Best Buy - BBY Stock Forecast, Price & News

16 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 2 sell ratings, 8 hold ratings and 6 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.
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16 analysts have issued 12-month target prices for Best Buy's stock. Their BBY share price forecasts range from $61.00 to $147.00. On average, they anticipate the company's share price to reach $86.13 in the next twelve months. This suggests a possible upside of 34.3% 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 $101.60 at the beginning of the year. Since then, BBY shares have decreased by 36.9% and is now trading at $64.14.
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Best Buy saw a decline in short interest in August. As of August 31st, there was short interest totaling 10,030,000 shares, a decline of 11.6% from the August 15th total of 11,340,000 shares. Based on an average trading volume of 3,090,000 shares, the short-interest ratio is currently 3.2 days. Currently, 5.0% of the shares of the stock are sold short.
View Best Buy's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 22nd 2022.
View our BBY earnings forecast.

Best Buy Co., Inc. (NYSE:BBY) posted its quarterly earnings data on Tuesday, August, 30th. The technology retailer reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.28. The technology retailer had revenue of $10.33 billion for the quarter, compared to analysts' expectations of $10.25 billion. Best Buy had a net margin of 3.60% and a trailing twelve-month return on equity of 57.98%. The company's quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.98 earnings per share.
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Best Buy announced a quarterly dividend on Tuesday, August 30th. Investors of record on Tuesday, September 20th will be paid a dividend of $0.88 per share on Tuesday, October 11th. This represents a $3.52 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Monday, September 19th.
Read our dividend analysis for BBY.

Best Buy (NYSE:BBY) pays an annual dividend of $3.52 per share and currently has a dividend yield of 5.56%. 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 18 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 47.18%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 49.79% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BBY.

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 a variety of institutional and retail investors. Top institutional shareholders include Symmetry Partners LLC (0.00%). 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.

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 $64.14.

Best Buy (NYSE:BBY) has a market capitalization of $14.44 billion and generates $51.76 billion in revenue each year. The technology retailer earns $2.45 billion in net income (profit) each year or $7.46 on an earnings per share basis.

The company employs 105,000 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.