Best Buy Co. Inc. Hits New 52-Week High at $39.28 (BBY)
Best Buy Co. (NYSE:BBY)’s share price reached a new 52-week high during trading hours on Thursday, Analyst Ratings Network.com reports. The company traded as high as $39.28 and last traded at $39.14, with a volume of 3,674,661 shares traded. The stock had previously closed at $39.05.
BBY has been the subject of a number of recent research reports. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Best Buy Co. (NYSE:BBY) in a research note to investors on Tuesday. Separately, analysts at Bank of America Corp. reiterated a “hold” rating on shares of Best Buy Co. (NYSE:BBY) in a research note to investors on Friday, September 13th. They now have a $38.00 price target on the stock. Finally, analysts at BB&T Corp. raised their price target on shares of Best Buy Co. (NYSE:BBY) from $42.00 to $45.00 in a research note to investors on Friday, September 13th. They now have a “buy” rating on the stock.
Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.11.
In other Best Buy Co. news, Chairman Richard M. Schulze sold 462,337 shares of Best Buy Co. stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $37.39, for a total transaction of $17,286,780.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Best Buy Co. has a 52-week low of $11.20 and a 52-week high of $39.19. The stock’s 50-day moving average is $34.39 and its 200-day moving average is $27.85. The company’s market cap is $13.353 billion.
Best Buy Co. (NYSE:BBY) last issued its quarterly 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. Analysts expect that Best Buy Co. will post $2.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.74%. The ex-dividend date 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.
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