Today, Jefferies Group Reaffirmed “Buy” Rating for Best Buy Co. (BBY)

Today, Jefferies Group Reaffirmed “Buy” Rating for Best Buy Co. (BBY)

Jefferies Group reaffirmed their buy rating on shares of Best Buy Co. (NYSE:BBY) in a research note published on Tuesday morning. Jefferies Group currently has a $0.15 target price on the technology retailer’s stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley set a $43.00 target price on shares of Best Buy and gave the stock a hold rating in a research report on Saturday, November 19th. Vetr raised shares of Best Buy from a sell rating to a hold rating and set a $34.32 target price for the company in a research report on Tuesday, August 16th. Raymond James Financial Inc. boosted their target price on shares of Best Buy from $38.00 to $45.00 and gave the stock a buy rating in a research report on Wednesday, August 24th. Zacks Investment Research raised shares of Best Buy from a sell rating to a hold rating and set a $44.00 target price for the company in a research report on Monday, November 7th. Finally, Royal Bank Of Canada boosted their target price on shares of Best Buy from $42.00 to $47.00 and gave the stock a sector perform rating in a research report on Friday, November 18th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. Best Buy presently has a consensus rating of Hold and an average price target of $37.67.

Shares of Best Buy (NYSE:BBY) opened at 46.96 on Tuesday. The firm’s 50-day moving average is $40.01 and its 200 day moving average is $35.31. The firm has a market capitalization of $14.85 billion, a P/E ratio of 14.02 and a beta of 1.51. Best Buy has a 12 month low of $25.31 and a 12 month high of $47.29.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, November 17th. The technology retailer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.15. Best Buy had a net margin of 2.78% and a return on equity of 24.18%. The firm had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Best Buy will post $3.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, December 6th. Best Buy’s dividend payout ratio is currently 33.73%.

Several institutional investors have recently added to or reduced their stakes in BBY. Itau Unibanco Holding S.A. acquired a new position in Best Buy during the third quarter valued at approximately $109,000. Mizuho Asset Management Co. Ltd. raised its position in Best Buy by 100.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,725 shares of the technology retailer’s stock valued at $114,000 after buying an additional 1,866 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Best Buy by 24.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,124 shares of the technology retailer’s stock valued at $119,000 after buying an additional 608 shares in the last quarter. Pacer Advisors Inc. raised its position in Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock valued at $124,000 after buying an additional 253 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in Best Buy by 128.9% in the second quarter. Global X Management Co. LLC now owns 5,379 shares of the technology retailer’s stock valued at $165,000 after buying an additional 3,029 shares in the last quarter. 86.47% of the stock is currently owned by institutional investors.

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