NYSE:BBY

Best Buy Stock Forecast, Price & News

$66.77

+1.58 (+2.42%)

(As of 07/1/2022 12:00 AM ET)

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Today's Range: $65.01
▼
$66.86
50-Day Range: $65.19
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$97.79
52-Week Range: $64.29
▼
$141.97

Volume: 2.86 million shs
Average Volume: 3.36 million shs
Market Capitalization: $15.03 billion

P/E Ratio: 7.41
Dividend Yield: 5.40%
Price Target: $96.06

Best Buy Stock Forecast (MarketRank)

Analyst Rating: Moderate Buy
2.53 Rating Score
Upside/Downside: 43.9% Upside
$96.06 Price Target
Short Interest: Bearish
7.32% of Float Sold Short
Dividend Strength: Strong
Based on Four Factors
Sustainability: -1.79
Upright™ Environmental Score
News Sentiment: -0.36
Based on 3 Articles This Week
Insider Trading: Acquiring Shares
$19.90 M Bought Last Quarter
Proj. Earnings Growth: 17.17%
From $8.68 to $10.17 Per Share

Overall MarketRank^™

MarketRank is calculated as 30% analysis score, 20% valuation score, 10% short interest score, 10% dividend score, 10% sustainability score, 10% news and social score, and 10% insider trading score.

3.05 out of 5 stars

Retail/Wholesale Sector

1st out of 283 stocks

Radio, Television, & Electronic Stores Industry

1st out of 2 stocks

4.3 Analyst's Opinion

Consensus Rating
Best Buy has received a consensus rating of Moderate Buy. The company's average rating score is 2.53, and is based on 9 buy ratings, 5 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $96.06, Best Buy has a forecasted upside of 43.9% from its current price of $66.77.
Amount of Analyst Coverage
Best Buy has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

1.0 Short Interest

Percentage of Shares Shorted
7.32% of the float of Best Buy has been sold short.
Short Interest Ratio / Days to Cover
Best Buy has a short interest ratio ("days to cover") of 4.3.
Change versus previous month
Short interest in Best Buy has recently increased by 4.72%, indicating that investor sentiment is decreasing.

5.0 Dividend Strength

Dividend Leadership
Best Buy is a leading dividend payer. It pays a dividend yield of 5.40%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Best Buy has been increasing its dividend for 20 years.
Dividend Coverage
The dividend payout ratio of Best Buy is 39.07%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Best Buy will have a dividend payout ratio of 34.61% next year. This indicates that Best Buy will be able to sustain or increase its dividend.

0.0 Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Best Buy has received a -25.24% net impact score from Upright. On the other hand, these positive outcomes are achieved by using resources or causing negative impacts in categories "Scarce human capital", "GHG emissions", and "Waste". The negative contribution in the "GHG emissions" impact category seems to be driven mostly by its "Physical retail of home electronics at a home electronics store", "Physical retail of telephony equipment at a home electronics store", and "Physical retail of computing equipment at a home electronics store" products. See details.
Environmental Sustainability
The Environmental Impact score for Best Buy is -1.79.

0.9 News and Social Media Coverage

News Sentiment
Best Buy has a news sentiment score of -0.36. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.46 average news sentiment score of Retail/Wholesale companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Best Buy this week, compared to 8 articles on an average week.
Search Interest
Only 80 people have searched for BBY on MarketBeat in the last 30 days. This is a decrease of -27% compared to the previous 30 days.
MarketBeat Follows
Only 38 people have added Best Buy to their MarketBeat watchlist in the last 30 days. This is a decrease of -27% compared to the previous 30 days.

3.3 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Best Buy insiders have bought 286.65% more of their company's stock than they have sold. Specifically, they have bought $19,900,000.00 in company stock and sold $5,146,816.00 in company stock.
Percentage Held by Insiders
Only 0.44% of the stock of Best Buy is held by insiders.
Percentage Held by Institutions
80.79% of the stock of Best Buy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.8 Earnings and Valuation

Earnings Growth
Earnings for Best Buy are expected to grow by 17.17% in the coming year, from $8.68 to $10.17 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Best Buy is 7.41, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 47.19.
Price to Earnings Ratio vs. Sector
The P/E ratio of Best Buy is 7.41, which means that it is trading at a less expensive P/E ratio than the Retail/Wholesale sector average P/E ratio of about 14.75.
Price to Earnings Growth Ratio
Best Buy has a PEG Ratio of 1.02. PEG Ratios around 1 indicate that a company is correctly valued.
Price to Book Value per Share Ratio
Best Buy has a P/B Ratio of 5.32. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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About Best Buy (NYSE:BBY)

Best Buy Co., Inc. retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products. The company's stores also offer appliances, such as dishwashers, laundry, ovens, refrigerators, blenders, coffee makers, and vacuums; entertainment products consisting of drones, peripherals, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products; and other products, such as baby, food and beverage, luggage, outdoor living, and sporting goods. In addition, it provides consultation, delivery, design, health-related, installation, memberships, repair, set-up, technical support, and warranty-related services. The company offers its products through stores and websites under the Best Buy, Best Buy Ads, Best Buy Business, Best Buy Health, CST, Current Health, Geek Squad, Lively, Magnolia, Best Buy Mobile, Pacific Kitchen, Home, and Yardbird, as well as domain names bestbuy.com, currenthealth.com, lively.com, yardbird.com, and bestbuy.ca. As of January 30, 2022, it had 1,144 stores. The company was formerly known as Sound of Music, Inc. The company was incorporated in 1966 and is headquartered in Richfield, Minnesota.

July 1, 2022 | marketbeat.com

Asian shares mostly lower after pessimistic 'tankan' survey

Asian benchmarks are mostly lower, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy

July 1, 2022 | americanbankingnews.com

Best Buy (NYSE:BBY) Sets New 12-Month Low at $66.68

June 30, 2022 | realmoney.thestreet.com

Best Buy Appears Ready to Live Up to Its Name

June 25, 2022 | americanbankingnews.com

Best Buy (NYSE:BBY) Stock Rating Reaffirmed by Citigroup

June 23, 2022 | seekingalpha.com

Best Buy: Come For The 5% Yield, Stay For Massive Upside

June 23, 2022 | finance.yahoo.com

Why Is Best Buy (BBY) Down 12.7% Since Last Earnings Report?

June 23, 2022 | finance.yahoo.com

Bear of the Day: Best Buy Co., Inc. (BBY)

June 23, 2022 | seekingalpha.com

Best Buy Now Yields 5% And Is Too Cheap To Ignore

June 21, 2022 | americanbankingnews.com

Best Buy Co., Inc. (NYSE:BBY) Receives $91.79 Average Target Price from Brokerages

June 15, 2022 | americanbankingnews.com

Best Buy (NYSE:BBY) Lowered to Neutral at Bank of America

June 14, 2022 | msn.com

Best Buy downgraded as consumers tighten their belts amid high inflation

June 14, 2022 | finance.yahoo.com

UPS Welcomes Bala Subramanian to Newly Created Position of EVP and Chief Digital and Technology Officer

June 14, 2022 | finance.yahoo.com

BofA Upgrades Tractor Supply as Consumers Prioritize ‘Needs Over Wants’

See More Headlines

Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Radio, television, & electronic stores
Sub-Industry: Computer & Electronics Retail
Sector: Retail/Wholesale
Current Symbol: NYSE:BBY
CUSIP: 08651610
CIK: 764478
Web: www.bestbuy.com
Phone: (612) 291-1000
Fax: 612-292-4001
Employees: 105,000
Year Founded: 1966

Company Calendar

Ex-Dividend for 4/14 Dividend: 3/23/2022
Dividend Payable: 4/14/2022
Last Earnings: 5/24/2022
Ex-Dividend for 7/5 Dividend: 6/13/2022
Today: 7/02/2022
Dividend Payable: 7/05/2022
Next Earnings (Estimated): 8/23/2022
Fiscal Year End: 1/31/2023

Price Target and Rating

Average Stock Price Forecast: $96.06
High Stock Price Forecast: $147.00
Low Stock Price Forecast: $65.00
Forecasted Upside/Downside: +43.9%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.53333333333333
Research Coverage: 15 Analysts

Profitability

EPS (Most Recent Fiscal Year): $9.01
Trailing P/E Ratio: 7.41
Forward P/E Ratio: 7.69
P/E Growth: 1.02
Net Income: $2.45 billion
Net Margins: 4.33%
Pretax Margin: 5.34%
Return on Equity: 63.39%
Return on Assets: 12.78%

Debt

Debt-to-Equity Ratio: 0.42
Current Ratio: 0.96
Quick Ratio: 0.24

Sales & Book Value

Annual Sales: $51.76 billion
Price / Sales: 0.29
Cash Flow: $12.50 per share
Price / Cash Flow: 5.34
Book Value: $12.55 per share
Price / Book: 5.32

Miscellaneous

Outstanding Shares: 225,168,000
Free Float: 224,177,000
Market Cap: $15.03 billion
Optionable: Optionable
Beta: 1.42

Social Links

Best Buy Frequently Asked Questions

Should I buy or sell Best Buy stock right now?: 15 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 1 sell rating, 5 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" Best Buy stock.
View analyst ratings for Best Buy or view top-rated stocks.
What is Best Buy's stock price forecast for 2022?: 15 Wall Street research analysts have issued 1 year price targets for Best Buy's shares. Their BBY stock forecasts range from $65.00 to $147.00. On average, they expect Best Buy's stock price to reach $96.06 in the next twelve months. This suggests a possible upside of 43.9% from the stock's current price.
View analysts' price targets for Best Buy or view top-rated stocks among Wall Street analysts.
How has Best Buy's stock price performed in 2022?: Best Buy's stock was trading at $101.60 at the beginning of 2022. Since then, BBY shares have decreased by 34.3% and is now trading at $66.77.
View the best growth stocks for 2022 here.
When is Best Buy's next earnings date?: Best Buy is scheduled to release its next quarterly earnings announcement on Tuesday, August 23rd 2022.
View our earnings forecast for Best Buy.
How were Best Buy's earnings last quarter?: Best Buy Co., Inc. (NYSE:BBY) announced its earnings results on Tuesday, May, 24th. The technology retailer reported $1.57 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by $0.04. The technology retailer earned $10.65 billion during the quarter, compared to analysts' expectations of $10.43 billion. Best Buy had a trailing twelve-month return on equity of 63.39% and a net margin of 4.33%. The firm's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 EPS.
View Best Buy's earnings history.
How often does Best Buy pay dividends? What is the dividend yield for Best Buy?: Best Buy announced a quarterly dividend on Tuesday, May 24th. Shareholders of record on Tuesday, June 14th will be paid a dividend of $0.88 per share on Tuesday, July 5th. This represents a $3.52 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Monday, June 13th.
View Best Buy's dividend history.
Is Best Buy a good dividend stock?: Best Buy(NYSE:BBY) pays an annual dividend of $3.52 per share and currently has a dividend yield of 5.40%. BBY has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Best Buy 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 of Best Buy is 39.07%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Best Buy will have a dividend payout ratio of 34.61% next year. This indicates that Best Buy will be able to sustain or increase its dividend.
View Best Buy's dividend history.
What guidance has Best Buy issued on next quarter's earnings?: Best Buy issued an update on its FY 2023 earnings guidance on Tuesday, June, 21st. The company provided earnings per share (EPS) guidance of $8.40-$9.00 for the period, compared to the consensus earnings per share estimate of $8.90. The company issued revenue guidance of $48.30 billion-$49.90 billion, compared to the consensus revenue estimate of $50.12 billion.
Who are Best Buy's key executives?: Best Buy's management team includes the following people:
Ms. Corie Sue Barry, CEO & Director (Age 47, Pay $6.03M) (LinkedIn Profile)
Mr. Matthew M. Bilunas, Exec. VP & CFO (Age 49, Pay $3.02M) (LinkedIn Profile)
Ms. Kamy Scarlett, Exec. VP of HR & Best Buy Canada (Age 58, Pay $3.29M)
Mr. Jason J. Bonfig, Exec. VP & Chief Merchandising Officer (Age 45, Pay $2.48M)
Mr. Damien Harmon, Exec. VP of Omnichannel (Age 44, Pay $2.37M) (LinkedIn Profile)
Mr. Richard M. Schulze, Founder & Chairman Emeritus (Age 81)
Mr. Mathew Raymond Watson, Sr. VP of Fin., Controller & Chief Accounting Officer (Age 51)
Mr. Brian A. Tilzer, Chief Digital, Analytics & Technology Officer (Age 51) (LinkedIn Profile)
Ms. Mollie O'Brien, VP of Investor Relations
Mr. Todd Gregory Hartman, Exec. VP, Gen. Counsel, Sec. & Chief Risk Officer (Age 55)

What is Corie Barry's approval rating as Best Buy's CEO?: 1,251 employees have rated Best Buy CEO Corie Barry on Glassdoor.com. Corie Barry has an approval rating of 75% among Best Buy's employees.
Who are some of Best Buy's key competitors?: Some companies that are related to Best Buy include GOME Retail (GMELY), Conn's (CONN), Yosen Group (YOSN), DBUB Group (DBUB) and hhgregg (HGGGQ).
View all of BBY's 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 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."
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 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 $66.77.
How much money does Best Buy make?: Best Buy (NYSE:BBY) has a market capitalization of $15.03 billion and generates $51.76 billion in revenue each year. The technology retailer earns $2.45 billion in net income (profit) each year or $9.01 on an earnings per share basis.
How many employees does Best Buy have?: Best Buy employs 105,000 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
When was Best Buy founded?: Best Buy was founded in 1966.
How can I contact Best Buy?: Best Buy's mailing address is 7601 PENN AVE SOUTH, RICHFIELD MN, 55423. The official website for Best Buy is www.bestbuy.com. The technology retailer can be reached via phone at (612) 291-1000, via email at [email protected], or via fax at 612-292-4001.

This page (NYSE:BBY) was last updated on 7/2/2022 by MarketBeat.com Staff

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Best Buy Stock Forecast, Price & News

Best Buy Stock Forecast (MarketRank)

Overall MarketRank™

4.3 Analyst's Opinion

1.0 Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

5.0 Dividend Strength

0.0 Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

0.9 News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

3.3 Company Ownership

3.8 Earnings and Valuation

Receive BBY Stock News and Ratings via Email

About Best Buy (NYSE:BBY)

BBY Stock News Headlines

Industry, Sector and Symbol

Company Calendar

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Best Buy Frequently Asked Questions

Should I buy or sell Best Buy stock right now?

What is Best Buy's stock price forecast for 2022?

How has Best Buy's stock price performed in 2022?

When is Best Buy's next earnings date?

How were Best Buy's earnings last quarter?

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

Is Best Buy a good dividend stock?

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

Who are Best Buy's key executives?

What is Corie Barry's approval rating as Best Buy's CEO?

Who are some of Best Buy's key competitors?

What other stocks do shareholders of Best Buy own?

What is Best Buy's stock symbol?

How do I buy shares of Best Buy?

What is Best Buy's stock price today?

How much money does Best Buy make?

How many employees does Best Buy have?

Does Best Buy have any subsidiaries?

When was Best Buy founded?

How can I contact Best Buy?

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