A share price of Best Buy Co. Inc. [BBY] is currently trading at $76.45, up 0.22%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The BBY shares have gain 3.66% over the last week, with a monthly amount glided 1.65%, and seem to be holding up well over a long-time horizon.
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On 21, November 2023, Best Buy Reports Third Quarter Results. In a post published today on Yahoo Finance, Comparable Sales Declined 6.9%.
From an analyst’s perspective:
Best Buy Co. Inc. [NYSE: BBY] stock has seen the most recent analyst activity on December 11, 2023, when Jefferies upgraded its rating to a Buy and also boosted its price target to $89 from $69. Previously, Telsey Advisory Group reaffirmed its Market Perform rating on November 22, 2023, and dropped its price target to $75. On October 19, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $85 on the stock. Telsey Advisory Group downgraded its rating to a Market Perform and decreased its price target to $83 on February 27, 2023. Barclays initiated its recommendation with a Equal Weight and recommended $88 as its price target on February 08, 2023. Exane BNP Paribas downgraded its rating to Neutral for this stock on January 12, 2023. In a note dated December 20, 2022, Credit Suisse initiated an Neutral rating and provided a target price of $90 on this stock.
Best Buy Co. Inc. experienced fluctuations in its stock price throughout the past year between $62.30 and $85.40. Currently, Wall Street analysts expect the stock to reach $99.4 within the next 12 months. Best Buy Co. Inc. [NYSE: BBY] shares were valued at $76.45 at the most recent close of the market. An investor can expect a potential return of 30.02% based on the average BBY price forecast.
Analyzing the BBY fundamentals
Trailing Twelve Months sales for Best Buy Co. Inc. [NYSE:BBY] were 43.54B which represents -7.85% decline. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 75.76 points at the first support level, and at 75.07 for the second support level. However, for the 1st resistance point, the stock is sitting at 77.16, and for the 2nd resistance point, it is at 77.87.
Best Buy Co. Inc. [BBY] reported earnings per share of $1.29 for its fiscal quarter that ended on 10/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.18/share, meaning a difference of $0.11 and a surprise factor of 9.30%. By comparison, the stated earnings for the previous quarter ended on 7/30/2023 were $1.22 per share as compared to estimates of $1.06 per share, a difference of $0.16 representing a surprise of 15.10%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Best Buy Co. Inc. [NYSE:BBY] is 0.99. Further, the Quick Ratio stands at 0.23, while the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 0.38, the price to book ratio is 5.88 and price to earnings (TTM) ratio is 13.19.
Transactions by insiders
Recent insider trading involved SCHULZE RICHARD M, Chairman Emeritus, that happened on Dec 20 when 0.11 million shares were sold. Chairman Emeritus, SCHULZE RICHARD M completed a deal on Dec 14 to sell 0.31 million shares. Meanwhile, Chairman Emeritus SCHULZE RICHARD M sold 48401.0 shares on Dec 11.
