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NYSE:BBY

Best Buy (BBY) Stock Forecast, Price & News

$68.90
+0.53 (+0.78%)
(As of 09/28/2023 ET)
Compare
Today's Range
$67.76
$69.07
50-Day Range
$68.01
$84.94
52-Week Range
$60.78
$93.32
Volume
1.35 million shs
Average Volume
2.30 million shs
Market Capitalization
$15.00 billion
P/E Ratio
11.86
Dividend Yield
5.34%
Price Target
$80.67

Best Buy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.67 Rating Score
Upside/​Downside
17.1% Upside
$80.67 Price Target
Short Interest
Bearish
5.50% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.79
Upright™ Environmental Score
News Sentiment
0.94mentions of Best Buy in the last 14 days
Based on 14 Articles This Week
Insider Trading
Selling Shares
$12.21 M Sold Last Quarter
Proj. Earnings Growth
9.81%
From $6.22 to $6.83 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.83 out of 5 stars

Retail/Wholesale Sector

31st out of 212 stocks

Radio, Television, & Electronic Stores Industry

1st out of 2 stocks


BBY stock logo

About Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products. The company's stores also offer appliances, such as dishwashers, laundry, ovens, refrigerators, blenders, coffee makers, and vacuums; entertainment products consisting of drones, peripherals, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products; and other products, such as baby, food and beverage, luggage, outdoor living, and sporting goods. In addition, it provides consultation, delivery, design, installation, memberships, repair, set-up, technical support, health-related, and warranty-related services. The company offers its products through stores and websites under the Best Buy, Best Buy Ads, Best Buy Business, Best Buy Health, Buy Mobile, CST, Current Health, Geek Squad, Lively, Magnolia, Pacific Kitchen, Home, TechLiquidators, and Yardbird brands, as well as domain names comprising bestbuy.com, currenthealth.com, lively.com, techliquidators.com, yardbird.com, and bestbuy.ca. The company was formerly known as Sound of Music, Inc. Best Buy Co., Inc. was incorporated in 1966 and is headquartered in Richfield, Minnesota.

BBY Price History

BBY Stock News Headlines

MarketBeat Week in Review – 9/4 - 9/8 (BBY)
This market continues to be filled with contradictions, but the MarketBeat team is here to help you find the opportunities that continue to exist
Should Best Buy Be in Your Cart for the Holiday Season?
Big box consumer electronics retailer Best Buy Co. Inc. (NYSE: BBY) may be the last of its kind as the nation’s largest standalone pure-play consumer electronic
6.5 Million Americans Are DESPERATE for This New Drug from One Tiny Company
Decades of pent-up demand for this "first-ever" treatment could give you WINDFALL PROFITS... Click here to learn more >>>
Best Buy and the reluctant shopper. Sales fall as Americans pull back on spending
Best Buy sales and profits slid in the second quarter as the nation’s largest consumer electronics chain continues to wrestle with a pullback in spending on gadgets after Americans splurged during the pandemic
Why Is Best Buy (BBY) Down 10% Since Last Earnings Report?
Which of the Magnificent 7 Stocks Is the Best Buy Right Now?
6.5 Million Americans Are DESPERATE for This New Drug from One Tiny Company
Decades of pent-up demand for this "first-ever" treatment could give you WINDFALL PROFITS... Click here to learn more >>>
Best Buy Unveils Offers Starting October And Throughout Holiday Season
Best Buy’s Holiday Sneak Peek is Here
Best Buy Co: Dividend Insights
How Juicy Is Best Buy's 5% Yield?
Why Best Buy Stock Could Be an Underrated Buy Right Now
A Look at the Consumer Debt Situation
Best Buy Gets a Positive Quant Nod, But What Do the Charts Say?
These Analysts Revise Price Targets On Best Buy Following Q2 Results
See More Headlines
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BBY Company Calendar

Ex-Dividend for 7/6 Dividend
6/14/2023
Dividend Payable
7/06/2023
Last Earnings
8/29/2023
Ex-Dividend for 10/10 Dividend
9/18/2023
Today
9/28/2023
Dividend Payable
10/10/2023
Next Earnings (Estimated)
11/28/2023
Fiscal Year End
1/31/2024

Industry, Sector and Symbol

Industry
Radio, television, & electronic stores
Sub-Industry
Computer & Electronics Retail
CUSIP
08651610
Employees
90,000
Year Founded
1966

Price Target and Rating

Average Stock Price Forecast
$80.67
High Stock Price Forecast
$91.00
Low Stock Price Forecast
$69.00
Forecasted Upside/Downside
+17.3%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.67
Research Coverage
15 Analysts

Profitability

Net Income
$1.42 billion
Pretax Margin
3.74%

Debt

Sales & Book Value

Annual Sales
$46.30 billion
Cash Flow
$11.48 per share
Book Value
$13.03 per share

Miscellaneous

Free Float
216,419,000
Market Cap
$14.96 billion
Optionable
Optionable
Beta
1.54

Social Links

12 Stocks Corporate Insiders are Abandoning Cover

If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?

Get This Free Report

Key Executives

  • Ms. Corie Sue BarryMs. Corie Sue Barry (Age 48)
    CEO & Director
    Comp: $1.84M
  • Mr. Matthew M. BilunasMr. Matthew M. Bilunas (Age 50)
    Sr. Exec. VP & Enterprise Strategy & CFO
    Comp: $1.12M
  • Mr. Brian A. TilzerMr. Brian A. Tilzer (Age 52)
    Exec. VP and Chief Digital, Analytics & Technology Officer
    Comp: $1.04M
  • Mr. Todd Gregory Hartman (Age 56)
    Exec. VP, Gen. Counsel, Sec. & Chief Risk Officer
    Comp: $1M
  • Ms. Kamy Scarlett (Age 59)
    Sr. Exec. VP of HR, Corp. Affairs & Canada
    Comp: $1.19M
  • Mr. Richard M. SchulzeMr. Richard M. Schulze (Age 82)
    Founder & Chairman Emeritus
  • Mr. Mathew Raymond Watson (Age 52)
    Sr. VP of Fin., Controller & Chief Accounting Officer
  • Ms. Mollie O'Brien
    VP of Investor Relations
  • Ms. Keri Grafing
    Chief Compliance Officer
  • Mr. Jeff Haydock
    Chief Communications & Public Affairs Officer













BBY Stock - Frequently Asked Questions

Should I buy or sell Best Buy stock right now?

15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 1 sell rating, 3 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" BBY shares.
View BBY analyst ratings
or view top-rated stocks.

What is Best Buy's stock price forecast for 2023?

15 equities research analysts have issued 1 year target prices for Best Buy's shares. Their BBY share price forecasts range from $69.00 to $91.00. On average, they anticipate the company's stock price to reach $80.67 in the next year. This suggests a possible upside of 17.3% from the stock's current price.
View analysts price targets for BBY
or view top-rated stocks among Wall Street analysts.

How have BBY shares performed in 2023?

Best Buy's stock was trading at $80.21 at the start of the year. Since then, BBY stock has decreased by 14.3% and is now trading at $68.75.
View the best growth stocks for 2023 here
.

Are investors shorting Best Buy?

Best Buy saw a increase in short interest in the month of September. As of September 15th, there was short interest totaling 10,640,000 shares, an increase of 6.0% from the August 31st total of 10,040,000 shares. Based on an average daily volume of 2,180,000 shares, the days-to-cover ratio is currently 4.9 days. Approximately 5.5% of the company's shares are sold short.
View Best Buy's Short Interest
.

When is Best Buy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 28th 2023.
View our BBY earnings forecast
.

How were Best Buy's earnings last quarter?

Best Buy Co., Inc. (NYSE:BBY) posted its earnings results on Tuesday, August, 29th. The technology retailer reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.16. The technology retailer earned $9.58 billion during the quarter, compared to analyst estimates of $9.52 billion. Best Buy had a net margin of 2.91% and a trailing twelve-month return on equity of 49.40%. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS.
Read the conference call transcript
.

How often does Best Buy pay dividends? What is the dividend yield for Best Buy?

Best Buy announced a quarterly dividend on Tuesday, August 29th. Investors of record on Tuesday, September 19th will be paid a dividend of $0.92 per share on Tuesday, October 10th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Monday, September 18th.
Read our dividend analysis for BBY
.

Is Best Buy a good dividend stock?

Best Buy (NYSE:BBY) pays an annual dividend of $3.68 per share and currently has a dividend yield of 5.41%. 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 63.34%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 53.88% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BBY.

What guidance has Best Buy issued on next quarter's earnings?

Best Buy issued an update on its FY 2024 earnings guidance on Tuesday, August, 29th. The company provided earnings per share (EPS) guidance of $6.00-$6.40 for the period, compared to the consensus earnings per share estimate of $6.08. The company issued revenue guidance of $43.80 billion-$44.50 billion, compared to the consensus revenue estimate of $44.30 billion.

What is Corie Barry's approval rating as Best Buy's CEO?

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.

What other stocks do shareholders of Best Buy own?

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).

What is Best Buy's stock symbol?

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

Who are Best Buy's major shareholders?

Best Buy's stock is owned by a variety of institutional and retail investors. Top institutional investors include BlackRock Inc. (9.35%), State Street Corp (4.62%), Charles Schwab Investment Management Inc. (2.02%), Geode Capital Management LLC (1.95%), Dimensional Fund Advisors LP (1.22%) and Northern Trust Corp (1.19%). 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, Rajendra M Mohan, Rajendra M Mohan, Richard M Schulze, Robert L Bass and Todd G Hartman.
View institutional ownership trends
.

How do I buy shares of Best Buy?

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.
Compare Top Brokerages Here.

What is Best Buy's stock price today?

One share of BBY stock can currently be purchased for approximately $68.75.

How much money does Best Buy make?

Best Buy (NYSE:BBY) has a market capitalization of $14.96 billion and generates $46.30 billion in revenue each year. The technology retailer earns $1.42 billion in net income (profit) each year or $5.81 on an earnings per share basis.

How many employees does Best Buy have?

The company employs 90,000 workers across the globe.

Does Best Buy have any subsidiaries?
The following companies are subsidiares of Best Buy: Current Health Inc. , Prospero II Master Tenant LLC, Lily Solar Lessee LLC, Little Bear Master Tenant LLC, Nichols Distribution LLC, Best Buy Stores Puerto Rico LLC, BBC Investment Co., BBC Property Co., BBY Canada Finance LLC, BBY Holdings International Inc., BBY Mauritius I Ltd., BBY Mauritius II Ltd., BBY Mauritius III Ltd., BBY Networks Inc., BBY Services Inc., BBY Solutions Inc., Best Buy AsiaPacific Limited, Best Buy Canada Ltd. / Magasins Best Buy LTEE , Best Buy China, Best Buy China Holdings Ltd., Best Buy China Ltd., Best Buy Distributions Limited, Best Buy Enterprise Services Inc., Best Buy Enterprises S. de R.L. de C.V., Best Buy Finance Inc., Best Buy Health Inc, Best Buy Imports S. de R.L. de C.V., Best Buy International Finance S.à r.l., Best Buy Product Protection Inc., Best Buy Puerto Rico Holdings LLC, Best Buy Purchasing LLC , Best Buy Shanghai Ltd., Best Buy Stores L.P. , Best Buy Stores S. de R.L. de C.V., Best Buy Texas.com LLC, Best Buy Warehousing Logistics LLC, BestBuy.com LLC, CCL Insurance Company, CP Gal Richfield LLC, Critical Signal Technologies, Current Health Limited, Current Health Ltd., Dealtree, ExB Hong Kong Limited, Five Star Appliance, GC Buyer Inc, GTL Incorporated , Geek Squad, Jiangsu Five Star Appliance, Lively, Magnolia Hi-Fi, Magnolia Hi-Fi LLC , Musicland Stores Corporation, Napster, Pacific Sales, Pacific Sales Kitchen and Bath Centers LLC, Partsearch Technologies Inc., ProTheo III LLC, ProTheo IV LLC, ProTheo Inc., ProTheo V LLC, Speakeasy, Swirl Networks, Two Peaks LLC 3, Two Peaks LLC d/b/a Yardbird Furniture, USB RETC Fund 2019-7 LLC, USB RETC Fund 2020-12 LLC, USB RETC Fund 2020-19 LLC, and mindSHIFT Technologies.
Read More
How can I contact Best Buy?

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.

This page (NYSE:BBY) was last updated on 9/28/2023 by MarketBeat.com Staff

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