Assessing the Impact of BBY’s Earnings Results on Its Valuation
Best Buy’s (BBY) 12-month forward PE ratio fell 7.9% to 14.8x on August 28, the day the company announced its results for the fiscal second quarter of 2019. Best Buy’s fiscal second-quarter results exceeded analysts’ expectations, and the company raised its revenue and earnings guidances for fiscal 2019. As of August 29, Best Buy was trading at a 12-month forward PE of 14.8x.