NYSE:BBY - Best 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 decreased by 17.5% and is now trading at $53.90. View which stocks have been mosted impacted by Coronavirus.

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.

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

Best Buy Co Inc (NYSE:BBY) released its earnings results on Thursday, February, 27th. The technology retailer reported $2.90 earnings per share (EPS) for the quarter, beating 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%. Best Buy's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $2.72 EPS. View Best Buy's earnings history.

Best Buy declared a quarterly dividend on Thursday, February 27th. Stockholders of record on Thursday, March 19th will be given a dividend of $0.55 per share on Thursday, April 9th. This represents a $2.20 annualized dividend and a yield of 4.08%. The ex-dividend date is Wednesday, March 18th. This is an increase from Best Buy's previous quarterly dividend of $0.50. View Best Buy's dividend history.

Best Buy announced that its Board of Directors has authorized a stock buyback 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 management believes its shares are undervalued.

Best Buy updated 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.

17 Wall Street analysts have issued 12 month 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 year. This suggests a possible upside of 54.6% from the stock's current price. View analysts' price targets for Best Buy.

Media coverage about BBY stock has been trending very negative recently, according to InfoTrie Sentiment. InfoTrie identifies positive and negative news coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Best Buy earned a media sentiment score of -3.3 on InfoTrie's scale. They also assigned news coverage about the technology retailer a news buzz of 0.0 out of 10, meaning that recent news coverage is extremely unlikely to have an effect on the company's share price in the near future. View the latest news aboutBest 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 shares of the stock are short sold. View Best Buy's Current Options Chain.

Some companies that are related to Best Buy include JD.Com (JD), TJX Companies (TJX), COMPAGNIE FINAN/ADR (CFRUY), Booking (BKNG), Target (TGT), Wal-mart de Mexico S A B de C V (WMMVY), Pinduoduo (PDD), Walgreens Boots Alliance (WBA), Dollar General (DG), ITOCHU CORP/ADR (ITOCY), Ross Stores (ROST), SEVEN & I HOLDI/ADR (SVNDY), Tesco (TSCDY), COMPASS GRP PLC/S (CMPGY) and eBay (EBAY).

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), Micron Technology (MU), Walt Disney (DIS), Alibaba Group (BABA) and AT&T (T).

Best Buy trades on the New York Stock Exchange (NYSE) under the ticker symbol "BBY."

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 $53.90.

Best Buy has a market capitalization of $13.95 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.

The official website for Best Buy is http://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]