Best Buy Co. Inc. (BBY): A Case For Going Higher

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Recently, Yahoo Finance discussed the stock, revealing that Best Buy Reports Third Quarter Results.

#1 Small-Cap Uranium Stock for Ultra-Fast Gains in 2024

We've uncovered THE ONE small-cap uranium stock that has unearthed a near-surface, high-grade uranium discovery in the Saudi Arabia of Uranium — Canada's prolific Athabasca Basin. Best of all, this small-cap uranium stock is currently flying just below Wall Street's radar… giving you the early-entry opportunity around US$0.30 per share. But that won't last long. Drills are turning right now with results set to be released to the market very, very soon.

Learn all about it in this brand new FREE online report.
Sponsored

Stocks Info

This NYSE-listed company operates within the Specialty Retail industry segment, falling under the Consumer Cyclical sector. The current market capitalization of Best Buy Co. Inc. is $16.12B. A total of 1.68 million shares were traded on the day, compared to an average of 3.07M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, BBY has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 33 BUYs and 29 SELLs from insiders. Insiders purchased 280,644 shares during that period but sold 529,809.

In the most recent transaction, SCHULZE RICHARD M sold 110,974 shares of BBY for 77.00 per share on Dec 20. After the transaction, the Chairman Emeritus now owns 19,566,458 company shares. In a previous transaction on Dec 14, SCHULZE RICHARD M sold 313,728 shares at 76.97 per share. BBY shares that Chairman Emeritus owns now total 199,448.

Among the insiders who sold shares, SCHULZE RICHARD M disposed of 48,401 shares on Dec 11 at a per-share price of $75.07. This resulted in the Chairman Emeritus holding 253,370 shares of BBY after the transaction. In another insider transaction, SCHULZE RICHARD M sold 74,178 shares at $75.04 per share on Dec 07. Company shares held by the Chairman Emeritus now total 267,199.

Dividend

The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. Best Buy Co. Inc. pays an annual dividend of $3.64, resulting in a dividend yield of 4.86%, and it has a price to earnings (P/E) ratio of 12.91. BBY’s most recent ex-dividend date was 12/11/2023 when it declared a $0.92 quarterly dividend that was paid in cash on 1/2/2024. Previously, the company paid the dividend on 10/10/2023 with an ex-dividend date of 9/18/2023. The BBY stock dividend was $0.92 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for BBY in the last 3 months, the mean price target is $76.10 with high estimates of $90.00 and low estimates of $60.00. In terms of 52-week highs and lows, BBY has a high of $90.27 and a low of $62.30.

As of this writing, BBY has an earnings estimate of $BlackBerry Limited per share for the current quarter. EPS was calculated based on a consensus of Bristol-Myers Squibb Company estimates, with a high estimate of $NovaBay Pharmaceuticals, Inc. per share and a lower estimate of $Best Buy Co., Inc.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. BBY’s latest balance sheet shows that the firm has $2.94B in Cash & Short Term Investments as of fiscal 2022. There were $3.94B in debt and $10.67B in liabilities at the time. Its Book Value Per Share was $13.00, while its Total Shareholder’s Equity was $3.02B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for BBY is Buy with a score of 3.35.

Most Popular

Related Posts