Best Buy - BBY Stock Forecast, Price & News

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 1 sell rating, 8 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street research 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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17 analysts have issued 12 month price objectives for Best Buy's stock. Their BBY share price forecasts range from $69.00 to $96.00. On average, they expect the company's share price to reach $81.44 in the next year. This suggests a possible upside of 6.1% from the stock's current price.
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Best Buy's stock was trading at $80.21 at the beginning of 2023. Since then, BBY stock has decreased by 4.3% and is now trading at $76.73.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 23rd 2023.
View our BBY earnings forecast.

Best Buy Co., Inc. (NYSE:BBY) announced its quarterly earnings data on Thursday, March, 2nd. The technology retailer reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.52. The technology retailer had revenue of $14.74 billion for the quarter, compared to analysts' expectations of $14.80 billion. Best Buy had a net margin of 3.06% and a trailing twelve-month return on equity of 55.81%. The firm's revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.73 EPS.
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Best Buy declared a quarterly dividend on Thursday, March 2nd. Shareholders of record on Thursday, March 23rd will be given a dividend of $0.92 per share on Thursday, April 13th. This represents a $3.68 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Wednesday, March 22nd. This is a boost from the stock's previous quarterly dividend of $0.88.
Read our dividend analysis for BBY.

ETFs with the largest weight of Best Buy (NYSE:BBY) stock in their portfolio include Invesco S&P Ultra Dividend Revenue ETF (RDIV), ALPS Sector Dividend Dogs ETF (SDOG), First Trust NASDAQ Rising Dividend Achievers (RDVY), FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI), 2ndVote Society Defended ETF (EGIS), AAM S&P 500 High Dividend Value ETF (SPDV), Freedom Day Dividend ETF (MBOX) and First Trust S-Network E-Commerce ETF (ISHP).

Best Buy (NYSE:BBY) pays an annual dividend of $3.68 per share and currently has a dividend yield of 4.57%. 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 20 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 58.51%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 51.11% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BBY.

Best Buy updated its FY 2024 earnings guidance on Thursday, March, 2nd. The company provided earnings per share guidance of $5.70-$6.50 for the period, compared to the consensus earnings per share estimate of $6.71. The company issued revenue guidance of $43.80 billion-$45.20 billion, compared to the consensus revenue estimate of $45.73 billion.

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 number of retail and institutional investors. Top institutional investors include Price T Rowe Associates Inc. MD (3.38%), Charles Schwab Investment Management Inc. (2.04%), Geode Capital Management LLC (1.89%), Morgan Stanley (1.35%), Amundi (1.33%) and First Trust Advisors LP (1.20%). 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, Mario Jesus Marte, Mathew Watson, Matthew M Bilunas, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Rajendra M Mohan, 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 $76.73.

Best Buy (NYSE:BBY) has a market capitalization of $16.98 billion and generates $46.30 billion in revenue each year. The technology retailer earns $1.42 billion in net income (profit) each year or $6.29 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.