NYSE:BBYBest Buy Stock Price, Forecast & News

$61.75

+1.60 (+2.66 %)

(As of 04/8/2020 02:46 AM ET)

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Today's Range

$61.61

Now: $61.75▼

$65.31

50-Day Range

$50.69

MA: $68.80▼

$91.93

52-Week Range

$48.10

Now: $61.75▼

$91.99

Volume2.62 million shs

Average Volume2.90 million shs

Market Capitalization$15.98 billion

P/E Ratio10.63

Dividend Yield3.66%

Beta1.3

Best Buy Co., Inc. operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products. The company's stores also offer appliances, such as dishwashers, laundry appliances, ovens, refrigerators, blenders, coffee makers, and vacuums; and other products, such as beverages, snacks, and sundry items, as well as baby products, luggage, and sporting goods. In addition, it provides services comprising consultation, design, delivery, installation, memberships, protection plans, repair, set-up, and technical support services, as well as connected health services for aging consumers. The company offers its products through stores and Websites under the Best Buy, bestbuy.com, Best Buy Direct, Best Buy Express, Best Buy Mobile, Geek Squad, GreatCall, Magnolia, Pacific Kitchen and Home, bestbuy.ca, and bestbuy.com.mx brand names, as well as through mobile applications and call centers. As of February 2, 2019, it had approximately 1,187 large-format and 51 small-format stores. The company was formerly known as Sound of Music, Inc. Best Buy Co., Inc. was founded in 1966 and is headquartered in Richfield, Minnesota.

Beat the Market (BTM) Rank^™

4.3 Analyst's Opinion

Consensus Rating
Best Buy has received a consensus rating of Buy. The company's average rating score is 2.53, and is based on 9 buy ratings, 8 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $83.31, Best Buy has a potential upside of 34.9% from its current price of $61.75.
Amount of Analyst Coverage
Best Buy has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0 Community Rank

Outperform Votes
Best Buy has received 1,437 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Best Buy has received 920 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Best Buy has received 60.97% “outperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about Best Buy and other stocks. Vote “Outperform” if you believe BBY will outperform the S&P 500 over the long term. Vote “Underperform” if you believe BBY will underperform the S&P 500 over the long term. You may vote once every thirty days.

4.2 Dividend Strength

Dividend Leadership
Best Buy is a leading dividend payer. It pays a dividend yield of 3.66%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Best Buy has been increasing its dividend for 8 years.
Dividend Coverage
The dividend payout ratio of Best Buy is 36.24 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Best Buy will have a dividend payout ratio of 32.79 % next year. This indicates that Best Buy will be able to sustain or increase its dividend.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Best Buy insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $3,446,909.00 in company stock.
Percentage Held by Insiders
Only 0.95% of the stock of Best Buy is held by insiders.
Percentage Held by Institutions
78.59% of the stock of Best Buy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9 Earnings and Valuation

Earnings Growth
Earnings for Best Buy are expected to grow by 6.17% in the coming year, from $6.32 to $6.71 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Best Buy is 10.63, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 11.82.
Price to Earnings Ratio vs. Sector
The P/E ratio of Best Buy is 10.63, which means that it is trading at a less expensive P/E ratio than the Retail/Wholesale sector average P/E ratio of about 16.00.
Price to Earnings Growth Ratio
Best Buy has a PEG Ratio of 1.11. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Best Buy has a P/B Ratio of 4.59. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.86 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NYSE

Industry Radio, television, & electronic stores

Sub-IndustryComputer & Electronics Retail

SectorRetail/Wholesale

Current SymbolNYSE:BBY

Previous Symbol

CUSIP08651610

CIK764478

Webhttp://www.bestbuy.com/

Phone612-291-1000

Debt

Debt-to-Equity Ratio0.98

Current Ratio1.10

Quick Ratio0.46

Price-To-Earnings

Trailing P/E Ratio10.63

Forward P/E Ratio9.77

P/E Growth1.11

Sales & Book Value

Annual Sales$43.64 billion

Price / Sales0.37

Cash Flow$10.89 per share

Price / Cash Flow5.67

Book Value$13.44 per share

Price / Book4.59

Profitability

EPS (Most Recent Fiscal Year)$6.07

Net Income$1.54 billion

Net Margins3.53%

Return on Equity49.17%

Return on Assets10.50%

Miscellaneous

Employees125,000

Outstanding Shares258,777,000

Market Cap$15.98 billion

Next Earnings Date5/28/2020 (Estimated)

OptionableOptionable

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Best Buy (NYSE:BBY) Frequently Asked Questions

How has Best Buy's stock been impacted by COVID-19 (Coronavirus)?

Best Buy's stock was trading at $65.37 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization. Since then, BBY stock has decreased by 5.5% and is now trading at $61.75. View which stocks have been mosted impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Best Buy?

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.

When is Best Buy's next earnings date?

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

How were Best Buy's earnings last quarter?

Best Buy Co Inc (NYSE:BBY) posted its quarterly earnings data on Thursday, February, 27th. The technology retailer reported $2.90 earnings per share (EPS) for the quarter, topping 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 return on equity of 49.17% and a net margin of 3.53%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.72 EPS. View Best Buy's earnings history.

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

Best Buy announced a quarterly dividend on Thursday, February 27th. Investors of record on Thursday, March 19th will be paid a dividend of $0.55 per share on Thursday, April 9th. This represents a $2.20 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, March 18th. This is an increase from Best Buy's previous quarterly dividend of $0.50. View Best Buy's dividend history.

How will Best Buy's stock buyback program work?

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

What guidance has Best Buy issued on next quarter's earnings?

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 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.

What price target have analysts set for BBY?

17 Wall Street analysts have issued 1 year price objectives for Best Buy's stock. Their forecasts range from $55.00 to $105.00. On average, they expect Best Buy's stock price to reach $83.31 in the next year. This suggests a possible upside of 34.9% from the stock's current price. View analysts' price targets for Best Buy.

What are Wall Street analysts saying about Best Buy stock?

Here are some recent quotes from research analysts about Best Buy stock:

1. According to Zacks Investment Research, "Shares of Best Buy have increased and outpaced the industry year to date given its robust earnings trend. The company’s earnings not only beat the Zacks Consensus Estimate for the seventh straight quarter but also rose year-over-year when it reported second-quarter fiscal 2020 results. Also, management raised the earnings view for fiscal 2020. Moving on, Best Buy’s focus on developing omnichannel capabilities, supply chain and cost containment efforts along with strengthening partnerships with vendors bode well. However, potential effects of tariffs and volatile consumer spending led management to narrow its sales projection for the fiscal. Further, higher expenses stemming from GreatCall is a threat to margins. Additionally, continued sluggishness in international segment on account of adverse currency fluctuations remains a concern." (11/7/2019)
2. Wedbush analysts commented, "JCP reports 1Q results BMO on 5/21. The company was not immune to the cold weather/ calendar shift headwinds and we expect soft metrics overall with possible offset on merchandise margin pressure after clearing non-core and low-margin merchandise in 4Q. The company started 1Q with inventory down 13%, considerably lower than sales that were down 8% in 4Q. We do not expect a significant contribution to sales from exiting the major appliance business because inventory was limited to floor samples. Our checks indicate that the majority of the floor samples in categories were sold and the floor space re-purposed." (5/17/2019)

Has Best Buy been receiving favorable news coverage?

Media stories about BBY stock have been trending very negative recently, according to InfoTrie. InfoTrie identifies negative and positive press coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of public companies on a scale of negative five to 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 stories about the technology retailer a news buzz of 0.0 out of 10, meaning that recent press coverage is extremely unlikely to have an effect on the stock's share price in the near future. View the latest news aboutBest Buy.

Are investors shorting Best Buy?

Best Buy saw a increase in short interest in 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 daily trading volume, of 2,410,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 3.1% of the shares of the company are sold short. View Best Buy's Current Options Chain.

Who are some of Best Buy's key competitors?

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

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 Intel (INTC), NVIDIA (NVDA), Home Depot (HD), Bank of America (BAC), Cisco Systems (CSCO), Netflix (NFLX), Walt Disney (DIS), Alibaba Group (BABA), Micron Technology (MU) and AT&T (T).

Who are Best Buy's key executives?

Best Buy's management team includes the following people:

Mr. Hubert Joly, Chairman & CEO (Age 60)
Ms. Corie Sue Barry, CFO & Chief Strategic Transformation Officer (Age 44)
Mr. Keith J. Nelsen, Advisor (Age 55)
Mr. R. Michael Mohan, Chief Operating Officer of Best Buy U.S. (Age 51)
Mr. Mathew Raymond Watson, Sr. VP of Fin., Controller & Chief Accounting Officer (Age 48)

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 shareholders include State of Alaska Department of Revenue (0.05%), First National Bank of Mount Dora Trust Investment Services (0.01%), Pensionfund DSM Netherlands (0.01%), Pensionfund Sabic (0.01%), CLARET ASSET MANAGEMENT Corp (0.01%) and IBM Retirement Fund (0.00%). Company insiders that own Best Buy stock include Asheesh Saksena, Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Keith J Nelsen, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Patricia H Walker, Rajendra M Mohan, Richard M Schulze, Todd G Hartman and Victor Kathy J Higgins. View institutional ownership trends for Best Buy.

Which institutional investors are selling Best Buy stock?

BBY stock was sold by a variety of institutional investors in the last quarter, including Pensionfund DSM Netherlands, and CLARET ASSET MANAGEMENT Corp. Company insiders that have sold Best Buy company stock in the last year include Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Rajendra M Mohan, Richard M Schulze, Todd G Hartman, and Victor Kathy J Higgins. View insider buying and selling activity for Best Buy.

Which institutional investors are buying Best Buy stock?

BBY stock was acquired by a variety of institutional investors in the last quarter, including State of Alaska Department of Revenue, First National Bank of Mount Dora Trust Investment Services, IBM Retirement Fund, Fulton Bank N.A., and Pensionfund Sabic. View insider buying and selling activity for Best Buy.

How do I buy shares of 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.

What is Best Buy's stock price today?

One share of BBY stock can currently be purchased for approximately $61.75.

How big of a company is Best Buy?

Best Buy has a market capitalization of $15.98 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.

What is Best Buy's official website?

The official website for Best Buy is http://www.bestbuy.com/.

How can I contact Best Buy?

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]

This page was last updated on 4/8/2020 by MarketBeat.com Staff

NYSE:BBYBest Buy Stock Price, Forecast & News

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Beat the Market (BTM) Rank™

4.3 Analyst's Opinion

Consensus Rating

Price Target Upside/Downside

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Community Sentiment