Best Buy Stock Forecast, Price & News

15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last twelve months. There are currently 1 sell rating, 5 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" Best Buy stock.
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15 Wall Street research analysts have issued 12-month price targets for Best Buy's shares. Their BBY stock forecasts range from $65.00 to $147.00. On average, they predict Best Buy's share price to reach $96.06 in the next twelve months. This suggests a possible upside of 43.9% from the stock's current price.
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Best Buy's stock was trading at $101.60 at the beginning of the year. Since then, BBY shares have decreased by 34.3% and is now trading at $66.77.
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Best Buy is scheduled to release its next quarterly earnings announcement on Tuesday, August 23rd 2022.
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Best Buy Co., Inc. (NYSE:BBY) announced its quarterly earnings data on Tuesday, May, 24th. The technology retailer reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by $0.04. The technology retailer had revenue of $10.65 billion for the quarter, compared to analysts' expectations of $10.43 billion. Best Buy had a net margin of 4.33% and a trailing twelve-month return on equity of 63.39%. The company's revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.23 EPS.
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Best Buy announced a quarterly dividend on Tuesday, May 24th. Stockholders of record on Tuesday, June 14th will be given a dividend of $0.88 per share on Tuesday, July 5th. This represents a $3.52 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Monday, June 13th.
View Best Buy's dividend history.

Best Buy(NYSE:BBY) pays an annual dividend of $3.52 per share and currently has a dividend yield of 5.27%. 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.
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Best Buy issued an update on its FY 2023 earnings guidance on Tuesday, June, 21st. The company provided earnings per share guidance of $8.40-$9.00 for the period, compared to the consensus 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.

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.

Some companies that are related to Best Buy include GOME Retail (GMELY), Conn's (CONN), Yosen Group (YOSN), DBUB Group (DBUB) and hhgregg (HGGGQ).
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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."

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.
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One share of BBY stock can currently be purchased for approximately $66.77.

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.

Best Buy employs 105,000 workers across the globe.

Best Buy was founded in 1966.

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 investorrelations@bestbuy.com, or via fax at 612-292-4001.