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

Key Points

• Best Buy has updated its FY 2026 earnings guidance, projecting earnings per share between $6.150 and $6.300, and revenue between $41.1 billion and $41.9 billion, slightly above consensus estimates.
• Analyst ratings show a mix of opinions: eight analysts rated the stock as a "Buy," eleven as "Hold," and one as "Sell," with a consensus price target of $84.50.
• The company recently declared a quarterly dividend of $0.95 per share, reflecting a 5.0% yield, while its payout ratio stands at 92.91%.

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 6.200. The company issued revenue guidance of $41.1 billion-$41.9 billion, compared to the consensus revenue estimate of $41.4 billion.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America reduced their price objective on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a research report on Friday. Wedbush lifted their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday. Citigroup reissued a "buy" rating on shares of Best Buy in a research report on Thursday. Piper Sandler reissued a "neutral" rating and issued a $75.00 price target (down previously from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Finally, Guggenheim reissued a "buy" rating and issued a $90.00 price target on shares of Best Buy in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $84.44.

Best Buy Stock Up 1.3%

BBY traded up $0.93 during mid-day trading on Monday, reaching $73.59. 4,436,142 shares of the stock were exchanged, compared to its average volume of 3,606,198. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The stock has a market capitalization of $15.55 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.95 and a beta of 1.19. The company has a 50 day moving average price of $69.82 and a two-hundred day moving average price of $71.23. Best Buy has a 1 year low of $54.99 and a 1 year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, research analysts anticipate that Best Buy will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's payout ratio is 104.97%.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the transaction, the chairman directly owned 196,100 shares of the company's stock, valued at approximately $14,305,495. The trade was a 78.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On Best Buy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CYBER HORNET ETFs LLC purchased a new position in shares of Best Buy in the 2nd quarter worth about $33,000. MUFG Securities EMEA plc purchased a new stake in Best Buy during the second quarter valued at about $38,000. Rakuten Securities Inc. lifted its holdings in Best Buy by 178.3% during the second quarter. Rakuten Securities Inc. now owns 960 shares of the technology retailer's stock valued at $64,000 after purchasing an additional 615 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Best Buy by 30.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,466 shares of the technology retailer's stock valued at $98,000 after purchasing an additional 338 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in Best Buy during the second quarter valued at about $244,000. 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.