BBY stock is at yearly lows even after an earnings beat. Time buy and oversold and underloved Best Buy. Shares of Best Buy (NYSE:BBY) are finally firming after reaching new lows. This was even after an earnings report that beat on both the top and bottom line. EPS came in at $2.08 versus expectations of $1.91. Revenues of $11.91 also topped forecasts of $11.58 billion. Same store sales rose 2% compared to company guidance of flat to down 3%. The combination of a sharply lower stock price with better earnings makes it time to buy Best Buy.
Best Buy is a B rated stock with a Buy rating. It is in a B rated Industry and checks in well above average at 17th out of 45 stocks in the industry. Value and Momentum are both B rated as well.
Valuations have come down sharply over the past month as BBY stock fell. Current P/E is now back below 10x. P/S stands at just .48x. Certainly cheap is an understatement, especially when compared to the S&P 500 multiples of roughly 23x and 3x.
