Best Buy (NYSE:BBY) Releases FY 2025 Earnings Guidance

Best Buy (NYSE:BBY) updated its FY 2025 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.100-6.350 for the period, compared to the consensus estimate of 6.080. The company issued revenue guidance of $41.3 billion-$41.9 billion, compared to the consensus revenue estimate of $41.8 billion. Best Buy also updated its FY25 guidance to $6.10-$6.35 EPS.

Analysts Set New Price Targets

BBY has been the subject of several analyst reports. Wedbush reaffirmed a neutral rating and issued a $85.00 price objective on shares of Best Buy in a report on Tuesday, May 28th. Truist Financial reaffirmed a hold rating and issued a $86.00 price objective on shares of Best Buy in a report on Monday, July 1st. DA Davidson lifted their price target on Best Buy from $90.00 to $95.00 and gave the company a buy rating in a research note on Friday, May 31st. Telsey Advisory Group reiterated an outperform rating and issued a $95.00 price target on shares of Best Buy in a research note on Friday, August 23rd. Finally, Citigroup upgraded Best Buy from a sell rating to a buy rating and boosted their price objective for the stock from $67.00 to $100.00 in a research report on Monday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $90.87.

Best Buy Stock Performance

Shares of NYSE:BBY traded up $13.83 during trading on Thursday, hitting $101.62. 6,780,517 shares of the company were exchanged, compared to its average volume of 3,086,325. The company has a market cap of $21.92 billion, a PE ratio of 17.38, a P/E/G ratio of 2.76 and a beta of 1.48. The stock has a 50 day moving average of $85.58 and a 200 day moving average of $80.79. Best Buy has a 52-week low of $62.30 and a 52-week high of $103.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.33.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. Best Buy had a return on equity of 47.56% and a net margin of 2.90%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter last year, the business posted $1.22 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Best Buy will post 6.11 EPS for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.70%. Best Buy’s dividend payout ratio is 65.85%.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. In related news, Chairman Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction that occurred on Monday, June 3rd. The stock was 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 in the company, valued at $1,364,165,342.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 691,328 shares of Best Buy stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, 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 three months, insiders have sold 2,383,370 shares of company stock valued at $208,083,276. Corporate insiders own 0.59% of the company’s stock.

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.