NEW YORK (TheStreet) -- Best Buy Co. (BBY) - Get Report stock is gaining 1.29% to $31.32 in afternoon trading on Wednesday before the electronics retailer reports its fiscal 2016 fourth quarter financial results Thursday before the market open.
The Minneapolis-based company is expected to deliver a year-over-year decline in earnings per share and revenue.
Wall Street is anticipating earnings of $1.39 per share on $13.61 billion in revenue for the latest quarter.
Last year, the retailer posted earnings of $1.48 per share on revenue of $14.21 billion for the fiscal 2015 fourth quarter that ended January 31, 2015.
Additionally, Best Buy's fiscal 2017 guidance is expected to show "subdued sales and operating income forecasts given the company's conservative nature, ongoing challenges in the [consumer electronics] sector, and continued investments from the chain," Oppenheimer analysts said in a note earlier this month.
Separately, Best Buy has a "hold" rating and a letter grade of C+ at TheStreet Ratings because of the company's strengths, such as increase in net income, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures, and its weaknesses, including weak operating cash flow, generally disappointing stock performance and disappointing return on equity.
You can view the full analysis from the report here: BBY
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.