Best Buy Co., Inc. (BBY) To Go Ex-Dividend on September 17th

Best Buy Co., Inc. (NYSE:BBY) declared a quarterly dividend on Thursday, August 27th. Stockholders of record on Thursday, September 17th will be paid a dividend of 0.96 per share by the technology retailer on Thursday, October 8th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, September 17th.

Best Buy has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 22 years. Best Buy has a payout ratio of 57.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Best Buy to earn $7.25 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 53.0%.

Best Buy Trading Up 4.4%

Best Buy stock opened at $94.81 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. Best Buy has a 52 week low of $55.10 and a 52 week high of $94.92. The company has a market capitalization of $19.88 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.27 and a beta of 1.28. The stock has a 50-day moving average price of $85.58 and a 200 day moving average price of $73.12.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. Best Buy’s revenue for the quarter was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts anticipate that Best Buy will post 6.82 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on BBY shares. Jefferies Financial Group lowered Best Buy from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $89.00 to $85.00 in a research report on Wednesday, August 5th. The Goldman Sachs Group increased their target price on shares of Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research note on Friday, August 28th. Wall Street Zen upgraded Best Buy from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Loop Capital lowered Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price objective on the stock. in a report on Monday, July 13th. Finally, Barclays upped their target price on Best Buy from $77.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.40.

Best Buy Company Profile

Best Buy Co, Inc is a specialty retailer of technology products and services operating under the Best Buy brand. The company sells consumer electronics, computers, mobile phones, appliances, entertainment products, smart-home equipment, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology support, installation, repair, and consultation services through Geek Squad. Its offerings include assistance with device setup, home theater installation, computer and appliance support, and technology solutions for consumers and small businesses.