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NYSE:BBYBest Buy Stock Price, Forecast & News

$63.74
+1.99 (+3.22 %)
(As of 04/8/2020 02:03 PM ET)
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Compare
Today's Range
$62.06
Now: $63.74
$65.27
50-Day Range
$50.69
MA: $68.80
$91.93
52-Week Range
$48.10
Now: $63.74
$91.99
Volume189,670 shs
Average Volume2.90 million shs
Market Capitalization$16.49 billion
P/E Ratio10.97
Dividend Yield3.66%
Beta1.3
Best Buy Co., Inc. operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products. The company's stores also offer appliances, such as dishwashers, laundry appliances, ovens, refrigerators, blenders, coffee makers, and vacuums; and other products, such as beverages, snacks, and sundry items, as well as baby products, luggage, and sporting goods. In addition, it provides services comprising consultation, design, delivery, installation, memberships, protection plans, repair, set-up, and technical support services, as well as connected health services for aging consumers. The company offers its products through stores and Websites under the Best Buy, bestbuy.com, Best Buy Direct, Best Buy Express, Best Buy Mobile, Geek Squad, GreatCall, Magnolia, Pacific Kitchen and Home, bestbuy.ca, and bestbuy.com.mx brand names, as well as through mobile applications and call centers. As of February 2, 2019, it had approximately 1,187 large-format and 51 small-format stores. The company was formerly known as Sound of Music, Inc. Best Buy Co., Inc. was founded in 1966 and is headquartered in Richfield, Minnesota.
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Best Buy logo

Beat the Market (BTM) Rank

Analyst Opinion: 4.3Community Rank: 3.0Dividend Strength: 4.2Insider Behavior: 1.0Valuation: 1.9 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.86 out of 5 stars


Industry, Sector and Symbol

Industry Radio, television, & electronic stores
Sub-IndustryComputer & Electronics Retail
SectorRetail/Wholesale
CUSIP08651610
Phone612-291-1000

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$43.64 billion
Cash Flow$11.24 per share
Book Value$13.44 per share

Profitability

Net Income$1.54 billion

Miscellaneous

Employees125,000
Market Cap$16.49 billion
Next Earnings Date5/28/2020 (Estimated)
OptionableOptionable

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Best Buy (NYSE:BBY) Frequently Asked Questions

How has Best Buy's stock been impacted by COVID-19 (Coronavirus)?

Best Buy's stock was trading at $65.37 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, BBY stock has decreased by 2.5% and is now trading at $63.74. View which stocks have been mosted impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Best Buy?

17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 8 hold ratings and 9 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Best Buy.

When is Best Buy's next earnings date?

Best Buy is scheduled to release its next quarterly earnings announcement on Thursday, May 28th 2020. View our earnings forecast for Best Buy.

How were Best Buy's earnings last quarter?

Best Buy Co Inc (NYSE:BBY) announced its quarterly earnings results on Thursday, February, 27th. The technology retailer reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.15. The technology retailer had revenue of $15.20 billion for the quarter, compared to analysts' expectations of $15.05 billion. Best Buy had a net margin of 3.53% and a return on equity of 49.17%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $2.72 EPS. View Best Buy's earnings history.

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

Best Buy declared a quarterly dividend on Thursday, February 27th. Shareholders of record on Thursday, March 19th will be paid a dividend of $0.55 per share on Thursday, April 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Wednesday, March 18th. This is a boost from Best Buy's previous quarterly dividend of $0.50. View Best Buy's dividend history.

How will Best Buy's stock buyback program work?

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

What guidance has Best Buy issued on next quarter's earnings?

Best Buy issued an update on its FY21 earnings guidance on Thursday, February, 27th. The company provided earnings per share (EPS) guidance of $6.10-6.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.03. The company issued revenue guidance of 43.3-44.3 billion, compared to the consensus revenue estimate of $44.03 billion.

What price target have analysts set for BBY?

17 brokerages have issued 1-year target prices for Best Buy's stock. Their forecasts range from $55.00 to $105.00. On average, they anticipate Best Buy's stock price to reach $83.31 in the next twelve months. This suggests a possible upside of 30.7% from the stock's current price. View analysts' price targets for Best Buy.

What are Wall Street analysts saying about Best Buy stock?

Here are some recent quotes from research analysts about Best Buy stock:
  • 1. According to Zacks Investment Research, "Shares of Best Buy have increased and outpaced the industry year to date given its robust earnings trend. The company’s earnings not only beat the Zacks Consensus Estimate for the seventh straight quarter but also rose year-over-year when it reported second-quarter fiscal 2020 results. Also, management raised the earnings view for fiscal 2020.  Moving on, Best Buy’s focus on developing omnichannel capabilities, supply chain and cost containment efforts along with strengthening partnerships with vendors bode well. However, potential effects of tariffs and volatile consumer spending led management to narrow its sales projection for the fiscal.  Further, higher expenses stemming from GreatCall is a threat to margins. Additionally, continued sluggishness in international segment on account of adverse currency fluctuations remains a concern." (11/7/2019)
  • 2. Wedbush analysts commented, "JCP reports 1Q results BMO on 5/21. The company was not immune to the cold weather/ calendar shift headwinds and we expect soft metrics overall with possible offset on merchandise margin pressure after clearing non-core and low-margin merchandise in 4Q. The company started 1Q with inventory down 13%, considerably lower than sales that were down 8% in 4Q. We do not expect a significant contribution to sales from exiting the major appliance business because inventory was limited to floor samples. Our checks indicate that the majority of the floor samples in categories were sold and the floor space re-purposed." (5/17/2019)

Has Best Buy been receiving favorable news coverage?

Media coverage about BBY stock has trended very negative this week, InfoTrie Sentiment Analysis reports. The research firm scores the sentiment of media coverage by analyzing more than six thousand news and blog sources in real time. The firm ranks coverage of companies on a scale of negative five to five, with scores closest to five being the most favorable. Best Buy earned a news impact score of -3.3 on InfoTrie's scale. They also assigned news articles about the technology retailer a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an effect on the company's share price in the near future. View the latest news aboutBest Buy.

Are investors shorting Best Buy?

Best Buy saw a increase in short interest during the month of March. As of March 13th, there was short interest totaling 6,870,100 shares, an increase of 25.1% from the February 27th total of 5,490,000 shares. Based on an average trading volume of 2,410,000 shares, the short-interest ratio is presently 2.9 days. Approximately 3.1% of the company's shares are short sold. View Best Buy's Current Options Chain.

Who are some of Best Buy's key competitors?

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 Intel (INTC), NVIDIA (NVDA), Home Depot (HD), Bank of America (BAC), Cisco Systems (CSCO), Netflix (NFLX), Alibaba Group (BABA), Walt Disney (DIS), Micron Technology (MU) and AT&T (T).

Who are Best Buy's key executives?

Best Buy's management team includes the following people:
  • Mr. Hubert Joly, Chairman & CEO (Age 60)
  • Ms. Corie Sue Barry, CFO & Chief Strategic Transformation Officer (Age 44)
  • Mr. Keith J. Nelsen, Advisor (Age 55)
  • Mr. R. Michael Mohan, Chief Operating Officer of Best Buy U.S. (Age 51)
  • Mr. Mathew Raymond Watson, Sr. VP of Fin., Controller & Chief Accounting Officer (Age 48)

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 many different retail and institutional investors. Top institutional investors include State of Alaska Department of Revenue (0.05%), First National Bank of Mount Dora Trust Investment Services (0.01%), Pensionfund DSM Netherlands (0.01%), Pensionfund Sabic (0.01%), CLARET ASSET MANAGEMENT Corp (0.01%) and IBM Retirement Fund (0.00%). Company insiders that own Best Buy stock include 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.

Which institutional investors are selling Best Buy stock?

BBY stock was sold by a variety of institutional investors in the last quarter, including Pensionfund DSM Netherlands, and CLARET ASSET MANAGEMENT Corp. Company insiders that have sold Best Buy company stock in the last year include Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Rajendra M Mohan, Richard M Schulze, Todd G Hartman, and Victor Kathy J Higgins. View insider buying and selling activity for Best Buy.

Which institutional investors are buying Best Buy stock?

BBY stock was purchased by a variety of institutional investors in the last quarter, including State of Alaska Department of Revenue, First National Bank of Mount Dora Trust Investment Services, IBM Retirement Fund, Fulton Bank N.A., and Pensionfund Sabic. View insider buying and selling activity for Best Buy.

How do I buy shares of 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.

What is Best Buy's stock price today?

One share of BBY stock can currently be purchased for approximately $63.74.

How big of a company is Best Buy?

Best Buy has a market capitalization of $16.49 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. View additional information about Best Buy.

What is Best Buy's official website?

The official website for Best Buy is http://www.bestbuy.com/.

How can I contact Best Buy?

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]

This page was last updated on 4/8/2020 by MarketBeat.com Staff

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