Best Buy Co., Inc. (NYSE:BBY) Declares $0.96 Quarterly Dividend

Best Buy Co., Inc. (NYSE:BBY) announced a quarterly dividend on Thursday, May 28th. Investors of record on Thursday, June 18th will be paid a dividend of 0.96 per share by the technology retailer on Thursday, July 9th. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, June 18th.

Best Buy has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Best Buy has a payout ratio of 57.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Best Buy to earn $7.00 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 54.9%.

Best Buy Stock Performance

NYSE:BBY traded up $10.30 during trading on Thursday, reaching $74.84. The company’s stock had a trading volume of 14,361,121 shares, compared to its average volume of 3,624,619. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. The firm has a 50 day moving average of $61.74 and a 200-day moving average of $66.83. Best Buy has a 12 month low of $55.10 and a 12 month high of $84.99.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts expect that Best Buy will post 6.5 EPS for the current fiscal year.

More Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy beat Q1 EPS and revenue estimates, with comparable sales turning positive and margins improving. Best Buy Reports First Quarter Results
• Positive Sentiment: The company reaffirmed its outlook and issued FY2027 guidance that was close to consensus, reducing concern about a near-term slowdown. Best Buy Surges on Earnings. Its 5% Yield Looks Even Better.
• Positive Sentiment: Jefferies raised its price target on BBY to $89 and reiterated a buy rating, suggesting additional upside after the earnings rally. Best Buy price target raised by Jefferies
• Neutral Sentiment: Management highlighted demand strength in gaming and computing, partly offset by weakness in appliances, showing the recovery is uneven. Best Buy beats on top and bottom lines as retailer aims to reinvigorate sales

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.