NYSE:BBYBest Buy Stock Price, Forecast & News

Best Buy's stock was trading at $65.37 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization. Since then, BBY shares have increased by 30.9% and is now trading at $85.60. View which stocks have been most impacted by Coronavirus.

19 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 7 hold ratings and 12 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Best Buy.

Best Buy is scheduled to release its next quarterly earnings announcement on Thursday, September 3rd 2020. View our earnings forecast for Best Buy.

Best Buy Co Inc (NYSE:BBY) announced its quarterly earnings results on Thursday, May, 21st. The technology retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.41 by $0.26. The technology retailer had revenue of $8.56 billion for the quarter, compared to analysts' expectations of $8.26 billion. Best Buy had a net margin of 3.33% and a return on equity of 45.89%. The firm's revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $1.02 EPS. View Best Buy's earnings history.

Best Buy declared a quarterly dividend on Friday, May 22nd. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.55 per share on Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Wednesday, June 10th. View Best Buy's dividend history.

Best Buy announced that its board has authorized a stock repurchase program on Wednesday, February 27th 2019, which allows the company to repurchase $3,000,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

19 equities research analysts have issued 1 year price targets for Best Buy's stock. Their forecasts range from $70.00 to $105.00. On average, they anticipate Best Buy's share price to reach $88.16 in the next twelve months. This suggests a possible upside of 3.0% from the stock's current price. View analysts' price targets for Best Buy.

News coverage about BBY stock has trended very negative recently, according to InfoTrie. InfoTrie scores the sentiment of news coverage by analyzing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Best Buy earned a news sentiment score of -3.6 on InfoTrie's scale. They also gave news stories about the technology retailer a news buzz of 0.0 out of 10, meaning that recent news coverage is extremely unlikely to have an impact on the company's share price in the near term. View the latest news about Best Buy.

Best Buy saw a increase in short interest in June. As of June 30th, there was short interest totaling 7,170,000 shares, an increase of 17.3% from the June 15th total of 6,110,000 shares. Based on an average daily trading volume, of 2,910,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.1% of the shares of the company are short sold. View Best Buy's Current Options Chain.

Some companies that are related to Best Buy include Starbucks (SBUX), INDUSTRIA DE DI/ADR (IDEXY), CVS Health (CVS), CHRISTIAN DIOR/ADR (CHDRY), KERING S A/ADR (PPRUY), Booking (BKNG), COMPAGNIE FINAN/ADR (CFRUY), TJX Companies (TJX), Target (TGT), Mercadolibre (MELI), Dollar General (DG), Wal-mart de Mexico S A B de C V (WMMVY), eBay (EBAY), Walgreens Boots Alliance (WBA) and ITOCHU CORP/ADR (ITOCY). View all competitors.

Based on aggregate information from My MarketBeat watchlists, some companies that other Best Buy investors own include Intel (INTC), NVIDIA (NVDA), Home Depot (HD), Alibaba Group (BABA), Cisco Systems (CSCO), Bank of America (BAC), Netflix (NFLX), Micron Technology (MU), Walt Disney (DIS) and Advanced Micro Devices (AMD).

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 shareholders include Wedge Capital Management L L P NC (0.15%), Envestnet Asset Management Inc. (0.11%), Hexavest Inc. (0.06%), Manning & Napier Group LLC (0.05%), State of Alaska Department of Revenue (0.04%) and Mount Yale Investment Advisors LLC (0.03%). Company insiders that own Best Buy stock include Allison Peterson, Asheesh Saksena, Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Keith J Nelsen, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Patricia H Walker, Rajendra M Mohan, Richard M Schulze, Todd G Hartman and Victor Kathy J Higgins. View institutional ownership trends for Best Buy.

BBY stock was sold by a variety of institutional investors in the last quarter, including Wedge Capital Management L L P NC, State of Alaska Department of Revenue, Exane Derivatives, Manning & Napier Group LLC, IFM Investors Pty Ltd, DNB Asset Management AS, Legacy Private Trust Co., and Alpha Windward 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, Rajendra M Mohan, Richard M Schulze, and Todd G Hartman. View insider buying and selling activity for Best Buy.

BBY stock was acquired by a variety of institutional investors in the last quarter, including Hexavest Inc., Mount Yale Investment Advisors LLC, Envestnet Asset Management Inc., MERIAN GLOBAL INVESTORS UK Ltd, Abner Herrman & Brock LLC, NuWave Investment Management LLC, First National Bank of Mount Dora Trust Investment Services, and HNP Capital LLC. 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 $85.60.

Best Buy has a market capitalization of $22.04 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]