Best Buy Co Inc Declares Quarterly Dividend of $0.17 (BBY)
Best Buy Co (NYSE:BBY) announced a quarterly dividend on Friday, May 23rd, AnalystRatings.Net reports. Shareholders of record on Thursday, June 12th will be paid a dividend of 0.17 per share on Thursday, July 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.59%.
A number of analysts have recently weighed in on BBY shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of Best Buy Co from $34.00 to $35.00 in a research note on Friday. They now have a “buy” rating on the stock. On a related note, analysts at RBC Capital raised their price target on shares of Best Buy Co from $33.00 to $34.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Best Buy Co in a research note on Friday. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Best Buy Co presently has an average rating of “Buy” and an average target price of $41.53.
Best Buy Co (NYSE:BBY) opened at 26.22 on Friday. Best Buy Co has a 1-year low of $22.15 and a 1-year high of $44.66. The stock’s 50-day moving average is $25.69 and its 200-day moving average is $30.96. The company has a market cap of $9.099 billion and a price-to-earnings ratio of 16.53. Best Buy Co also was the target of unusually large options trading on Tuesday. Stock investors acquired 17,654 put options on the stock. This is an increase of approximately 641% compared to the average volume of 2,384 put options.
Best Buy Co (NYSE:BBY) last released its earnings data on Thursday, May 22nd. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.13. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the company posted $0.36 earnings per share. Best Buy Co’s revenue was down 3.3% compared to the same quarter last year. On average, analysts predict that Best Buy Co will post $2.20 earnings per share for the current fiscal year.
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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