Best Buy (NYSE:BBY) Updates FY25 Earnings Guidance

Best Buy (NYSE:BBY) updated its FY25 earnings guidance on Tuesday. The company provided EPS guidance of $6.10-6.25 for the period, compared to the consensus EPS estimate of $6.26. The company issued revenue guidance of $41.1-41.5 billion, compared to the consensus revenue estimate of $41.54 billion. Best Buy also updated its FY 2025 guidance to 6.100-6.250 EPS.

Best Buy Stock Up 3.9 %

Shares of NYSE:BBY opened at $93.03 on Tuesday. Best Buy has a fifty-two week low of $68.12 and a fifty-two week high of $103.71. The firm’s 50 day moving average price is $94.60 and its 200 day moving average price is $88.97. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.98 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.34 and a beta of 1.47.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. As a group, equities research analysts predict that Best Buy will post 6.28 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 4.04%. Best Buy’s dividend payout ratio is currently 64.83%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BBY shares. Wells Fargo & Company boosted their target price on Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Wedbush upped their target price on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $114.00 target price (up from $100.00) on shares of Best Buy in a research report on Friday, August 30th. Evercore ISI upped their price objective on shares of Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research note on Friday, August 30th. Finally, UBS Group raised their price objective on Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Best Buy currently has an average rating of “Moderate Buy” and a consensus target price of $103.71.

About Best Buy

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.