The stock of Best Buy Co. Inc. (NYSE:BBY) increased by $2.86 on Tuesday to finish at $76.93, up 3.86 percent. The last five days have seen an average of 3,885,600 shares of common stock traded. 10 times new highs were reached in the current year, with a fall of -$3.28. The average number of shares traded over the last 20 days was 2,369,375, while the average volume over the last 50 days totaled 2,152,216.
BBY stock dropped -7.37% since last month. On 08/28/23, the company’s shares reached a one-month low of $72.21. The stock touched a high of $93.32 on 02/02/23, after rallying from a low of $60.78 in 52 weeks. The price of BBY stock has declined by -4.09% or -$3.28 this year, reaching a new high 10 times. Still, the stock price is down -17.56% from the 52-week high.
Insider Transactions
BBY stock investors should be aware that Best Buy Co. Inc. (BBY) stock had its last reported insider trading activity 36 days ago on Jul 25. On Jul 25, Chairman Emeritus SCHULZE RICHARD M sold 100,000 shares at $85.24 each. This transaction resulted in the insider making $8,524,334. On Jul 05, Scarlett Kathleen sold 34,191 shares at a price of US$81.30. After the transaction, the insider now owns 65,039 shares. Chairman Emeritus SCHULZE RICHARD M had earlier sold 250,000 shares on Jun 27 for $82.90 a share. The transaction was completed for $20,725,355.
Valuation Metrics
Best Buy Co. Inc. (BBY) has a trailing price-to-earnings (P/E) ratio of 13.00. Beta for the stock is 1.56. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.37, the price-to-book (PB) ratio of 6.03, and the price-to-cash flow ratio of 8.63.
Company paid $0.92 per share in dividends, remained unchanged from $0.92 last year.
Financial Health
For the three months ended April 29, Best Buy Co. Inc.’s quick ratio was 0.30, while its current ratio was 1.00, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending April 29 is 0.41, and the total debt to equity ratio is 0.42. As far as profitability goes, gross margin for the trailing twelve months is 21.50% percent. Best Buy Co. Inc.’s EBITDA margin for the year ended April 29 was 6.15%, whereas its operating margin stood at 3.60% for the same period. Based on annual data, it had gross profit of $9.91 billion and revenue of $46.3 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BBY’s return on assets (ROA) during the last 12 months has been 8.40%. There was a 35.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 46.10%.
Earnings Surprise
According to Best Buy Co. Inc.’s quarterly financial report for the quarter that ended April 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $9.47 billion, while revenues fell by -12.46% to $20.2 billion. It was predicted that Best Buy Co. Inc.’s quarterly earnings would be $1.15, but it ended up being $1.11, beating the consensus by 3.60%. EBITDA was $548.0 million for the quarter. At the end of Best Buy Co. Inc.’s most recent quarter ended April 29, its liabilities totaled 11.89 billion, while its total debt was $3.92 billion. Equity owned by shareholders amounts to $218.21 million.
Technical Picture
Here’s a quick look at Best Buy Co. Inc.’s (BBY) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 49.42%, suggesting the stock is Neutral, with a 41.64% historical volatility rate.
The stochastic %K and %D were 27.52% and 14.16% respectively, while the average true range (ATR) was 2.22. Based on the 14-day stochastic reading of 56.39%, the RSI (14) reading is 46.20%. On the 9-day MACD Oscillator, the stock is at -1.10, and the 14-day reading is at -2.35.
Analyst Ratings
Best Buy Co. Inc. (NYSE: BBY) was downgraded by Telsey Advisory Group to a a Market perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Best Buy Co. Inc. (BBY) an Hold rating. BBY is a stock that is recommended for selling by 1 brokerage firm, while 22 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 1 rate it overweight and 4 others recommend it as a buy.
What is BBY’s price target for the next 12 months?
The current consensus forecast for the stock is between $70.00 and $110.00, with a median target price of $80.00. In analyzing these forecasts, the average price target given by analysts for Best Buy Co. Inc. (BBY) is $81.86.
