Best Buy (NYSE:BBY) Updates FY25 Earnings Guidance

Best Buy (NYSE:BBY) issued an update on its FY25 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.10-6.25 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBY. Barclays boosted their target price on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. BNP Paribas raised Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. The Goldman Sachs Group increased their price target on shares of Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Melius Research started coverage on Best Buy in a report on Monday, September 23rd. They issued a “hold” rating and a $100.00 target price for the company. Finally, Evercore ISI increased their price objective on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research note on Friday, August 30th. One research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.41.

Best Buy Trading Down 4.9 %

NYSE BBY opened at $88.50 on Wednesday. Best Buy has a one year low of $68.12 and a one year 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 firm has a market cap of $19.00 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.44 and a beta of 1.47. The stock’s 50-day moving average is $94.38 and its 200-day moving average is $89.07.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating 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 analysts’ expectations of $9.23 billion. During the same quarter in the prior year, the company earned $1.22 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Best Buy will post 6.28 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.25%. The ex-dividend date was Thursday, September 19th. Best Buy’s payout ratio is 64.83%.

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.