Best Buy Q3 EPS Estimate Decreased by Telsey Advisory Group

Best Buy Co., Inc. (NYSE:BBY - Free Report) - Research analysts at Telsey Advisory Group cut their Q3 2026 earnings estimates for shares of Best Buy in a note issued to investors on Friday, May 23rd. Telsey Advisory Group analyst J. Feldman now anticipates that the technology retailer will earn $1.33 per share for the quarter, down from their prior estimate of $1.36. Telsey Advisory Group currently has a "Outperform" rating and a $90.00 target price on the stock. The consensus estimate for Best Buy's current full-year earnings is $6.18 per share. Telsey Advisory Group also issued estimates for Best Buy's FY2026 earnings at $6.30 EPS, Q1 2027 earnings at $1.17 EPS, Q2 2027 earnings at $1.46 EPS, Q3 2027 earnings at $1.44 EPS, Q4 2027 earnings at $2.79 EPS and FY2027 earnings at $6.84 EPS.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.06. 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 during the quarter, compared to the consensus estimate of $8.77 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm's revenue for the quarter was down .9% compared to the same quarter last year.

BBY has been the subject of a number of other research reports. DA Davidson reiterated a "buy" rating and set a $110.00 price objective on shares of Best Buy in a research report on Monday, April 14th. Wedbush cut their price objective on Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday. UBS Group dropped their target price on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday. Piper Sandler reduced their price target on shares of Best Buy from $102.00 to $92.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Finally, Citigroup reiterated a "neutral" rating and set a $70.00 price objective (down from $93.00) on shares of Best Buy in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Best Buy has a consensus rating of "Hold" and an average target price of $87.78.

Best Buy Price Performance

Best Buy stock traded up $0.35 during midday trading on Monday, hitting $66.67. The company's stock had a trading volume of 793,656 shares, compared to its average volume of 3,392,549. Best Buy has a 12 month low of $54.99 and a 12 month high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock's 50-day moving average price is $67.42 and its 200-day moving average price is $79.09. The company has a market capitalization of $14.11 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27.

Hedge Funds Weigh In On Best Buy

A number of institutional investors have recently modified their holdings of the company. Pinnacle Bancorp Inc. grew its stake in Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after buying an additional 178 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after purchasing an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Best Buy in the fourth quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new position in shares of Best Buy during the 4th quarter worth about $32,000. Finally, Atlas Capital Advisors Inc. lifted its position in shares of Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock worth $32,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 51,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $74.20, for a total value of $3,784,200.00. Following the transaction, the chief financial officer now directly owns 55,856 shares of the company's stock, valued at approximately $4,144,515.20. This trade represents a 47.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mathew Watson sold 2,951 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $214,390.15. Following the sale, the chief accounting officer now directly owns 21,371 shares of the company's stock, valued at $1,552,603.15. The trade was a 12.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,355 shares of company stock worth $5,767,213. Corporate insiders own 0.47% of the company's stock.

Best Buy Dividend Announcement

The firm also recently disclosed 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. This represents a $3.80 annualized dividend and a dividend yield of 5.70%. Best Buy's payout ratio is presently 88.99%.

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.