BBY - Best Buy Co., Inc.

NYSE - NYSE Delayed Price. Currency in USD
78.09
+1.66 (+2.17%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close76.43
Open76.31
Bid78.28 x 800
Ask78.99 x 1400
Day's Range75.53 - 78.71
52 Week Range48.11 - 91.99
Volume4,209,080
Avg. Volume3,226,471
Market Cap20.171B
Beta (5Y Monthly)1.50
PE Ratio (TTM)13.58
EPS (TTM)5.75
Earnings DateAug 27, 2020 - Aug 31, 2020
Forward Dividend & Yield2.20 (2.88%)
Ex-Dividend DateJun 10, 2020
1y Target Est80.22
  • Where Will Best Buy Be in 1 Year?
    Motley Fool

    Where Will Best Buy Be in 1 Year?

    The new business model seems to be working for Best Buy -- and a year from today could look a lot like today.

  • Forget Foot Locker: Best Buy Is the Better Retail Stock
    Motley Fool

    Forget Foot Locker: Best Buy Is the Better Retail Stock

    Not only was Best Buy a stronger company heading into the crisis, but its relative strength over Foot Locker is also only likely to accelerate in the months and years ahead. Both companies reported their first-quarter results last week, illustrating the key differences in their business models, sensitivity to stay-at-home orders, and giving a sneak peak into why Best Buy is the more solid pick of the two. During the May quarter, in which Best Buy, Foot Locker, and other retailers were forced to shut their doors to customers, Best Buy's business resilience was clearly on display.

  • The Street Debates Whether Best Buy Investors Should Buy The Dip
    Benzinga

    The Street Debates Whether Best Buy Investors Should Buy The Dip

    Electronics retailer Best Buy Co., Inc. (NYSE: BBY) reported Thursday first quarter results, highlighted by a 5.7% year-over-year drop in comps which was still better than expected. EPS also came in better than expected but the stock traded lower as investors debated its outlook in an uncertain retail environment.The Best Buy Analysts Morgan Stanley analyst Simeon Gutman maintains an Equal-weight rating on Best Buy's stock with a price target lifted from $75 to $85.Oppenheimer analyst Brian Nagel maintains at Outperform, unchanged $105 price target.KeyBanc Capital Markets Bradley Thomas maintains at Sector Weight, no price target.BofA Securities analyst Curtis Nagle maintains at Neutral, unchanged $80 price target.Raymond James analyst Matthew McClintock maintains at Strong Buy, unchanged $100 price target.7 Takeaways On Best Buy's Q1 Best Buy's first quarter earnings report is highlighted by seven key takeaways, Morgan Stanley's Gutman said in a note. They are: 1\. Comps of 5.7% missed a flat-to-negative, low single-digit figure investors expected, but stimulus measures helped lift sales late in the quarter.2\. Sales were impacted by a greater-than-expected impact from store closures, while some rivals kept all of their stores open throughout the quarter.3\. Despite potential share loss in the quarter, Best Buy has a "realistic path" to growing market share, especially from smaller regional and independent rivals.4\. Online sales were up 155% in the quarter versus an average of 16% growth over the past three years. Management deserves credit for showcasing "the sophistication" of its investments in a multichannel business.5\. Gross margins were down 70 basis points in the quarter and margin headwinds should continue throughout 2020, mostly due to unusually high online sales.6\. SG&A declined by roughly $100 million from last year, as the company may be relatively insulated versus other retailers.7\. The company faces "a few tougher quarters" in 2020, although its outlook for 2021 is unchanged.Related Link: Retail Pro Says Giants Like Amazon, Walmart Will Prevail After Coronavirus: 'It's Not Fair'Checking In With Best Buy Management Oppenheimer analysts spoke with Best Buy's senior management to discuss its earnings report and underlying trends, Nagel wrote in a note.The five highlights include:View more earnings on BBY1\. Best Buy's digital platform and omnichannel capabilities are "responding well" to a shift toward online sales.2\. Physical stores remain an important part of the business, as 65% of all sales are shipped or picked up from a physical store.3\. The company is exploring ways of installing and repairing items in homes.4\. In-store services will remain a key component of the business with health precautions.5\. Sales of TVs and large appliances saw an uptick as customers got used to the new curbside business model.Best Buy's COVID-19 Update Best Buy pivoted its stores in late March toward an enhanced curbside-service only model and paused all in-home delivery options, KeyBanc's Thomas wrote in a note. Encouragingly, the company highlighted very strong demand for in-home installations and repairs in the face of social distancing worries.The company did furlough around 51,000 domestic hourly store workers and close to all part-time workers in April. But Best Buy still managed to retain 82% of full-time store and field employees.In late April, Best Buy resumed large product delivery and in-home installations and repairs for new orders and started to open its doors to clients in new May through a new appointment system."Looking ahead, management is evaluating additional changes, including expanding store hours and opening some stores beyond the current appointment-only model," the analyst wrote.Debate On Best Buy's Near-Term Outlook What's next for Best Buy in an uncertain retail environment is up for debate.On one hand, a potentially "very weak" macro environment makes the case for investors to hold a cautious stance due to a "give back in demand," BofA's Nagle said in a note.Management didn't issue any full-year guidance, but said it saw strong sales retention trends so far in the second quarter.Best Buy hasn't signaled when it expects all stores to reopen and may extend store hours or open some locations beyond the appointment-only model at 700 locations, the analyst said. Given a strong sales retention trend so far in the quarter, "this measured approach makes sense."On the other hand, Raymond James analyst McClintock said Best Buy's outlook remains favorable, as it has sufficient liquidity to outlast any economic uncertainty while still making investments on capturing future market share growth. At a time when others are holding a cautious stance, Raymond James is doing the opposite. The research firm is lifting its fiscal 2021 EPS outlook from $4.85 to $5.30 due to an improved comp sales outlook and "somewhat more optimism" on the COVID-19 recovery path.BBY Price Action Best Buy shares were down 1.66% at $76.92 at the close Friday.Related Link: Chop Chop: Strong Earnings Lift Markets After Tuesday Thud; FOMC Minutes AheadPhoto via Wikimedia. Latest Ratings for BBY DateFirmActionFromTo May 2020Nomura InstinetMaintainsNeutral May 2020Morgan StanleyMaintainsEqual-Weight May 2020BarclaysMaintainsOverweight View More Analyst Ratings for BBY View the Latest Analyst Ratings See more from Benzinga * Retail Pro Says Giants Like Amazon, Walmart Will Prevail After Coronavirus: 'It's Not Fair'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Reuters

    US STOCKS-Wall Street ends mixed as China-U.S. tensions weigh

    Wall Street ended mixed on Friday in a mostly tame finish to a week of strong gains, as investors gauged China-U.S. tensions and amid ongoing uncertainty about the pace of economic recovery from the coronavirus. President Donald Trump's warning on Thursday that the U.S. would react strongly to China's plan for a national security law in Hong Kong has raised concerns over Washington and Beijing's possibly reneging on their Phase 1 trade deal. Late in the session, stocks edged lower after the U.S. Commerce Department said it was adding 33 Chinese companies and other institutions to an economic blacklist for human rights violations and to address U.S. national security concerns.

  • Reuters

    US STOCKS-Wall Street mixed as China-U.S. tensions weigh

    Wall Street was mixed on Friday in a mostly tame finish to a week of strong gains, as investors gauged China-U.S. tensions and amid ongoing uncertainty about the pace of economic recovery from the coronavirus. President Donald Trump's warning on Thursday that the U.S. would react strongly to China's plan for a national security law in Hong Kong has raised concerns over Washington and Beijing's possibly reneging on their Phase 1 trade deal. The rhetoric knocked Wall Street off multi-month highs, although the main indexes were still set to add over 2% for the week, fueled by optimism about an eventual coronavirus vaccine and the easing of virus-related curbs.

  • US STOCKS-Wall St flat amid Sino-U.S. tensions, economic uncertainty
    Reuters

    US STOCKS-Wall St flat amid Sino-U.S. tensions, economic uncertainty

    U.S. stock indexes moved in a flat-to-low range on Friday as investors gauged Sino-U.S. tensions amid continued uncertainty over the pace of economic recovery from the coronavirus. President Donald Trump's warning on Thursday that the U.S. would react strongly to China's plan for a national security law in Hong Kong raised concerns over Washington and Beijing possibly reneging on their Phase-1 trade deal. The rhetoric knocked Wall Street off multi-month highs, although the main indexes were still set to add between 2.8% and 3.1% for the week on optimism over a vaccine and the easing of virus-related curbs.

  • Reuters

    US STOCKS-Wall St dips as U.S.-China tensions add to economic woes

    U.S. stock indexes dropped on Friday as Sino-U.S. tensions weighed on markets struggling to gauge the pace of economic recovery from the coronavirus. President Donald Trump's statement on China's plan for a national security law in Hong Kong on Thursday raised concerns over Washington and Beijing possibly reneging on their Phase-1 trade deal. The three main U.S. stock indexes have kept to a tight range in May, but are still on course for weekly gains between 2.5% and 2.8%.

  • Reuters

    US STOCKS-Wall St dips on U.S.-China tensions, economic woes

    U.S. stock indexes moved in a flat-to-low range on Friday as simmering Sino-U.S. tensions weighed on markets struggling to gauge the pace of economic recovery from the coronavirus. President Donald Trump's rhetoric against China's plan for a national security law in Hong Kong on Thursday raised concerns over Washington and Beijing reneging on their phase-1 trade deal.

  • Reuters

    US STOCKS-Wall St set for muted open on simmering U.S.-China tensions

    U.S. stock indexes were set for a near-flat open on Friday as investors weighed hopes of more stimulus to revive an ailing economy against simmering Sino-U.S. trade tensions. "Market sentiment is really vulnerable to expensive valuation at the moment," said Andrea Cicione, head of strategy at TS Lombard.

  • Best Buy Announces Regular Quarterly Cash Dividend
    Business Wire

    Best Buy Announces Regular Quarterly Cash Dividend

    The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.55 per common share. The quarterly dividend is payable on July 2, 2020, to shareholders of record as of the close of business on June 11, 2020. The company had 257,608,566 shares of common stock issued and outstanding as of May 2, 2020.

  • Reuters

    US STOCKS-Wall Street finishes down as U.S.-China tensions heighten trade deal worries

    President Donald Trump said the United States would react strongly if China imposes national security laws for Hong Kong in response to last year's often violent pro-democracy protests. "It seems like China is going to be used as a punching bag for the upcoming elections," said Bob Shea, CEO and co-chief investment officer at TrimTabs Asset Management in New York. The S&P 500 has surged over 30% from its March low, but it remains down about 13% from its Feb. 19 record high.

  • Reuters

    US STOCKS-Wall Street finishes down on U.S.-China tensions

    Wall Street ended lower on Thursday, a day after hitting two-month highs, on a fresh wave of China-U.S. tensions that raised doubts about the trade deal reached early this year between the world's two largest economies. President Donald Trump said the United States would react strongly if China imposes national security laws for Hong Kong in response to last year's often violent pro-democracy protests. Earlier, Secretary of State Mike Pompeo criticized Beijing's handling of the coronavirus outbreak, while a Chinese official said the country will not flinch from any escalation in tensions.

  • Why Best Buy Stock Just Sold Off by 4%
    Motley Fool

    Why Best Buy Stock Just Sold Off by 4%

    Shares of big box electronics retailer Best Buy (NYSE: BBY) sold off by nearly 6% in early trading Thursday, after reporting Q1 2021 earnings, before climbing back to about a 3.8% loss as of 2:35 p.m. EDT. Curiously, though, Best Buy's earnings were better than expected, not worse. Heading into earnings, analysts had predicted Best Buy would earn $0.60 per share on sales of $8.35 billion.

  • Coronavirus update: Global case tally passes 5 million; U.S. scientist says don’t rely on a vaccine, job losses continue
    MarketWatch

    Coronavirus update: Global case tally passes 5 million; U.S. scientist says don’t rely on a vaccine, job losses continue

    The global case tally for the coronavirus that causes COVID-19 passed 5 million on Thursday after the biggest one-day increase since the start of the outbreak, as a top U.S. scientist cautioned that people should not rely on a vaccine and the labor market continued to show massive job losses.

  • Reuters

    US STOCKS-U.S.-China tensions pull Wall Street lower

    Wall Street receded on Thursday, a day after hitting two-month highs, on a fresh wave of China-U.S. tensions, raising doubts about the trade deal reached early this year between the world's two largest economies. President Donald Trump said the United States would react strongly if China imposes national security laws for Hong Kong in response to last year's often violent pro-democracy protests. The recent souring relations between the world's two largest economies over the coronavirus pandemic has raised doubts about the Phase 1 trade deal signed earlier this year, interrupting a rally on the U.S. stock market.

  • GuruFocus.com

    Best Buy Beats 1st-Quarter Earnings and Revenue Expectations

    Retailer withdrew its financial forecast for fiscal 2021 due to global uncertainty Continue reading...

  • Reuters

    Americans splurge at Walmart, Target as stimulus checks kick in

    The Trump Administration's coronavirus relief payment provided a fillip to sales of major retailers in April as millions of Americans used the money to buy everything from video games to sewing machines even as the country struggles with record job losses. Walmart and Target Corp noted in their earnings call this week that quarterly comparable sales, which rose about 10%, got a major boost from increased demand for non-essentials at the end of last month. "Call it relief spending, as it was heavily influenced by stimulus dollars," Walmart Chief Executive Doug McMillon said on Tuesday, citing a jump in sales of clothing, televisions, video games, sporting goods and toys.

  • US STOCKS-Wall Street slips on rising U.S.-China tensions, recovery worries
    Reuters

    US STOCKS-Wall Street slips on rising U.S.-China tensions, recovery worries

    Wall Street's main indexes eased on Thursday from more than two-month highs hit in the previous session, as growing Sino-U.S. tensions and concerns about a rebound from a coronavirus-led economic slump hit sentiment. President Donald Trump said the United States would react strongly if China imposes national security laws for Hong Kong in response to last year's often violent pro-democracy protests. The souring relations between the world's two largest economies over the outbreak has made investors nervous about the Phase 1 trade deal signed earlier this year and stalled a strong rally in Wall Street's main indexes this month.

  • Victoria’s Secret to close 250 stores, Macy’s warns of $1B quarterly loss
    Yahoo Finance Video

    Victoria’s Secret to close 250 stores, Macy’s warns of $1B quarterly loss

    Victoria’s Secret parent company L Brands reported a 37% drop in sales in its first-quarter earnings report. Yahoo Finance’s Brian Sozzi joins the On The Move panel to discuss how retailers are faring during the virus outbreak.

  • Reuters

    US STOCKS-S&P 500 flat as investors weigh trade tensions; TJX surges

    The S&P 500 index was largely unchanged on Thursday as growing U.S.-China trade tensions and concerns about a rebound from a coronavirus-led economic slump were offset by an upbeat outlook from retailer TJX. The discount chain's shares jumped 7.6% to a more than two-month high and were the biggest boost to the benchmark S&P 500 after it flagged strong sales at its stores that had reopened post-coronavirus lockdowns.

  • TheStreet.com

    Best Buy Tops Q1 Earnings Forecast as Digital Sales Rocket; Confirms Cash Dividend

    Best Buy said its transition to curbside pickup helped online sales rise by a staggering 155% from last year, offsetting reduced foot traffic and partial store closures and driving first quarter profits.

  • Another 2.4 million Americans filed for unemployment benefits
    Yahoo Finance Video

    Another 2.4 million Americans filed for unemployment benefits

    In the week ending May 16th, another 2.4 million Americans filed for unemployment benefits. Yahoo Finance's Emily McCormick joins The First Trade to discuss jobless claims, in addition to Best Buy and TJX earnings reports.