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The Day of Financial Reckoning Is Near (Ad)
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“No Historic Crash Is Coming, What’s NEXT, Is Much Worse…” (PhD Economist) (Ad)
S&P 500   4,305.20
DOW   34,152.01
QQQ   332.28
Companies facing 1st tax on stock buybacks in Biden bill
The Day of Financial Reckoning Is Near (Ad)
Home Depot Results Point To Sluggish 2nd Half
Walmart Leads Retail Higher But Will The Group Follow? 
What's in big Biden bill? Health, climate goals become law
The Day of Financial Reckoning Is Near (Ad)
Biden to sign massive climate and health care legislation
Stocks edge mostly higher on Wall Street; Walmart lifts Dow
US futures turn around on strong performance from retailers
“No Historic Crash Is Coming, What’s NEXT, Is Much Worse…” (PhD Economist) (Ad)
S&P 500   4,305.20
DOW   34,152.01
QQQ   332.28
Companies facing 1st tax on stock buybacks in Biden bill
The Day of Financial Reckoning Is Near (Ad)
Home Depot Results Point To Sluggish 2nd Half
Walmart Leads Retail Higher But Will The Group Follow? 
What's in big Biden bill? Health, climate goals become law
The Day of Financial Reckoning Is Near (Ad)
Biden to sign massive climate and health care legislation
Stocks edge mostly higher on Wall Street; Walmart lifts Dow
US futures turn around on strong performance from retailers
“No Historic Crash Is Coming, What’s NEXT, Is Much Worse…” (PhD Economist) (Ad)
S&P 500   4,305.20
DOW   34,152.01
QQQ   332.28
Companies facing 1st tax on stock buybacks in Biden bill
The Day of Financial Reckoning Is Near (Ad)
Home Depot Results Point To Sluggish 2nd Half
Walmart Leads Retail Higher But Will The Group Follow? 
What's in big Biden bill? Health, climate goals become law
The Day of Financial Reckoning Is Near (Ad)
Biden to sign massive climate and health care legislation
Stocks edge mostly higher on Wall Street; Walmart lifts Dow
US futures turn around on strong performance from retailers
“No Historic Crash Is Coming, What’s NEXT, Is Much Worse…” (PhD Economist) (Ad)
NYSE:BBY

Best Buy - BBY Stock Forecast, Price & News

$84.95
+3.62 (+4.45%)
(As of 08/16/2022 12:00 AM ET)
Add
Compare
Today's Range
$81.47
$86.48
50-Day Range
$65.19
$81.33
52-Week Range
$64.29
$141.97
Volume
3.66 million shs
Average Volume
3.24 million shs
Market Capitalization
$19.13 billion
P/E Ratio
9.43
Dividend Yield
4.33%
Price Target
$87.25

Best Buy MarketRank™ Forecast

Analyst Rating
Hold
2.44 Rating Score
Upside/​Downside
2.7% Upside
$87.25 Price Target
Short Interest
Healthy
6.00% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.79
Upright™ Environmental Score
News Sentiment
0.32mentions of Best Buy in the last 14 days
Based on 14 Articles This Week
Insider Trading
Acquiring Shares
$19.90 M Bought Last Quarter
Proj. Earnings Growth
18.98%
From $6.69 to $7.96 Per Share

Overall MarketRank

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

3.06 out of 5 stars

Retail/Wholesale Sector

7th out of 218 stocks

Radio, Television, & Electronic Stores Industry

1st out of 2 stocks

BBY stock logo

About Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, 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, health-related, installation, memberships, repair, set-up, technical support, 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, CST, Current Health, Geek Squad, Lively, Magnolia, Best Buy Mobile, Pacific Kitchen, Home, and Yardbird, as well as domain names bestbuy.com, currenthealth.com, lively.com, yardbird.com, and bestbuy.ca. As of January 30, 2022, it had 1,144 stores. The company was formerly known as Sound of Music, Inc. The company was incorporated in 1966 and is headquartered in Richfield, Minnesota.

Best Buy Price Performance

BBY Stock traded up $3.62 during mid-day trading on Tuesday, hitting $84.95. 3,663,739 shares of the stock were exchanged, compared to its average volume of 3,235,307. The business has a fifty day moving average price of $73.37 and a 200 day moving average price of $86.17. Best Buy has a 12 month low of $64.29 and a 12 month high of $141.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.24. The stock has a market capitalization of $19.13 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 0.68 and a beta of 1.50.

Best Buy (NYSE:BBY - Get Rating) last released its earnings results on Tuesday, May 24th. The technology retailer reported $1.57 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.02). Best Buy had a return on equity of 63.39% and a net margin of 4.33%. The firm had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same quarter in the previous year, the firm earned $2.23 EPS. The business's quarterly revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Best Buy will post 6.69 EPS for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Tuesday, June 14th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.14%. The ex-dividend date was Monday, June 13th. Best Buy's dividend payout ratio is presently 39.07%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TheStreet lowered Best Buy from a "b-" rating to a "c+" rating in a report on Tuesday, July 5th. The Goldman Sachs Group restated a "sell" rating and set a $82.00 price objective (down previously from $96.00) on shares of Best Buy in a report on Tuesday, June 7th. DA Davidson increased their price target on Best Buy from $107.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, May 25th. Telsey Advisory Group lowered their target price on shares of Best Buy from $88.00 to $82.00 and set an "outperform" rating on the stock in a report on Thursday, July 28th. Finally, Guggenheim cut their price target on Best Buy from $100.00 to $85.00 and set a "buy" rating for the company in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $87.25.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze acquired 250,000 shares of the firm's stock in a transaction dated Wednesday, May 25th. The shares were purchased at an average price of $79.60 per share, for a total transaction of $19,900,000.00. Following the completion of the acquisition, the chairman now owns 20,464,051 shares in the company, valued at $1,628,938,459.60. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Richard M. Schulze purchased 250,000 shares of Best Buy stock in a transaction that occurred on Wednesday, May 25th. The shares were acquired at an average cost of $79.60 per share, for a total transaction of $19,900,000.00. Following the transaction, the chairman now directly owns 20,464,051 shares in the company, valued at $1,628,938,459.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Allison Peterson sold 1,646 shares of the business's stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $80.68, for a total value of $132,799.28. Following the completion of the sale, the insider now owns 39,030 shares of the company's stock, valued at approximately $3,148,940.40. The disclosure for this sale can be found here. Insiders sold a total of 63,011 shares of company stock worth $5,036,334 over the last three months. Company insiders own 0.44% of the company's stock.

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BBY Stock News Headlines

Best Buy cuts jobs after it cuts sales and profit outlook
Best Buy, the nation’s largest consumer electronics chain, is trimming jobs in an effort to adjust to new changes in consumer behavior as the virus wanes
Inflation weighs on back-to-school buying for many families
This back-to-school shopping season, parents are focusing on the basics while also trading down to cheaper stores as surging inflation takes a toll on their household budgets
Inflation and wage data suggest US prices will keep climbing
Inflation surged in June and workers’ average wages accelerated in the spring — signs that Americans won’t likely feel any relief from rising prices anytime soon and that the Federal Reserve will feel compelled to further raise borrowing costs
Best Buy cuts sales forecast as inflation tempers spending
Best Buy has cut its annual sales and profit forecast, citing surging inflation that has dampened consumer spending on gadgets
Best Buy cuts store jobs amid lower electronic sales
Best Buy cuts staff as consumers curb spending - WSJ
Best Buy cuts store jobs to shave costs - WSJ
Best Buy cutting 'hundreds' of store jobs: WSJ
Best Buy Cuts Store Jobs to Help Boost Profits
Piper Sandler Lowers Best Buy (NYSE:BBY) Price Target to $84.00
What 19 Analyst Ratings Have To Say About Best Buy
Best Buy (NYSE:BBY) Price Target Cut to $85.00
See More Headlines
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BBY Company Calendar

Last Earnings
5/24/2022
Ex-Dividend for 7/5 Dividend
6/13/2022
Dividend Payable
7/05/2022
Today
8/16/2022
Next Earnings (Confirmed)
8/30/2022
Fiscal Year End
1/31/2023

Industry, Sector and Symbol

Industry
Radio, television, & electronic stores
Sub-Industry
Computer & Electronics Retail
CUSIP
08651610
Employees
105,000
Year Founded
1966

Price Target and Rating

Average Stock Price Forecast
$87.25
High Stock Price Forecast
$147.00
Low Stock Price Forecast
$65.00
Forecasted Upside/Downside
+2.7%
Consensus Rating
Hold
Rating Score (0-4)
2.44
Research Coverage
16 Analysts

Profitability

Net Income
$2.45 billion
Pretax Margin
5.34%

Debt

Sales & Book Value

Annual Sales
$51.76 billion
Cash Flow
$14.80 per share
Book Value
$12.55 per share

Miscellaneous

Free Float
224,177,000
Market Cap
$19.13 billion
Optionable
Optionable
Beta
1.50

Social Links















BBY Stock - Frequently Asked Questions

Should I buy or sell Best Buy stock right now?

16 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last twelve months. There are currently 1 sell rating, 7 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" BBY shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BBY, but not buy additional shares or sell existing shares.
View BBY analyst ratings
or view top-rated stocks.

What is Best Buy's stock price forecast for 2022?

16 Wall Street analysts have issued 12 month price targets for Best Buy's stock. Their BBY share price forecasts range from $65.00 to $147.00. On average, they anticipate the company's stock price to reach $87.25 in the next twelve months. This suggests a possible upside of 2.7% 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 2022?

Best Buy's stock was trading at $101.60 at the beginning of the year. Since then, BBY shares have decreased by 16.4% and is now trading at $84.95.
View the best growth stocks for 2022 here
.

When is Best Buy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 30th 2022.
View our BBY earnings forecast
.

How can I listen to Best Buy's earnings call?

Best Buy will be holding an earnings conference call on Tuesday, August 30th at 8:00 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Best Buy's earnings last quarter?

Best Buy Co., Inc. (NYSE:BBY) released its quarterly earnings data on Tuesday, May, 24th. The technology retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.59 by $0.02. The technology retailer earned $10.65 billion during the quarter, compared to analyst estimates of $10.43 billion. Best Buy had a trailing twelve-month return on equity of 63.39% and a net margin of 4.33%. Best Buy's quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 EPS.
Read the conference call transcript
.

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

Best Buy declared a quarterly dividend on Tuesday, May 24th. Shareholders of record on Tuesday, June 14th will be given a dividend of $0.88 per share on Tuesday, July 5th. This represents a $3.52 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Monday, June 13th.
Read our dividend analysis for BBY
.

Is Best Buy a good dividend stock?

Best Buy (NYSE:BBY) pays an annual dividend of $3.52 per share and currently has a dividend yield of 4.33%. 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 39.07%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 44.22% 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 2023 earnings guidance on Tuesday, June, 21st. The company provided earnings per share guidance of $8.40-$9.00 for the period, compared to the consensus estimate of $8.90. The company issued revenue guidance of $48.30 billion-$49.90 billion, compared to the consensus revenue estimate of $50.12 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 retail and institutional investors. Top institutional shareholders include State Street Corp (4.08%), Price T Rowe Associates Inc. MD (2.15%), Northern Trust Corp (1.66%), FMR LLC (1.48%), UBS Asset Management Americas Inc. (0.80%) and Renaissance Technologies LLC (0.80%). Insiders that own company stock include Allison Peterson, Brian A Tilzer, Brian A Tilzer, Corie S Barry, Corie S Barry, Damien Harmon, Deborah Disanzo Eldracher, Hubert Joly, Kathleen Scarlett, Lisa Caputo, Mario Jesus Marte, Mathew Watson, Matthew M Bilunas, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Rajendra M Mohan, Richard M Schulze, Richard M Schulze, Robert L Bass, Todd G Hartman, Todd G Hartman, Whitney L Alexander and Whitney L Alexander.
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 $84.95.

How much money does Best Buy make?

Best Buy (NYSE:BBY) has a market capitalization of $19.13 billion and generates $51.76 billion in revenue each year. The technology retailer earns $2.45 billion in net income (profit) each year or $9.01 on an earnings per share basis.

How many employees does Best Buy have?

The company employs 105,000 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
When was Best Buy founded?

Best Buy was founded in 1966.

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 8/17/2022 by MarketBeat.com Staff

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