Best Buy (NYSE:BBY) Issues FY 2026 Earnings Guidance

Best Buy (NYSE:BBY - Get Free Report) updated its FY 2026 earnings guidance on Thursday. The company provided earnings per share guidance of 6.150-6.300 for the period, compared to the consensus earnings per share estimate of 6.170. The company issued revenue guidance of $41.1 billion-$41.9 billion, compared to the consensus revenue estimate of $41.4 billion.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BBY. Wells Fargo & Company cut their price objective on shares of Best Buy from $75.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Friday. Wedbush cut their price objective on shares of Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday. Barclays cut their price objective on shares of Best Buy from $89.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Friday. Loop Capital cut their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday. Finally, KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Best Buy presently has an average rating of "Hold" and a consensus price target of $86.11.

Best Buy Stock Performance

Shares of BBY stock traded down $0.07 on Friday, hitting $66.25. The company's stock had a trading volume of 6,438,698 shares, compared to its average volume of 3,372,096. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock's 50 day moving average is $67.25 and its 200-day moving average is $78.93. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The company has a market capitalization of $14.02 billion, a PE ratio of 11.32, a PEG ratio of 2.10 and a beta of 1.27.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, beating the consensus estimate of $1.09 by $0.06. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period in the prior year, the company posted $1.20 earnings per share. Best Buy's revenue was down .9% compared to the same quarter last year. Equities research analysts expect that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

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

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 51,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the sale, the chief financial officer now directly owns 55,856 shares in the company, valued at $4,144,515.20. This represents a 47.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Corie S. Barry acquired 13,500 shares of Best Buy stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the purchase, the chief executive officer now directly owns 378,780 shares of the company's stock, valued at approximately $27,620,637.60. This represents a 3.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 78,355 shares of company stock worth $5,767,213. Corporate insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On Best Buy

A hedge fund recently raised its stake in Best Buy stock. Woodline Partners LP raised its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 40.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,436 shares of the technology retailer's stock after acquiring 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 institutional investors.

About Best Buy

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.