Best Buy Stock Forecast, Price & News

Best Buy's stock was trading at $65.37 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization (WHO). Since then, BBY stock has increased by 62.1% and is now trading at $105.97.
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21 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 6 hold ratings and 15 buy ratings for the stock, resulting in a consensus recommendation of "Buy."
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Best Buy is scheduled to release its next quarterly earnings announcement on Tuesday, November 24th 2020.
View our earnings forecast for Best Buy.

Best Buy Co Inc (NYSE:BBY) issued its quarterly earnings results on Tuesday, August, 25th. The technology retailer reported $1.71 EPS for the quarter, topping the consensus estimate of $1.09 by $0.62. The technology retailer earned $9.91 billion during the quarter, compared to analysts' expectations of $9.79 billion. Best Buy had a net margin of 3.75% and a return on equity of 48.82%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS.
View Best Buy's earnings history.

Best Buy declared a quarterly dividend on Tuesday, August 25th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.55 per share on Tuesday, October 6th. This represents a $2.20 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, September 14th.
View Best Buy's dividend history.

Best Buy announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 27th 2019, which authorizes the company to buyback $3,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 18.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

21 analysts have issued 1-year price objectives for Best Buy's shares. Their forecasts range from $70.00 to $135.00. On average, they expect Best Buy's stock price to reach $101.55 in the next twelve months. This suggests that the stock has a possible downside of 4.2%.
View analysts' price targets for Best Buy.

Best Buy saw a drop in short interest during the month of August. As of August 31st, there was short interest totaling 5,460,000 shares, a drop of 11.1% from the August 15th total of 6,140,000 shares. Based on an average trading volume of 2,680,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.4% of the shares of the stock are sold short.
View Best Buy's Short Interest.

Some companies that are related to Best Buy include GOME ELECTRICAL/ADR (GMELY), Conn's (CONN), Yosen Group (YOSN), DBUB Group (DBUB) and hhgregg (HGGGQ).
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Based on aggregate information from My MarketBeat watchlists, some companies that other Best Buy investors own include Intel (INTC), NVIDIA (NVDA), Cisco Systems (CSCO), Home Depot (HD), Micron Technology (MU), Advanced Micro Devices (AMD), Alibaba Group (BABA), Walt Disney (DIS), Bank of America (BAC) and QUALCOMM (QCOM).

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 Vanguard Group Inc. (11.40%), FMR LLC (6.65%), AQR Capital Management LLC (1.82%), Charles Schwab Investment Management Inc. (1.23%), Bank of New York Mellon Corp (1.18%) and LSV Asset Management (1.14%). Company insiders that own Best Buy stock include Allison Peterson, Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Keith J Nelsen, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Richard M Schulze, Todd G Hartman, Victor Kathy J Higgins and Whitney L Alexander.
View institutional ownership trends for Best Buy.

BBY stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Balyasny Asset Management LLC, Prudential PLC, Glenmede Trust Co. NA, American International Group Inc., First Trust Advisors LP, Robeco Institutional Asset Management B.V., and Ceredex Value Advisors LLC. Company insiders that have sold Best Buy company stock in the last year include Allison Peterson, Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Richard M Schulze, Todd G Hartman, and Whitney L Alexander.
View insider buying and selling activity for Best Buy.

BBY stock was acquired by a variety of institutional investors in the last quarter, including Vanguard Group Inc., Charles Schwab Investment Management Inc., Two Sigma Advisers LP, AQR Capital Management LLC, Raymond James Financial Services Advisors Inc., Marshall Wace North America L.P., Man Group plc, and Meritage Portfolio Management.
View insider buying and selling activity for Best Buy.

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

One share of BBY stock can currently be purchased for approximately $105.97.

Best Buy has a market capitalization of $27.43 billion and generates $43.64 billion in revenue each year. The technology retailer earns $1.54 billion in net income (profit) each year or $6.07 on an earnings per share basis. Best Buy employs 125,000 workers across the globe.

The official website for Best Buy is www.bestbuy.com.

Best Buy's mailing address is 7601 PENN AVE SOUTH, RICHFIELD MN, 55423. The technology retailer can be reached via phone at 612-291-1000 or via email at [email protected]