Best Buy (NYSE:BBY) Posts Earnings Results

Best Buy (NYSE:BBYGet Free Report) issued its quarterly earnings data on Thursday. The technology retailer reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12, RTT News reports. The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. Best Buy updated its FY 2025 guidance to 5.750-6.200 EPS and its FY25 guidance to $5.75-$6.20 EPS.

Best Buy Stock Performance

Shares of BBY stock opened at $84.82 on Friday. Best Buy has a 12 month low of $62.30 and a 12 month high of $86.11. The stock has a market capitalization of $18.35 billion, a P/E ratio of 14.85, a PEG ratio of 2.44 and a beta of 1.50. The company has a current ratio of 1.01, a quick ratio of 0.37 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $76.16 and its 200 day moving average is $75.31.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th will be paid a $0.94 dividend. The ex-dividend date is Thursday, June 20th. This represents a $3.76 annualized dividend and a dividend yield of 4.43%. Best Buy’s payout ratio is 65.85%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised Best Buy from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $89.00 to $101.00 in a research note on Friday, March 22nd. UBS Group raised their price objective on Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Citigroup cut their price objective on shares of Best Buy from $76.00 to $67.00 and set a “sell” rating on the stock in a report on Tuesday, May 7th. The Goldman Sachs Group increased their target price on shares of Best Buy from $81.00 to $90.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Evercore ISI boosted their price target on shares of Best Buy from $80.00 to $90.00 and gave the stock an “in-line” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Best Buy presently has an average rating of “Hold” and a consensus target price of $86.36.

Get Our Latest Report on BBY

Insider Activity at Best Buy

In other news, insider Todd G. Hartman sold 3,973 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the transaction, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kathleen Scarlett sold 5,096 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $416,852.80. Following the completion of the transaction, the executive vice president now owns 76,226 shares of the company’s stock, valued at $6,235,286.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the sale, the insider now owns 25,912 shares in the company, valued at $2,119,601.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,023 shares of company stock worth $4,253,900. Corporate insiders own 0.59% of the company’s stock.

Best Buy Company Profile

(Get Free Report)

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone 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 products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.

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Earnings History for Best Buy (NYSE:BBY)

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