Evercore ISI Cuts Best Buy (NYSE:BBY) Price Target to $70.00

Best Buy (NYSE:BBY) had its price target reduced by Evercore ISI from $80.00 to $70.00 in a report released on Tuesday, Marketbeat reports. They currently have an in-line rating on the technology retailer’s stock.

Other research analysts also recently issued reports about the stock. Piper Sandler increased their price target on shares of Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. UBS Group upped their price objective on Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Jefferies Financial Group cut their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. BNP Paribas Exane reduced their price target on Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. Finally, Telsey Advisory Group lifted their price objective on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Best Buy currently has an average rating of “Hold” and an average target price of $81.63.

Best Buy Stock Down 0.5%

BBY stock opened at $68.13 on Tuesday. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.63 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The business’s 50-day moving average is $69.85 and its two-hundred day moving average is $73.18. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $91.68.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The firm had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, analysts forecast that Best Buy will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Tuesday, December 16th. Best Buy’s payout ratio is currently 125.83%.

Hedge Funds Weigh In On Best Buy

Several institutional investors have recently added to or reduced their stakes in the company. Palisade Asset Management LLC purchased a new position in shares of Best Buy in the third quarter valued at $25,000. Harbor Capital Advisors Inc. raised its stake in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Torren Management LLC bought a new position in Best Buy during the fourth quarter valued at $25,000. Root Financial Partners LLC purchased a new position in shares of Best Buy in the 3rd quarter worth $32,000. Finally, Quest 10 Wealth Builders Inc. increased its holdings in shares of Best Buy by 239.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after buying an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

About Best Buy

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.