Best Buy - BBY Stock Forecast, Price & News

17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last twelve months. There are currently 1 sell rating, 8 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.

17 Wall Street research analysts have issued twelve-month target prices for Best Buy's stock. Their BBY share price forecasts range from $69.00 to $96.00. On average, they anticipate the company's share price to reach $81.44 in the next twelve months. This suggests a possible upside of 8.1% 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 start of the year. Since then, BBY shares have decreased by 6.1% and is now trading at $75.32.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 23rd 2023.
View our BBY earnings forecast.

Best Buy Co., Inc. (NYSE:BBY) issued its quarterly earnings data on Thursday, March, 2nd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.52. The technology retailer earned $14.74 billion during the quarter, compared to analyst estimates of $14.80 billion. Best Buy had a net margin of 3.06% and a trailing twelve-month return on equity of 55.81%. Best Buy's revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.73 earnings per share.
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Best Buy declared a quarterly dividend on Thursday, March 2nd. Stockholders of record on Thursday, March 23rd will be paid a dividend of $0.92 per share on Thursday, April 13th. This represents a $3.68 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Wednesday, March 22nd. This is a positive change from the stock's previous quarterly dividend of $0.88.
Read our dividend analysis for BBY.

ETFs with the largest weight of Best Buy (NYSE:BBY) stock in their portfolio include Invesco S&P Ultra Dividend Revenue ETF (RDIV), The Acquirers Fund (ZIG), First Trust NASDAQ Rising Dividend Achievers (RDVY), ALPS Sector Dividend Dogs ETF (SDOG), FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI), 2ndVote Society Defended ETF (EGIS), AAM S&P 500 High Dividend Value ETF (SPDV) and Invesco High Yield Equity Dividend Achievers ETF (PEY).

Best Buy (NYSE:BBY) pays an annual dividend of $3.68 per share and currently has a dividend yield of 4.98%. 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 58.51%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 51.47% 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 Thursday, March, 2nd. The company provided earnings per share guidance of $5.70-$6.50 for the period, compared to the consensus estimate of $6.71. The company issued revenue guidance of $43.80 billion-$45.20 billion, compared to the consensus revenue estimate of $45.73 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 many different institutional and retail investors. Top institutional investors include Price T Rowe Associates Inc. MD (3.38%), Charles Schwab Investment Management Inc. (2.04%), Geode Capital Management LLC (1.89%), Morgan Stanley (1.35%), Amundi (1.33%) and First Trust Advisors LP (1.20%). 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, 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 $75.32.

Best Buy (NYSE:BBY) has a market capitalization of $16.42 billion and generates $46.30 billion in revenue each year. The technology retailer earns $1.42 billion in net income (profit) each year or $6.29 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.