As of Friday close, Best Buy Co. Inc.’s (NYSE:BBY) stock was down -$1.2, moving down -1.70 percent to $69.25. The average number of shares traded per day over the past five days has been 2,089,240 shares. 3 times new highs have been achieved over the past 5 days, with a -$3.14 fall in that time frame. In the last twenty days, the average volume was 2,616,410, while in the previous 50 days, it was 2,206,178.
Since last month, BBY stock retreated -7.30%. Shares of the company fell to $69.03 on 09/22/23, the lowest level in the past month. A 52-week high of $93.32 was reached on 02/02/23 after having rallying from a 52-week low of $60.78. Since the beginning of this year, BBY’s stock price has dropped by -13.66% or -$10.96, and marked a new high 10 times. However, the stock has declined by -25.79% since its 52-week high.
BBY stock investors should be aware that Best Buy Co. Inc. (BBY) stock had its last reported insider trading activity 1 day ago on Sep 22. Hartman Todd G., the GC, Chief Risk Officer of the company, disposed of 7,948 shares for $69.38 on Sep 22. It resulted in a $551,423 divestment by the insider. Hartman Todd G. sold 5,000 shares at an average price of $71.18 on Sep 20. The insider now owns 21,285 shares following the transaction. On Jul 25, Chairman Emeritus SCHULZE RICHARD M sold 100,000 shares at $85.24 apiece. The transaction was valued at $8,524,334.
Valuation Metrics
Right now, Best Buy Co. Inc. (BBY) has a P/E ratio of about 11.91. The stock’s beta is 1.55. Besides these, the trailing price-to-sales (P/S) ratio of 0.34, the price-to-book (PB) ratio of 5.34, and the price-to-cash flow ratio of 8.36 may also be considered.
The latest dividend of $0.92 per share was paid out, remained unchanged from last year’s $0.92. On Thursday March 2 2023, a $0.04 dividend increase was announced.
Financial Health
In the three months ended July 30, Best Buy Co. Inc.’s quick ratio stood at 0.30, while its current ratio was 1.00, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending July 30 was 0.40, and the total debt-to-equity ratio was 0.41. On the profitability front, the trailing twelve-month gross margin is 21.70% percent. In the year ended July 30, EBITDA margin amounted to 6.15%, whereas operating margins totaled 3.70%. Based on annual data, BBY earned $9.91 billion in gross profit and brought in $46.3 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 35.90%. Return on equity (ROE) for the past 12 months was 45.20%.
In Best Buy Co. Inc.’s quarter-end financial report for July 30, it reported total debt of $1.15 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BBY’s revenue fell -7.78% to $9.47 billion during the quarter, while net income inched up to $9.58 billion. While analysts expected Best Buy Co. Inc. to report $1.06 quarterly earnings, the actual figure was $1.22 per share, beating the consensus estimate by 15.10%. During the quarter, the company generated $584.0 million in EBITDA. The liabilities of Best Buy Co. Inc. were 12.48 billion at the end of its most recent quarter ended July 30, and its total debt was $4.03 billion. The value of shareholders’ equity is $217.64 million.
Technical Picture
This quick technical analysis looks at Best Buy Co. Inc.’s (BBY) price momentum. With a historical volatility rate of 19.34%, the RSI 9-day stood at 27.26% on 22 September.
With respect to its five-day moving average, the current Best Buy Co. Inc. price is down by -4.34% percent or -$3.14. At present, BBY shares trade -5.31% below its 20-day simple moving average and -5.97% percent below its 100-day simple moving average. However, the stock is currently trading approximately -14.82% below its SMA50 and -17.87% below its SMA200.
Stochastic coefficient K was 6.24% and Stochastic coefficient D was 9.12%, while ATR was 1.59. Given the Stochastic reading of 3.40% for the 14-day period, the RSI (14) reading has been calculated as 30.83%. As of today, the MACD Oscillator reading stands at -1.34, while the 14-day reading stands at -1.97.
Analyst Ratings
Best Buy Co. Inc. downgraded its rating on Best Buy Co. Inc. (NYSE: BBY) to a Market perform in a note to investors on February 27, 2023. The analysts firm previously had an Outperform rating on the stock.Best Buy Co. Inc. (BBY) has been rated Hold by analysts. According to 1 brokerage firm, BBY is a sell, and 21 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Best Buy Co. Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $80.00, the current consensus forecast for the stock is $70.00 – $91.00. Based on these forecasts, analysts predict Best Buy Co. Inc. (BBY) will achieve an average price target of $81.43.
