Best Buy Co., Inc. (NYSE:BBY) Declares Quarterly Dividend of $0.95

Key Points

• Best Buy Co., Inc. has declared a quarterly dividend of $0.95 per share, with an annualized yield of 5.0%, payable on October 9th to investors of record on September 18th.
• The company reported earnings per share of $1.28 for the latest quarter, exceeding analysts' expectations, and anticipates earnings of $6.18 for the current fiscal year.
• Best Buy's stock has a current market capitalization of $15.95 billion and has received mixed ratings from analysts, with a consensus target price of $84.50.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) declared a quarterly dividend on Thursday, August 28th, RTT News reports. Investors of record on Thursday, September 18th will be paid a dividend of 0.95 per share by the technology retailer on Thursday, October 9th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

Best Buy has a payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Best Buy to earn $6.63 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 57.3%.

Best Buy Stock Up 2.4%

Shares of NYSE BBY opened at $75.45 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $15.95 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21. The stock's fifty day simple moving average is $69.60 and its two-hundred day simple moving average is $71.67. Best Buy has a 12-month low of $54.99 and a 12-month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The firm had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.23 billion. During the same period in the prior year, the business posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, analysts expect that Best Buy will post 6.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on BBY. BNP Paribas raised shares of Best Buy to a "hold" rating in a report on Friday, May 30th. Truist Financial upped their target price on Best Buy from $64.00 to $69.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Guggenheim reiterated a "buy" rating and issued a $90.00 price target on shares of Best Buy in a research note on Tuesday, June 10th. JPMorgan Chase & Co. dropped their price target on Best Buy from $95.00 to $88.00 and set an "overweight" rating on the stock in a research note on Friday, August 22nd. Finally, Wedbush dropped their target price on Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Best Buy has a consensus rating of "Hold" and a consensus target price of $84.50.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.

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