NEW YORK (TheStreet) -- Shares of Best Buy Co. (BBY) - Get Report are increasing 0.93% to $32.54 in early afternoon trading Friday after the company reported its 2015 fourth quarter results after yesterday's market open.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUScharitable trust, said he is intrigued by Best Buy because the iPhone 7 is going to come out.
"It's been a hole, they haven't been able to sell cell phones that well, tablets haven't been that good, big screen TVs just ok, home theaters have been good," he said.
"But Best Buy? There's no reason to own the stock when you have a stock like Home Depot (HD) that's not up as much as it should be after they reported that great quarter," Cramer added.
The Richfield, MN-based consumer electronics retailer posted earnings of $1.53 per diluted share, topping analysts' expectations for earnings of $1.39 per share.
Revenue dropped 4.1% to $13.62 billion, but surpassed Wall Street's estimates of $13.61 billion.
Comparable sales in the U.S. fell 1.7% during the period. Analysts were expecting a decline of 1.3%.
Additionally, Best Buy said it would repurchase up to $1 billion shares over the next two years and announced a special dividend of 45 cents per share.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its increase in net income, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures.
As a counter to these strengths, the team also finds weaknesses including weak operating cash flow, a generally disappointing performance in the stock itself and disappointing return on equity.
Recently, 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.
You can view the full analysis from the report here: BBY