Best Buy Stock Forecast, Price & News

Best Buy's stock was trading at $65.37 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, BBY shares have increased by 72.4% and is now trading at $112.73.
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23 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 7 hold ratings and 16 buy ratings for the stock, resulting in a consensus recommendation of "Buy."
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Best Buy is scheduled to release its next quarterly earnings announcement on Tuesday, November 24th 2020.
View our earnings forecast for Best Buy.

Best Buy Co., Inc. (NYSE:BBY) released its earnings results on Tuesday, August, 25th. The technology retailer reported $1.71 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.09 by $0.62. The technology retailer earned $9.91 billion during the quarter, compared to analysts' expectations of $9.79 billion. Best Buy had a return on equity of 48.82% and a net margin of 3.75%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share.
View Best Buy's earnings history.

Best Buy declared a quarterly dividend on Tuesday, August 25th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.55 per share on Tuesday, October 6th. This represents a $2.20 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Monday, September 14th.
View Best Buy's dividend history.

Best Buy announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 27th 2019, which permits the company to repurchase $3,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to purchase up to 18.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

23 equities research analysts have issued 1 year price targets for Best Buy's stock. Their forecasts range from $70.00 to $135.00. On average, they anticipate Best Buy's stock price to reach $106.24 in the next twelve months. This suggests that the stock has a possible downside of 5.8%.
View analysts' price targets for Best Buy.

Best Buy saw a drop in short interest during the month of October. As of October 15th, there was short interest totaling 4,580,000 shares, a drop of 13.7% from the September 30th total of 5,310,000 shares. Based on an average daily trading volume, of 2,280,000 shares, the short-interest ratio is presently 2.0 days. Approximately 2.0% of the shares of the company are sold short.
View Best Buy's Short Interest.

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), The 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 institutional and retail investors. Top institutional shareholders include LSV Asset Management (1.07%), Robeco Institutional Asset Management B.V. (0.70%), KBC Group NV (0.20%), Conning Inc. (0.14%), Ferguson Wellman Capital Management Inc. (0.12%) and Envestnet Asset Management Inc. (0.11%). Company insiders that own Best Buy stock include Allison Peterson, Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Keith J Nelsen, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Richard M Schulze, Todd G Hartman, Victor Kathy J Higgins and Whitney L Alexander.
View institutional ownership trends for Best Buy.

BBY stock was sold by a variety of institutional investors in the last quarter, including LSV Asset Management, Wedge Capital Management L L P NC, Conning Inc., Ziegler Capital Management LLC, Redpoint Investment Management Pty Ltd, James Investment Research Inc., CX Institutional, and Hexavest Inc.. Company insiders that have sold Best Buy company stock in the last year include Allison Peterson, Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Richard M Schulze, Todd G Hartman, and Whitney L Alexander.
View insider buying and selling activity for Best Buy.

BBY stock was bought by a variety of institutional investors in the last quarter, including Ferguson Wellman Capital Management Inc., Zweig DiMenna Associates LLC, Nisa Investment Advisors LLC, Foundry Partners LLC, KBC Group NV, Scout Investments Inc., Polaris Wealth Advisory Group LLC, and Robeco Institutional Asset Management B.V..
View insider buying and selling activity for 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 Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of BBY stock can currently be purchased for approximately $112.73.

Best Buy has a market capitalization of $29.18 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.

The official website for Best Buy is 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]