Best Buy (NYSE:BBY) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Best Buy (NYSE:BBY - Get Free Report) posted its earnings results on Thursday. The technology retailer reported $1.15 EPS for the quarter, topping the consensus estimate of $1.09 by $0.06, RTT News reports. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. During the same period last year, the company earned $1.20 earnings per share. Best Buy's revenue for the quarter was down .9% compared to the same quarter last year. Best Buy updated its FY 2026 guidance to 6.150-6.300 EPS.

Best Buy Trading Down 0.1%

NYSE BBY traded down $0.07 on Friday, reaching $66.25. 6,438,698 shares of the company were exchanged, compared to its average volume of 3,372,096. The business's fifty day moving average price is $67.25 and its 200 day moving average price is $78.93. The stock has a market capitalization of $14.02 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $103.71.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend is Wednesday, June 18th. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

Wall Street Analyst Weigh In

BBY has been the topic of several research analyst reports. Guggenheim reissued a "buy" rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday. Citigroup reissued a "neutral" rating and issued a $70.00 price objective (down from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. Truist Financial raised their price objective on Best Buy from $64.00 to $69.00 and gave the company a "hold" rating in a report on Friday. Morgan Stanley dropped their price objective on Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Finally, Piper Sandler dropped their price objective on Best Buy from $92.00 to $82.00 and set an "overweight" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy has a consensus rating of "Hold" and an average price target of $86.11.

Insiders Place Their Bets

In other Best Buy news, EVP Kathleen Scarlett sold 6,847 shares of Best Buy stock in a transaction on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $497,434.55. Following the sale, the executive vice president now owns 87,389 shares in the company, valued at $6,348,810.85. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd G. Hartman sold 4,893 shares of Best Buy stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $355,476.45. Following the completion of the sale, the insider now owns 32,320 shares in the company, valued at $2,348,048. This represents a 13.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,355 shares of company stock valued at $5,767,213. Insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On Best Buy

An institutional investor recently raised its position in Best Buy stock. Woodline Partners LP raised its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 40.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,436 shares of the technology retailer's stock after purchasing an additional 4,701 shares during the quarter. Woodline Partners LP's holdings in Best Buy were worth $1,210,000 as of its most recent SEC filing. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.