Wedbush Analysts Reduce Earnings Estimates for Best Buy

Best Buy Co., Inc. (NYSE:BBY - Free Report) - Wedbush decreased their Q2 2026 earnings estimates for shares of Best Buy in a report issued on Friday, May 23rd. Wedbush analyst S. Basham now forecasts that the technology retailer will earn $1.15 per share for the quarter, down from their prior estimate of $1.22. Wedbush currently has a "Neutral" rating and a $75.00 price objective on the stock. The consensus estimate for Best Buy's current full-year earnings is $6.18 per share. Wedbush also issued estimates for Best Buy's Q3 2026 earnings at $1.00 EPS.

A number of other research firms also recently commented on BBY. DA Davidson reaffirmed a "buy" rating and issued a $110.00 target price on shares of Best Buy in a research report on Monday, April 14th. Wells Fargo & Company dropped their price objective on Best Buy from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Piper Sandler dropped their price objective on Best Buy from $102.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Telsey Advisory Group dropped their price target on Best Buy from $100.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, UBS Group set a $105.00 target price on shares of Best Buy in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $89.33.

Best Buy Stock Up 3.4%

Best Buy stock traded up $2.35 during mid-day trading on Monday, hitting $72.27. The company had a trading volume of 3,596,284 shares, compared to its average volume of 3,371,264. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 2.10 and a beta of 1.27. Best Buy has a 1 year low of $54.99 and a 1 year 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 business has a fifty day moving average of $67.67 and a 200 day moving average of $79.35.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the prior year, the business posted $2.72 EPS.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were paid a $0.95 dividend. The ex-dividend date was Tuesday, March 25th. This is an increase from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.26%. Best Buy's payout ratio is 88.99%.

Insider Activity at Best Buy

In other news, CFO Matthew M. Bilunas sold 51,000 shares of the business'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 transaction of $3,784,200.00. Following the sale, the chief financial officer now owns 55,856 shares of the company's stock, valued at $4,144,515.20. The trade was a 47.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd G. Hartman sold 4,893 shares of the business'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 $355,476.45. Following the sale, the insider now directly owns 32,320 shares in the company, valued at $2,348,048. This trade represents a 13.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,355 shares of company stock worth $5,767,213 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Best Buy

Institutional investors have recently bought and sold shares of the company. Stevens Capital Management LP boosted its position in shares of Best Buy by 228.7% in the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer's stock worth $1,941,000 after buying an additional 15,741 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Best Buy by 20.5% in the fourth quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after purchasing an additional 629,180 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Best Buy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock valued at $1,971,908,000 after purchasing an additional 191,161 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new stake in shares of Best Buy in the fourth quarter valued at about $3,293,000. Finally, APG Asset Management N.V. purchased a new stake in shares of Best Buy in the fourth quarter valued at about $9,073,000. 80.96% of the stock is currently 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.