Best Buy (BBY) Scheduled to Post Earnings on Thursday

Best Buy (NYSE:BBY) will announce its earnings results before the market opens on Thursday, May 30th. Analysts expect the company to announce earnings of $1.08 per share for the quarter. Best Buy has set its FY25 guidance at $5.75-6.20 EPS and its FY 2025 guidance at 5.750-6.200 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.21. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.61 earnings per share. On average, analysts expect Best Buy to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Best Buy Trading Down 3.0 %

Best Buy stock opened at $70.50 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.93 and a beta of 1.50. Best Buy has a 1 year low of $62.30 and a 1 year high of $86.11. The firm’s 50 day moving average price is $76.72 and its two-hundred day moving average price is $74.82.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 5.33%. This is a boost from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, March 20th. Best Buy’s payout ratio is presently 66.08%.

Insider Activity at Best Buy

In other Best Buy news, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Best Buy news, insider Todd G. Hartman sold 3,973 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $324,991.40. Following the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares in the company, valued at $32,670,060.56. The disclosure for this sale can be found here. Insiders have sold a total of 52,023 shares of company stock valued at $4,253,900 over the last quarter. 0.59% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BBY shares. UBS Group lifted their price objective on shares of Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Telsey Advisory Group raised shares of Best Buy from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $95.00 in a research note on Wednesday, March 20th. Citigroup decreased their target price on shares of Best Buy from $76.00 to $67.00 and set a “sell” rating for the company in a research note on Tuesday, May 7th. Truist Financial lifted their target price on shares of Best Buy from $68.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, Jefferies Financial Group decreased their target price on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.00.

About Best Buy

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.