Telsey Advisory Group Reaffirms “Hold” Rating for Best Buy (BBY)

Telsey Advisory Group restated their hold rating on shares of Best Buy (NYSE:BBY) in a research report report published on Wednesday.

BBY has been the topic of a number of other research reports. Barclays reiterated a buy rating and set a $90.00 target price on shares of Best Buy in a research note on Wednesday, August 29th. Zacks Investment Research lowered Best Buy from a buy rating to a hold rating in a research note on Wednesday, November 14th. Credit Suisse Group raised their price objective on Best Buy from $74.00 to $78.00 and gave the stock a hold rating in a research note on Wednesday, August 29th. Bank of America restated a buy rating and set a $92.00 price objective on shares of Best Buy in a research note on Tuesday, August 28th. Finally, Wells Fargo & Co restated a hold rating and set a $78.00 price objective on shares of Best Buy in a research note on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $77.06.

Shares of NYSE BBY opened at $62.55 on Wednesday. The company has a market cap of $16.98 billion, a PE ratio of 14.15, a PEG ratio of 1.03 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 1.10. Best Buy has a 1-year low of $56.17 and a 1-year high of $84.37.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.56 billion. Best Buy had a return on equity of 44.41% and a net margin of 2.52%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. Equities research analysts predict that Best Buy will post 5.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Tuesday, December 11th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 10th. This represents a $1.80 dividend on an annualized basis and a yield of 2.88%. Best Buy’s dividend payout ratio (DPR) is presently 40.72%.

In other Best Buy news, General Counsel Keith J. Nelsen sold 33,473 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $80.38, for a total value of $2,690,559.74. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Patricia H. Walker sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $77.66, for a total value of $388,300.00. Following the completion of the sale, the insider now directly owns 21,698 shares in the company, valued at approximately $1,685,066.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,711 shares of company stock worth $6,081,426. Company insiders own 0.75% of the company’s stock.

Hedge funds have recently modified their holdings of the business. LFA Lugano Financial Advisors SA acquired a new stake in shares of Best Buy in the 2nd quarter valued at $174,000. Squar Milner Financial Services LLC acquired a new stake in shares of Best Buy in the 2nd quarter valued at $201,000. People s United Financial Inc. acquired a new stake in shares of Best Buy in the 3rd quarter valued at $222,000. RFG Advisory Group LLC acquired a new stake in shares of Best Buy in the 2nd quarter valued at $210,000. Finally, Hilltop Holdings Inc. acquired a new stake in shares of Best Buy in the 3rd quarter valued at $225,000. 84.91% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Analyst Recommendations for Best Buy (NYSE:BBY)

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