Best Buy Co., Inc. (NYSE:BBY) announced a quarterly dividend on Friday, November 17th, RTT News reports. Shareholders of record on Thursday, December 7th will be paid a dividend of 0.34 per share by the technology retailer on Thursday, December 28th. This represents a $1.36 annualized dividend and a dividend yield of 2.46%.
Best Buy Co. has increased its dividend by an average of 18.1% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Best Buy Co. has a payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Best Buy Co. to earn $4.28 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 31.8%.
Shares of Best Buy Co. (NYSE BBY) opened at $55.25 on Friday. The company has a market cap of $17,140.29, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42. Best Buy Co. has a 1 year low of $41.67 and a 1 year high of $63.32. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30.
Best Buy Co. (NYSE:BBY) last issued its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. equities research analysts forecast that Best Buy Co. will post 4.06 earnings per share for the current fiscal year.
In other news, insider Kathleen Scarlett sold 10,797 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total transaction of $566,734.53. Following the transaction, the insider now directly owns 25,690 shares of the company’s stock, valued at $1,348,468.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shari L. Ballard sold 2,246 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $134,580.32. The disclosure for this sale can be found here. Insiders have sold 166,259 shares of company stock worth $9,182,693 over the last ninety days. Insiders own 1.21% of the company’s stock.
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A number of analysts recently commented on BBY shares. Loop Capital restated a “buy” rating and issued a $72.00 price objective on shares of Best Buy Co. in a research report on Saturday, July 22nd. SunTrust Banks, Inc. set a $70.00 price objective on shares of Best Buy Co. and gave the company a “buy” rating in a research report on Saturday, July 22nd. BidaskClub upgraded shares of Best Buy Co. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price objective on shares of Best Buy Co. in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $60.00 price objective on shares of Best Buy Co. in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $58.86.
About Best Buy Co.
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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