Best Buy (NYSE:BBY) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Best Buy (NYSE:BBY) posted its quarterly earnings data on Thursday. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18, RTT News reports. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. Best Buy updated its FY 2025 guidance to 6.100-6.350 EPS and its FY25 guidance to $6.10-$6.35 EPS.

Best Buy Stock Performance

NYSE BBY opened at $87.79 on Thursday. The company has a fifty day moving average price of $85.58 and a 200-day moving average price of $80.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.33. The firm has a market cap of $18.94 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.76 and a beta of 1.48. Best Buy has a 1 year low of $62.30 and a 1 year high of $93.72.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.28%. Best Buy’s payout ratio is 65.85%.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the sale, the chairman now directly owns 15,890,103 shares of the company’s stock, valued at $1,364,165,342.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $85.85, for a total value of $85,850,000.00. Following the transaction, the chairman now directly owns 15,890,103 shares in the company, valued at $1,364,165,342.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 691,328 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,383,370 shares of company stock valued at $208,083,276. 0.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial reiterated a “hold” rating and issued a $86.00 price objective on shares of Best Buy in a report on Monday, July 1st. Loop Capital raised their target price on shares of Best Buy from $93.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Best Buy in a research note on Friday, August 23rd. DA Davidson increased their target price on shares of Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, UBS Group upgraded shares of Best Buy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $106.00 in a research report on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.87.

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.