In the latest trading session, 3.66 million Best Buy Co. Inc. (NYSE:BBY) shares changed hands as the company’s beta touched 1.52. With the company’s most recent per share price at $66.42 changed hands at -$1.69 or -2.48% at last look, the market valuation stands at $14.46B. BBY’s current price is a discount, trading about -40.5% off its 52-week high of $93.32. The share price had its 52-week low at $62.30, which suggests the last value was 6.2% up since then. When we look at Best Buy Co. Inc.’s average trading volume, we note the 10-day average is 3.61 million shares, with the 3-month average coming to 2.49 million.
Analysts gave the Best Buy Co. Inc. (BBY) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.76. If we narrow down to specifics, the data shows that 2 out of 29 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 19 recommended BBY as a Hold, 5 felt it is a Buy and 1 rated the stock as Underweight. Best Buy Co. Inc.’s EPS for the current quarter is expected to be $1.18.
Best Buy Co. Inc. (NYSE:BBY) trade information
Instantly BBY was in red as seen in intraday trades today. With action -0.09%, the performance over the past five days has been red. The drop to weekly highs of 69.24 on Monday, 11/20/23 subtracted -2.48% to the stock’s daily price. The company’s shares are showing year-to-date downside of -17.19%, with the 5-day performance at -0.09% in the red. However, in the 30-day time frame, Best Buy Co. Inc. (NYSE:BBY) is -2.61% down. Looking at the short shares, we see there were 12.76 million shares sold at short interest cover period of 6.25 days.
The consensus price target for the stock as assigned by Wall Street analysts is $76.96, meaning bulls need an upside of 13.7% from its recent market value. According to analyst projections, BBY’s forecast low is $60.00 with $90.00 as the target high. To hit the forecast high, the stock’s price needs a -35.5% plunge from its current level, while the stock would need to tank 9.67% for it to hit the projected low.
Best Buy Co. Inc. (BBY) estimates and forecasts
Data shows that the Best Buy Co. Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -4.42% over the past 6 months, a -12.15% in annual growth rate that is considerably lower than the industry average of -12.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Best Buy Co. Inc. will fall -14.50%, while the growth in revenue is estimated to hit 2.30% for the next quarter. Year-over-year growth is forecast to reach -4.60% down from the last financial year.
Consensus estimates given by 18 financial analysts project the company’s revenue in the current quarter to hit an average of $9.9 billion. 18 analysts are of the opinion that Best Buy Co. Inc.’s revenue for the quarter ending Jan 2024 will be $15.18 billion. The estimates for the next quarter sales put growth at 3.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 14.06%. The 2023 estimates are for Best Buy Co. Inc. earnings to decrease by -12.54%, but the outlook for the next 5-year period is at 3.40% per year.
Best Buy Co. Inc. is expected to release its next quarterly earnings report on November 21. The 5.53% annual yield figure for the share gives it an annual dividend of 3.67. It is important to note, however, that the 5.53% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Best Buy Co. Inc. (NYSE:BBY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.12% of Best Buy Co. Inc. shares while 82.36% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 92.66%. There are 82.36% institutions holding the Best Buy Co. Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.01% of the shares, roughly 23.96 million BBY shares worth $1.96 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.37% or 20.39 million shares worth $1.67 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 6.12 million shares estimated at $501.82 million under it, the former controlled 2.81% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.13% of the shares, roughly 4.63 million shares worth around $379.74 million.