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

Best Buy Co., Inc. (NYSE:BBY) declared a quarterly dividend on Thursday, August 27th. Shareholders of record on Thursday, September 17th will be given a dividend of 0.96 per share by the technology retailer on Thursday, October 8th. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Thursday, September 17th.

Best Buy has increased its dividend 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 dividend payout ratio of 57.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Best Buy to earn $7.10 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 54.1%.

Best Buy Price Performance

Shares of NYSE:BBY opened at $83.77 on Friday. The company has a 50-day simple moving average of $83.01 and a 200-day simple moving average of $71.26. Best Buy has a one year low of $55.10 and a one year high of $91.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 2.50 and a beta of 1.29.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, analysts predict that Best Buy will post 6.6 EPS for the current year.

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.