The Best Buy Co Inc (BBY) Stock Rating Reaffirmed by Wedbush

The Best Buy Co Inc (BBY) Stock Rating Reaffirmed by Wedbush

A number of other research analysts have also recently issued reports on BBY. Sanford C. Bernstein reaffirmed a “sell” rating on shares of Best Buy Co in a report on Saturday, April 8th. Royal Bank of Canada raised their price objective on shares of Best Buy Co from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 2nd. Barclays PLC set a $50.00 price objective on shares of Best Buy Co and gave the stock a “buy” rating in a research note on Saturday, February 18th. Jefferies Group LLC restated a “buy” rating and set a $43.00 target price on shares of Best Buy Co in a research report on Thursday, March 2nd. Finally, Credit Suisse Group AG restated a “buy” rating and set a $47.00 target price on shares of Best Buy Co in a research report on Friday, March 3rd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have assigned a buy rating to the stock. Best Buy Co presently has an average rating of “Buy” and a consensus price target of $53.69.

Best Buy Co Inc (NYSE:BBY)‘s stock had its “underperform” rating reiterated by equities researchers at Wedbush in a research note issued to investors on Monday, May 22nd. They presently have a $29.00 price target on the technology retailer’s stock. Wedbush’s price objective would suggest a potential downside of 51.40% from the stock’s current price.

Best Buy Co (BBY) opened at 59.67 on Monday. Best Buy Co has a 1-year low of $28.76 and a 1-year high of $61.95. The stock has a 50 day moving average price of $52.67 and a 200 day moving average price of $47.21. The stock has a market cap of $18.45 billion, a PE ratio of 16.05 and a beta of 1.59.

Best Buy Co (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.20. Best Buy Co had a net margin of 2.78% and a return on equity of 24.18%. The firm had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Best Buy Co will post $3.89 EPS for the current fiscal year. The company also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, June 13th. Best Buy Co’s payout ratio is 33.73%.

Best Buy Co (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.20. Best Buy Co had a net margin of 2.78% and a return on equity of 24.18%. The firm had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Best Buy Co will post $3.89 EPS for the current fiscal year. In other news, General Counsel Keith J. Nelsen sold 55,153 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $59.01, for a total value of $3,254,578.53. Following the completion of the sale, the general counsel now directly owns 89,306 shares of the company’s stock, valued at approximately $5,269,947.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mathew Watson sold 14,568 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $60.43, for a total transaction of $880,344.24. Following the completion of the sale, the vice president now directly owns 21,872 shares of the company’s stock, valued at $1,321,724.96. The disclosure for this sale can be found here. Insiders have sold a total of 404,235 shares of company stock valued at $20,524,764 over the last three months. 1.21% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Best Buy Co during the third quarter worth approximately $109,000. Harvest Fund Management Co. Ltd acquired a new stake in Best Buy Co during the fourth quarter worth approximately $122,000. Tompkins Financial Corp acquired a new stake in Best Buy Co during the first quarter worth approximately $134,000. Advisory Services Network LLC acquired a new stake in Best Buy Co during the first quarter worth approximately $134,000. Finally, Heritage Trust Co acquired a new stake in Best Buy Co during the first quarter worth approximately $137,000. Institutional investors and hedge funds own 86.57% of the company’s stock. Best Buy Co Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BBY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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