3 Zacks Rank #1s with Growth AND Value

Whether it’s a business deal, a job, a relationship or your favorite brand of toothpaste at the supermarket; nobody likes to just settle for something. It means we’re accepting less than the best… usually because it’s easy.

And when it comes to investing, it means we’re making less money than we could. If you want to invest in Growth AND Value… you should be able to do it! And Zacks can help.

We’ve got a screen that not only helps you find big growth rates and low valuations, but also adds the power of the Zacks Rank. This screen is ingeniously titled: BBY

It’s scary to think where this country would’ve been in this pandemic without technology. It allowed millions of people to work from home and students to learn from home during an unprecedented shutdown. We were able to stay in close contact with loved ones in quarantine. And technology provided gaming and streaming options to keep the family occupied so you can have just a few sweet moments of solitude before resuming your government-mandated house arrest with those lovely people.

Throughout all these circumstances, Best Buy (BBY) was there with the consumer electronics necessary to keep things going when Covid locked things up. The dependence on technology led to 14 straight quarters of positive surprises for the company, including a more than 56% beat in its recently reported fiscal second quarter.

BBY is part of the Retail – Consumer Electronics space, which means it’s in the top 13% of the Zacks Industry Rank. The company has been focused on developing its omni-channel capabilities, improving the supply chain and cost-containment efforts. It’s really been paying off!

Earnings per share reached $2.98 in its fiscal second quarter, which trounced the Zacks Consensus Estimate by more than $1.

Enterprise revenues jumped nearly 20% to $11.85 billion, compared to our expectation of $11.6 billion. Enterprise comp sales increased by the same percentage. Key drivers in the quarter were computing, mobile phones, home theater, appliances and services.

Best of all though, BBY expects continued customer demand and solid momentum. In fact, it now sees enterprise comparable sales increasing between 9% and 11% for fiscal 2022, compared to the previous outlook of 3% to 6%.

The Zacks Consensus Estimate for this fiscal year (ending January 2022) is up to $9.95, which has advanced 16.9% in just two months. The expectation for next year (ending January 2023) is only at $9.54, which is up 9.3% in two months but down year over year. However, there’s plenty of time for that to improve as consumers are unlikely to throw their computers, TVs and gaming systems away in the future.

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Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

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Written By: Zacks Investment Research