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Best Buy Co., Inc. Message Board

  • mitt_romney_4_prez mitt_romney_4_prez May 22, 2012 7:08 AM Flag

    cash flow & short squeeze

    All I care about in today's earnings are continued profits & buying back shares until there's no shares left to buy back. Last qtr, BBY spent $317 mill to repurchase 12.8 mill shs. If the same amt is spent now that the shares are around $18/sh, it would be 17.6 mill shs. I say let the share price sag. The more the share price stays depressed, the better for the long term holders. This assume BBY is still making about $1.5 bill yr; which everyone seems to project they will. There’s only 348 mill shs o/s diluted. At this pace, all shares will be gone in less than 5 years. Also, BBY’s Balance Sheet looks to be in good shape given the ongoing share buybacks. BBY has about $2.2 bill in debt; vs. about $10.4 bill in current assets; including $1.2 billion in cash.

 
BBY
31.74-0.53(-1.64%)May 3 4:00 PMEDT