Media coverage about Best Buy (NYSE:BBY) has trended somewhat positive recently, Accern reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Best Buy earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned news articles about the technology retailer an impact score of 46.337983074786 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the news articles that may have impacted Accern’s analysis:
- Best Buy Co., Inc. (BBY) set to clock stellar 14.38% in next 5Y – Times Money (thetimesmoney.org)
- Coming Out Of Shadows? Cabot Oil & Gas Corporation (COG), Best Buy Co., Inc. (BBY) – Market Movers (financialqz.com)
- Dick's Sporting Goods could be a 'survivor' like Best Buy… (finance.yahoo.com)
- Short Interest in Best Buy Co Inc (BBY) Drops By 12.5% (americanbankingnews.com)
- Today’s Hot Mover – Best Buy Co., Inc. (NYSE: BBY) – Alpha Beta Stock (alphabetastock.com)
Several equities analysts have issued reports on the company. Wedbush set a $32.00 price objective on Best Buy and gave the company a “sell” rating in a research report on Wednesday, November 29th. KeyCorp reiterated a “hold” rating on shares of Best Buy in a research report on Friday, November 10th. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, October 10th. Deutsche Bank set a $56.00 price objective on Best Buy and gave the company a “hold” rating in a research report on Friday, November 17th. Finally, Jefferies Group reiterated a “buy” rating and issued a $60.00 price objective on shares of Best Buy in a research report on Wednesday, September 20th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.81.
Best Buy (NYSE:BBY) last released its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. equities research analysts forecast that Best Buy will post 4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th were paid a $0.34 dividend. The ex-dividend date was Wednesday, December 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.99%. Best Buy’s dividend payout ratio (DPR) is currently 34.43%.
In other news, major shareholder Richard M. Schulze sold 250,000 shares of Best Buy stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.83, for a total value of $16,707,500.00. Following the completion of the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at approximately $115,782,975. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Keith J. Nelsen sold 44,235 shares of Best Buy stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $56.78, for a total value of $2,511,663.30. Following the completion of the sale, the general counsel now directly owns 107,503 shares of the company’s stock, valued at $6,104,020.34. The disclosure for this sale can be found here. Insiders sold a total of 3,134,253 shares of company stock valued at $191,063,125 over the last three months. Insiders own 0.84% of the company’s stock.
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About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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