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Best Buy - BBY Stock Forecast, Price & News

$80.17
-0.25 (-0.31%)
(As of 08/12/2022 03:52 PM ET)
Add
Compare
Today's Range
$79.60
$81.25
50-Day Range
$65.19
$80.42
52-Week Range
$64.29
$141.97
Volume
144,542 shs
Average Volume
2.89 million shs
Market Capitalization
$18.05 billion
P/E Ratio
8.90
Dividend Yield
4.48%
Price Target
$87.25

Best Buy MarketRank™ Forecast

Analyst Rating
Hold
2.44 Rating Score
Upside/​Downside
9.3% Upside
$87.25 Price Target
Short Interest
Healthy
6.00% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.79
Upright™ Environmental Score
News Sentiment
0.63mentions of Best Buy in the last 14 days
Based on 8 Articles This Week
Insider Trading
Acquiring Shares
$19.90 M Bought Last Quarter
Proj. Earnings Growth
18.98%
From $6.69 to $7.96 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.08 out of 5 stars

Retail/Wholesale Sector

10th out of 221 stocks

Radio, Television, & Electronic Stores Industry

1st out of 2 stocks

BBY stock logo

About Best Buy (NYSE:BBY) Stock

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.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America cut Best Buy from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 14th. Guggenheim reduced their target price on Best Buy from $100.00 to $85.00 and set a "buy" rating for the company in a report on Monday, August 1st. Barclays downgraded Best Buy from an "overweight" rating to an "equal weight" rating and set a $80.00 target price for the company. in a research report on Wednesday, May 25th. DA Davidson boosted their price objective on Best Buy from $107.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, May 25th. Finally, UBS Group reduced their target price on Best Buy from $80.00 to $76.00 and set a "neutral" rating on the stock in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Best Buy presently has a consensus rating of "Hold" and an average price target of $87.25.

Best Buy Stock Performance

NYSE:BBY traded down $0.46 during midday trading on Friday, hitting $79.96. The company had a trading volume of 138,049 shares, compared to its average volume of 2,894,957. The firm has a fifty day simple moving average of $73.33 and a two-hundred day simple moving average of $86.55. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 0.66 and a beta of 1.50. Best Buy has a fifty-two week low of $64.29 and a fifty-two week high of $141.97. The company has a quick ratio of 0.24, a current ratio of 0.96 and a debt-to-equity ratio of 0.42.

Best Buy (NYSE:BBY - Get Rating) last issued its quarterly earnings data on Tuesday, May 24th. The technology retailer reported $1.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.02). The firm had revenue of $10.65 billion for the quarter, compared to analyst estimates of $10.43 billion. Best Buy had a net margin of 4.33% and a return on equity of 63.39%. The firm's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.23 EPS. Equities analysts forecast that Best Buy will post 6.69 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Tuesday, June 14th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.40%. Best Buy's dividend payout ratio (DPR) is presently 39.07%.

Insider Activity at Best Buy

In related news, EVP Kathleen Scarlett sold 6,237 shares of the business's stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $80.68, for a total transaction of $503,201.16. Following the transaction, the executive vice president now directly owns 69,538 shares in the company, valued at $5,610,325.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Best Buy news, Chairman Richard M. Schulze purchased 250,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 25th. The stock was bought at an average cost of $79.60 per share, for a total transaction of $19,900,000.00. Following the purchase, the chairman now directly owns 20,464,051 shares in the company, valued at $1,628,938,459.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathleen Scarlett sold 6,237 shares of the firm's stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $80.68, for a total transaction of $503,201.16. Following the sale, the executive vice president now owns 69,538 shares of the company's stock, valued at $5,610,325.84. The disclosure for this sale can be found here. Insiders have sold a total of 63,011 shares of company stock worth $5,036,334 over the last quarter. Company insiders own 0.44% of the company's stock.

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BBY Stock News Headlines

Best Buy cuts jobs after it cuts sales and profit outlook
Best Buy, the nation’s largest consumer electronics chain, is trimming jobs in an effort to adjust to new changes in consumer behavior as the virus wanes
Inflation weighs on back-to-school buying for many families
This back-to-school shopping season, parents are focusing on the basics while also trading down to cheaper stores as surging inflation takes a toll on their household budgets
Inflation and wage data suggest US prices will keep climbing
Inflation surged in June and workers’ average wages accelerated in the spring — signs that Americans won’t likely feel any relief from rising prices anytime soon and that the Federal Reserve will feel compelled to further raise borrowing costs
Best Buy cuts sales forecast as inflation tempers spending
Best Buy has cut its annual sales and profit forecast, citing surging inflation that has dampened consumer spending on gadgets
Best Buy cuts staff as consumers curb spending - WSJ
Best Buy cuts store jobs to shave costs - WSJ
Best Buy cutting 'hundreds' of store jobs: WSJ
Best Buy Cuts Store Jobs to Help Boost Profits
Piper Sandler Lowers Best Buy (NYSE:BBY) Price Target to $84.00
What 19 Analyst Ratings Have To Say About Best Buy
Best Buy (NYSE:BBY) Price Target Cut to $85.00
See More Headlines
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BBY Company Calendar

Last Earnings
5/24/2022
Ex-Dividend for 7/5 Dividend
6/13/2022
Dividend Payable
7/05/2022
Today
8/12/2022
Next Earnings (Confirmed)
8/30/2022
Fiscal Year End
1/31/2023

Industry, Sector and Symbol

Industry
Radio, television, & electronic stores
Sub-Industry
Computer & Electronics Retail
CUSIP
08651610
Employees
105,000
Year Founded
1966

Price Target and Rating

Average Stock Price Forecast
$87.25
High Stock Price Forecast
$147.00
Low Stock Price Forecast
$65.00
Forecasted Upside/Downside
+8.8%
Consensus Rating
Hold
Rating Score (0-4)
2.44
Research Coverage
16 Analysts

Profitability

Net Income
$2.45 billion
Pretax Margin
5.34%

Debt

Sales & Book Value

Annual Sales
$51.76 billion
Cash Flow
$14.29 per share
Book Value
$12.55 per share

Miscellaneous

Free Float
224,177,000
Market Cap
$18.05 billion
Optionable
Optionable
Beta
1.50

Social Links















BBY Stock - Frequently Asked Questions

Should I buy or sell Best Buy stock right now?

16 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, 7 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities 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.
View BBY analyst ratings
or view top-rated stocks.

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

16 Wall Street research analysts have issued twelve-month price objectives for Best Buy's shares. Their BBY share price forecasts range from $65.00 to $147.00. On average, they expect the company's stock price to reach $87.25 in the next year. This suggests a possible upside of 8.7% from the stock's current price.
View analysts price targets for BBY
or view top-rated stocks among Wall Street analysts.

How have BBY shares performed in 2022?

Best Buy's stock was trading at $101.60 at the start of the year. Since then, BBY stock has decreased by 21.0% and is now trading at $80.28.
View the best growth stocks for 2022 here
.

When is Best Buy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 30th 2022.
View our BBY earnings forecast
.

How can I listen to Best Buy's earnings call?

Best Buy will be holding an earnings conference call on Tuesday, August 30th at 8:00 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Best Buy's earnings last quarter?

Best Buy Co., Inc. (NYSE:BBY) announced its quarterly earnings results on Tuesday, May, 24th. The technology retailer reported $1.57 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by $0.02. The technology retailer had revenue of $10.65 billion for the quarter, compared to the consensus estimate 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 business's quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.23 EPS.
Read the conference call transcript
.

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

Best Buy declared a quarterly dividend on Tuesday, May 24th. Investors 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 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Monday, June 13th.
Read our dividend analysis for BBY
.

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 4.48%. 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 39.07%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 44.22% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BBY.

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 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.

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

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.

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."

Who are Best Buy's major shareholders?

Best Buy's stock is owned by a variety of institutional and retail investors. Top institutional investors include FMR LLC (1.48%), Deutsche Bank AG (0.72%), Sumitomo Mitsui Trust Holdings Inc. (0.61%), Allspring Global Investments Holdings LLC (0.59%), Victory Capital Management Inc. (0.44%) and Swiss National Bank (0.42%). 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, Lisa Caputo, Mario Jesus Marte, Mathew Watson, Matthew M Bilunas, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Rajendra M Mohan, Richard M Schulze, Richard M Schulze, Robert L Bass, Todd G Hartman, Todd G Hartman, Whitney L Alexander and Whitney L Alexander.
View institutional ownership trends
.

How do I buy shares of Best Buy?

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.
Compare Top Brokerages Here.

What is Best Buy's stock price today?

One share of BBY stock can currently be purchased for approximately $80.28.

How much money does Best Buy make?

Best Buy (NYSE:BBY) has a market capitalization of $18.08 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?

The company 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 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.

This page (NYSE:BBY) was last updated on 8/12/2022 by MarketBeat.com Staff

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