Equities Analysts Offer Predictions for Best Buy Q3 Earnings

Key Points

• Zacks Research has increased its Q3 2026 EPS estimate for Best Buy from $1.30 to $1.31, while the consensus estimate for the current full-year earnings stands at $6.18 per share.
• Best Buy recently reported Q2 earnings of $1.28 per share, surpassing expectations by $0.06, and its revenue rose by 1.6% year-over-year to $9.44 billion.
• The company has announced a quarterly dividend of $0.95 per share, representing a 5.2% yield, despite having a high dividend payout ratio of 104.97%.

Best Buy Co., Inc. (NYSE:BBY - Free Report) - Equities researchers at Zacks Research raised their Q3 2026 earnings estimates for Best Buy in a report issued on Thursday, September 18th. Zacks Research analyst Team now forecasts that the technology retailer will earn $1.31 per share for the quarter, up from their previous estimate of $1.30. The consensus estimate for Best Buy's current full-year earnings is $6.18 per share. Zacks Research also issued estimates for Best Buy's Q4 2026 earnings at $2.52 EPS, FY2026 earnings at $6.26 EPS, Q1 2027 earnings at $1.23 EPS, Q2 2027 earnings at $1.42 EPS, Q3 2027 earnings at $1.41 EPS, Q4 2027 earnings at $2.68 EPS, FY2027 earnings at $6.74 EPS, Q1 2028 earnings at $1.20 EPS, Q2 2028 earnings at $1.57 EPS and FY2028 earnings at $7.36 EPS.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the firm posted $1.34 earnings per share. The business's revenue was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS.

Several other analysts have also recently weighed in on the stock. UBS Group reduced their target price on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. upped their price objective on Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Barclays reissued an "equal weight" rating and issued a $74.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Argus reaffirmed a "hold" rating on shares of Best Buy in a report on Tuesday. Finally, Guggenheim reissued a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $82.59.

Best Buy Stock Performance

NYSE BBY traded down $1.50 on Friday, hitting $72.23. 5,600,546 shares of the company's stock traded hands, compared to its average volume of 3,732,321. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm's 50-day moving average price is $71.36 and its two-hundred day moving average price is $70.04. The firm has a market capitalization of $15.18 billion, a PE ratio of 19.95, a P/E/G ratio of 1.90 and a beta of 1.19. Best Buy has a 1-year low of $54.99 and a 1-year high of $103.48.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Pinnacle Bancorp Inc. boosted its stake in shares of Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after buying an additional 178 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Best Buy during the second quarter worth $26,000. Vermillion Wealth Management Inc. acquired a new stake in Best Buy during the 4th quarter worth about $31,000. Grove Bank & Trust lifted its stake in Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock valued at $32,000 after buying an additional 173 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Best Buy in the 2nd quarter worth approximately $33,000. Institutional investors own 80.96% of the company's stock.

Insider Buying and Selling

In related news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold 201,833 shares of company stock valued at $14,941,472 over the last three months. 0.47% of the stock is owned by insiders.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.3%. Best Buy's dividend payout ratio is currently 104.97%.

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.