year.
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