Best Buy Co. Inc. (NYSE:BBY) finished Friday with an addition of $0.57 to close at $69.47, an upside of 0.83 percent. An average of 1,867,760 shares of common stock have been traded in the last five days. There was a gain of $0.22 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 2,053,385 shares traded, while the 50-day average volume stands at 2,197,282.
BBY stock has decreased by -8.51% in the last month. The company shares reached their 1-month lowest point of $67.70 on 09/27/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $60.78 and a high of $93.32 in 52 weeks. It has reached a new high 10 times so far this year and lost -13.39% or -$10.74 in price. In spite of this, the price is down -25.56% 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 8 days ago on Sep 22. In this transaction, the insider spent $551,423. GC, Chief Risk Officer, Hartman Todd G., disposed of 5,000 shares at a price of $71.18 on Sep 20. The insider now owns more than $355,894 worth of shares. Prior to that, Chairman Emeritus SCHULZE RICHARD M went on to Sale 100,000 shares at $85.24 each on Jul 25. An amount of $8,524,334 was transacted.
Valuation Metrics
Best Buy Co. Inc. (BBY) has a trailing price-to-earnings (P/E) ratio of 11.94. The stock’s beta is 1.56. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.34, the price-to-book (PB) ratio at 5.34, and the price-to-cash flow ratio at 8.26.
The company has a payout ratio of 55.99%. The company’s most recent quarterly dividend payment was $0.92 a share, without any change from last year. Its latest increase dividend $0.04 reported on Thursday March 2 2023.
Financial Health
The quick ratio of Best Buy Co. Inc. for the three months ended July 30 was 0.31, and the current ratio was 0.98, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.20 and a total debt to equity ratio of 1.42 for the quarter ending July 30. Its gross profit as reported stood at $9.91 billion compared to revenue of $46.3 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Best Buy Co. Inc.’s return on assets was 8.39%.
Earnings Surprise
For the three-month period that ended July 30, Best Buy Co. Inc. had $1.15 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $274.0 million in the quarter, while revenues were shrunk -11.68%. The analyst consensus anticipated Best Buy Co. Inc.’s latest quarter earnings to come in at $1.06 per share, but it turned out to be $1.22, a 15.10% surprise. For the quarter, EBITDA amounted to $584.0 million. Shareholders own equity worth $217.64 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Best Buy Co. Inc. (BBY) price momentum. RSI 9-day as of the close on 29 September was 38.92%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.51%.
As of today, BBY’s price is $68.91 +0.32% or $0.22 from its 5-day moving average. BBY is currently trading -9.13% lower than its 20-day SMA and -4.13% lower than its 100-day SMA. However, the stock’s current price level is -16.92% below the SMA50 and -15.76% below the SMA200.
The stochastic %K and %D were 19.32% and 13.02%, respectively, and the average true range (ATR) was 1.43. With the 14-day stochastic at 28.18% and the average true range at 1.52, the RSI (14) stands at 37.32%. The stock has reached -0.69 on the 9-day MACD Oscillator while the 14-day reading was at -1.66.
Analyst Ratings
Telsey Advisory Group downgraded Best Buy Co. Inc. (NYSE: BBY) to a a Market perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform.
