Best Buy Co., Inc. (NYSE:BBY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Best Buy Co., Inc. (NYSE:BBY) have been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $101.06.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Wells Fargo & Company dropped their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. UBS Group decreased their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. The Goldman Sachs Group boosted their target price on shares of Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Citigroup lowered their price target on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th.

Best Buy Stock Performance

Shares of NYSE:BBY opened at $88.17 on Wednesday. The business has a 50-day moving average of $92.84 and a two-hundred day moving average of $89.97. The firm has a market capitalization of $18.93 billion, a PE ratio of 15.07, a P/E/G ratio of 2.27 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy has a 12 month low of $69.29 and a 12 month high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, research analysts forecast that Best Buy will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Tuesday, December 17th. Best Buy’s payout ratio is currently 64.27%.

Institutional Trading of Best Buy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its holdings in Best Buy by 1.3% in the 3rd quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock valued at $855,000 after acquiring an additional 103 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Best Buy by 1.2% in the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after buying an additional 108 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Best Buy by 4.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock valued at $276,000 after acquiring an additional 118 shares during the last quarter. Tobam grew its holdings in shares of Best Buy by 15.6% in the 2nd quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after acquiring an additional 121 shares during the last quarter. Finally, Hoxton Planning & Management LLC lifted its holdings in shares of Best Buy by 3.7% during the third quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock valued at $360,000 after purchasing an additional 124 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Company Profile

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.