Best Buy (BBY) Stock Forecast, Price & News

17 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last twelve months. There are currently 1 sell rating, 6 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" BBY shares.
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17 Wall Street analysts have issued 12-month price objectives for Best Buy's shares. Their BBY share price forecasts range from $62.00 to $91.00. On average, they anticipate the company's share price to reach $78.44 in the next twelve months. This suggests a possible upside of 7.9% from the stock's current price.
View analysts price targets for BBY or view top-rated stocks among Wall Street analysts.

Best Buy's stock was trading at $80.21 at the beginning of the year. Since then, BBY shares have decreased by 9.4% and is now trading at $72.67.
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Best Buy saw a increase in short interest during the month of April. As of April 30th, there was short interest totaling 11,640,000 shares, an increase of 11.8% from the April 15th total of 10,410,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is currently 5.2 days. Approximately 6.0% of the company's stock are short sold.
View Best Buy's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 29th 2023.
View our BBY earnings forecast.

Best Buy Co., Inc. (NYSE:BBY) released its quarterly earnings results on Thursday, May, 25th. The technology retailer reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. The technology retailer earned $9.47 billion during the quarter, compared to analysts' expectations of $9.53 billion. Best Buy had a trailing twelve-month return on equity of 51.95% and a net margin of 2.93%. The firm's revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.57 earnings per share.
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Best Buy declared a quarterly dividend on Thursday, May 25th. Investors of record on Thursday, June 15th will be paid a dividend of $0.92 per share on Thursday, July 6th. This represents a $3.68 annualized dividend and a yield of 5.06%. The ex-dividend date is Wednesday, June 14th.
Read our dividend analysis for BBY.

ETFs with the largest weight of Best Buy (NYSE:BBY) stock in their portfolio include WisdomTree U.S. Value Fund (WTV), Invesco S&P Ultra Dividend Revenue ETF (RDIV), Vesper U.S. Large Cap Short-Term Reversal Strategy ETF (UTRN), The Acquirers Fund (ZIG), Invesco High Yield Equity Dividend Achievers ETF (PEY), 2ndVote Society Defended ETF (EGIS), ALPS Sector Dividend Dogs ETF (SDOG) and AAM S&P 500 High Dividend Value ETF (SPDV).

Best Buy (NYSE:BBY) pays an annual dividend of $3.68 per share and currently has a dividend yield of 4.95%. BBY has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 20 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 62.27%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 52.50% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BBY.

Best Buy issued an update on its FY 2024 earnings guidance on Tuesday, May, 30th. The company provided earnings per share (EPS) guidance of $5.70-$6.50 for the period, compared to the consensus EPS estimate of $6.17. The company issued revenue guidance of $43.80 billion-$45.20 billion, compared to the consensus revenue estimate of $44.53 billion.

1,251 employees have rated Best Buy Chief Executive Officer Corie Barry on Glassdoor.com. Corie Barry has an approval rating of 75% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Best Buy investors own include NVIDIA (NVDA), Intel (INTC), Home Depot (HD), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Micron Technology (MU), Bank of America (BAC), Walt Disney (DIS), QUALCOMM (QCOM) and Alibaba Group (BABA).

Best Buy trades on the New York Stock Exchange (NYSE) under the ticker symbol "BBY."

Best Buy's stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (8.97%), State Street Corp (4.64%), Price T Rowe Associates Inc. MD (4.52%), Charles Schwab Investment Management Inc. (1.96%), Geode Capital Management LLC (1.93%) and FMR LLC (1.28%). Insiders that own company stock include Allison Peterson, Brian A Tilzer, Corie S Barry, Corie S Barry, Damien Harmon, Deborah Disanzo Eldracher, Jason J Bonfig, Kathleen Scarlett, Mario Jesus Marte, Mathew Watson, Matthew M Bilunas, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Rajendra M Mohan, Richard M Schulze, Robert L Bass, Todd G Hartman, Todd G Hartman, Whitney L Alexander and Whitney L Alexander.
View institutional ownership trends.

Shares of BBY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of BBY stock can currently be purchased for approximately $72.67.

Best Buy (NYSE:BBY) has a market capitalization of $15.89 billion and generates $46.30 billion in revenue each year. The technology retailer earns $1.42 billion in net income (profit) each year or $5.91 on an earnings per share basis.

The company employs 90,000 workers across the globe.

Best Buy's mailing address is 7601 PENN AVE SOUTH, RICHFIELD MN, 55423. The official website for the company is www.bestbuy.com. The technology retailer can be reached via phone at (612) 291-1000, via email at investorrelations@bestbuy.com, or via fax at 612-292-4001.