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NYSE:BBY

Best Buy (BBY) Stock Forecast, Price & News

$73.21
+0.31 (+0.43%)
(As of 06/2/2023 ET)
Compare
Today's Range
$73.09
$74.27
50-Day Range
$69.15
$78.51
52-Week Range
$60.78
$93.32
Volume
2.52 million shs
Average Volume
2.36 million shs
Market Capitalization
$16.01 billion
P/E Ratio
12.39
Dividend Yield
5.03%
Price Target
$78.44

Best Buy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.53 Rating Score
Upside/​Downside
7.1% Upside
$78.44 Price Target
Short Interest
Bearish
5.86% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.79
Upright™ Environmental Score
News Sentiment
0.49mentions of Best Buy in the last 14 days
Based on 36 Articles This Week
Insider Trading
Selling Shares
$6.19 M Sold Last Quarter
Proj. Earnings Growth
14.45%
From $6.02 to $6.89 Per Share

Overall MarketRank

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

2.47 out of 5 stars

Retail/Wholesale Sector

57th out of 204 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 provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment includes operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales. The International segment is made up of all operations outside the U.S. and its territories, including Canada, Europe, China, Mexico, and Turkey. It also markets its products under the brand names: Best Buy, bestbuy.com, Best Buy Direct, Best Buy Express, Best Buy Mobile, Geek Squad, GreatCall, Magnolia and Pacific Kitchen and Home. The company was founded by Richard M. Schulze in 1966 and is headquartered in Richfield, MN.

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BBY Stock News Headlines

Macy's Stock Earnings, A Pivotal Story (BBY)
Macy's shareholders keep in mind that the whole industry - rather than their holding - is suffering from slowdowns. Management rewards them as ratings point up
Costco's Earnings Call Reassure Economists, Recession Cancelled (BBY)
Costco shareholders are in for what seems to be a continuation of previously profitable trends, as the underlying macro dynamics improve, analyst targets roar
"Unknown laser company making HUGE profit from Russia-Ukraine War"
On February 24th, Russia invaded Ukraine. This caused major stock losses and soaring gas prices. But it also created a HUGE opportunity for savvy investors. There's an unknown laser company that's been profiting greatly from this war... ...and from another major conflict happening 3,000 miles away. Learn more here >>>
Best Buy's Comeback Is Still At Play, Earnings Call For Patience
Best Buy is presenting investors with its second-highest dividend yield in company history, hinting at investors - and analysts - that the stock is underrated
Best Buy reports declines in 1Q profits and sales as gadget spending remains weak
Best Buy reported declines in fiscal first-quarter sales and profits as the nation’s largest consumer electronics chain continues to wrestle with a consumer spending slowdown in gadgets
Is Best Buy Stock a Buy Now?
Best Buy (NYSE:BBY) Issues FY 2024 Earnings Guidance
NOTICE: Your retirement is in immediate danger
Soon you may be forced to spend your afternoons packing grocery bags at Walmart instead of going to the park with your grandchildren. Why? Because not only could your money be worth even less than it already is now, but certain stocks and cryptocurrencies could drop by 80%. Even your social security check could be worth 21% less! Learn how to protect your retirement here >>>
Best Buy (NYSE:BBY) PT Lowered to $87.00
Best Buy Stock: Buy, Sell, or Hold?
Best Buy CEO Sees Nervous Tech Consumers
Best Buy declares $0.92 dividend
Bank of America Securities Remains a Sell on Best Buy Co (BBY)
Best Buy: Bouncing Off The Bottom
See More Headlines

BBY Price History

BBY Company Calendar

Ex-Dividend for 4/13 Dividend
3/22/2023
Dividend Payable
4/13/2023
Last Earnings
5/25/2023
Today
6/02/2023
Ex-Dividend for 7/6 Dividend
6/14/2023
Dividend Payable
7/06/2023
Next Earnings (Estimated)
8/29/2023
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
$78.44
High Stock Price Forecast
$91.00
Low Stock Price Forecast
$62.00
Forecasted Upside/Downside
+6.8%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.53
Research Coverage
17 Analysts

Profitability

Net Income
$1.42 billion
Pretax Margin
3.67%

Debt

Sales & Book Value

Annual Sales
$46.30 billion
Cash Flow
$11.49 per share
Book Value
$12.77 per share

Miscellaneous

Free Float
217,442,000
Market Cap
$16.05 billion
Optionable
Optionable
Beta
1.51

Social Links


Key Executives

  • Corie Sue BarryCorie Sue Barry
    Chief Executive Officer & Director
  • Matthew M. BilunasMatthew M. Bilunas
    Chief Financial Officer
  • Brian TilzerBrian Tilzer
    Chief Digital & Technology Officer
  • Adam Mishler
    Chief Information Security Officer
  • Keri Grafing
    Chief Compliance Officer













BBY Stock - Frequently Asked Questions

Should I buy or sell Best Buy stock right now?

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 1 sell rating, 6 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" BBY shares.
View BBY analyst ratings
or view top-rated stocks.

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

17 brokers have issued 12 month target prices for Best Buy's stock. 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 6.8% 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 shares have decreased by 8.5% and is now trading at $73.42.
View the best growth stocks for 2023 here
.

Are investors shorting Best Buy?

Best Buy saw a increase in short interest in 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 short-interest ratio is currently 5.2 days. Approximately 6.0% of the company's stock are short sold.
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, August 29th 2023.
View our BBY earnings forecast
.

How were Best Buy's earnings last quarter?

Best Buy Co., Inc. (NYSE:BBY) announced its quarterly earnings results on Thursday, May, 25th. The technology retailer reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 2.93% and a trailing twelve-month return on equity of 51.95%. The firm's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.57 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 Thursday, May 25th. Shareholders 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 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Wednesday, June 14th.
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 5.06%. 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 53.41% 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, May, 30th. The company provided EPS guidance of $5.70-$6.50 for the period, compared to the consensus earnings per share 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.

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 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
.

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 $73.42.

How much money does Best Buy make?

Best Buy (NYSE:BBY) has a market capitalization of $16.05 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.

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 6/2/2023 by MarketBeat.com Staff

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