Best Buy (NYSE:BBY) Issues FY25 Earnings Guidance

Best Buy (NYSE:BBY) issued an update on its FY25 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.10-6.25 for the period, compared to the consensus estimate of $6.26. The company issued revenue guidance of $41.1-41.5 billion, compared to the consensus revenue estimate of $41.54 billion. Best Buy also updated its FY 2025 guidance to 6.100-6.250 EPS.

Analysts Set New Price Targets

BBY has been the subject of several research reports. Bank of America increased their price objective on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and issued a $114.00 price target (up from $100.00) on shares of Best Buy in a report on Friday, August 30th. Truist Financial dropped their price objective on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Melius Research began coverage on Best Buy in a research note 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 given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Best Buy has a consensus rating of “Moderate Buy” and an average target price of $100.82.

Best Buy Stock Performance

Best Buy stock opened at $88.15 on Thursday. Best Buy has a 52-week low of $68.67 and a 52-week high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The stock has a fifty day moving average price of $94.16 and a two-hundred day moving average price of $89.07. The firm has a market capitalization of $18.93 billion, a P/E ratio of 15.20, a P/E/G ratio of 2.44 and a beta of 1.47.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.22 EPS. As a group, analysts anticipate that Best Buy will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, December 17th. Best Buy’s payout ratio is currently 64.83%.

Best Buy Company Profile

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.