Best Buy Co. Receives “Buy” Rating from UBS AG (BBY)
Best Buy Co. (NYSE:BBY)‘s stock had its “buy” rating reaffirmed by equities researchers at UBS AG in a research report issued on Thursday, Stock Ratings Network.com reports.
Best Buy Co. (NYSE:BBY) traded up 2.08% on Thursday, hitting $35.81. The stock had a trading volume of 5,104,375 shares. Best Buy Co. has a 52 week low of $11.20 and a 52 week high of $35.68. The stock has a 50-day moving average of $30.52 and a 200-day moving average of $25.23. The company’s market cap is $12.190 billion.
Best Buy Co. (NYSE:BBY) last released its earnings data on Tuesday, August 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.20. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Best Buy Co. will post $2.36 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BBY. Analysts at SunTrust raised their price target on shares of Best Buy Co. from $38.00 to $42.00 in a research note to investors on Wednesday, August 21st. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Best Buy Co. from $31.00 to $41.00 in a research note to investors on Wednesday, August 21st. They now have an “outperform” rating on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Best Buy Co. from $23.00 to $30.00 in a research note to investors on Wednesday, August 21st. They now have a “market perform” rating on the stock.
Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $35.78.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, September 6th.
Best Buy Co, Inc is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.