NEW YORK (TheStreet) -- Shares of Best Buy (BBY) are down by 1.46% to $34.47 in mid-morning trading on Wednesday, one day prior to the release of the electronics retailer's fiscal 2016 first quarter earnings results, which analysts are expecting to decline year-over-year.
Best Buy will release its earnings data before the market open on Thursday morning.
The company has been forecast to report earnings of 29 cents per share on revenue of $8.46 billion for the most recent quarter.
For the fiscal 2015 first quarter Best Buy said its non-GAAP earnings were 33 cents per share on revenue of $9.04 billion.
The Richfield, MN.-based retailer sells a variety of electronics and household necessities including tablets, computers, phones, cameras, large and small appliances and home theater entertainment systems, as well as DVDs and video games.
Separately, TheStreet Ratings team rates BEST BUY CO INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BEST BUY CO INC (BBY) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, solid stock price performance, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins."