Best Buy (BBY) Scheduled to Post Quarterly Earnings on Tuesday

Best Buy (NYSE:BBY) will issue its quarterly earnings data before the market opens on Tuesday, November 26th. Analysts expect the company to announce earnings of $1.30 per share for the quarter. Best Buy has set its FY 2025 guidance at 6.100-6.350 EPS and its FY25 guidance at $6.10-$6.35 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same period last year, the business earned $1.22 EPS. Best Buy’s quarterly revenue was down 3.1% compared to the same quarter last year. 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 Up 3.5 %

NYSE:BBY opened at $89.54 on Monday. Best Buy has a one year low of $67.80 and a one year high of $103.71. The company’s 50-day simple moving average is $94.72 and its 200 day simple moving average is $88.84. The firm has a market capitalization of $19.23 billion, a P/E ratio of 15.44, a PEG ratio of 2.26 and a beta of 1.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 4.20%. Best Buy’s payout ratio is currently 64.83%.

Analyst Ratings Changes

A number of research analysts have issued reports on BBY shares. UBS Group lifted their price objective on Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Evercore ISI lifted their price target on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research report on Friday, August 30th. Truist Financial increased their price objective on shares of Best Buy from $86.00 to $107.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $114.00 target price (up from $100.00) on shares of Best Buy in a report on Friday, August 30th. Finally, Melius Research initiated coverage on shares of Best Buy in a report on Monday, September 23rd. They set a “hold” rating and a $100.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and an average target price of $103.71.

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.