Zacks Research Forecasts Best Buy's Q2 Earnings (NYSE:BBY)

Best Buy Co., Inc. (NYSE:BBY - Free Report) - Stock analysts at Zacks Research decreased their Q2 2026 earnings per share estimates for shares of Best Buy in a note issued to investors on Thursday, June 19th. Zacks Research analyst R. Department now expects that the technology retailer will post earnings per share of $1.20 for the quarter, down from their prior estimate of $1.33. 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 Q3 2026 earnings at $1.30 EPS, Q4 2026 earnings at $2.58 EPS, FY2026 earnings at $6.23 EPS, Q2 2027 earnings at $1.30 EPS, Q3 2027 earnings at $1.45 EPS, Q4 2027 earnings at $2.81 EPS, FY2027 earnings at $6.76 EPS, Q1 2028 earnings at $1.34 EPS and FY2028 earnings at $7.26 EPS.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.06. The company had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.77 billion. Best Buy had a return on equity of 46.40% and a net margin of 2.13%. Best Buy's revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS.

BBY has been the topic of a number of other reports. Truist Financial raised their price objective on Best Buy from $64.00 to $69.00 and gave the company a "hold" rating in a report on Friday, May 30th. Morgan Stanley decreased their price target on Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. DA Davidson reaffirmed a "buy" rating and issued a $110.00 price target on shares of Best Buy in a research note on Monday, April 14th. BNP Paribas raised Best Buy to a "hold" rating in a research note on Friday, May 30th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $70.00 price target (down from $93.00) on shares of Best Buy in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Best Buy currently has an average rating of "Hold" and an average price target of $86.11.

Best Buy Stock Performance

Shares of NYSE BBY opened at $67.58 on Monday. The stock has a market cap of $14.28 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.78 and a beta of 1.25. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Best Buy has a 1-year low of $54.99 and a 1-year high of $103.71. The stock's 50-day moving average is $68.62 and its 200 day moving average is $76.78.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be given a $0.95 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.62%. Best Buy's dividend payout ratio is currently 92.91%.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of Best Buy stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the sale, the chairman now directly owns 196,100 shares in the company, valued at $14,305,495. The trade was a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.59% of the company's stock.

Institutional Investors Weigh In On Best Buy

Hedge funds have recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its position in shares of Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Rakuten Securities Inc. boosted its position in shares of Best Buy by 971.9% during 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 in the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of Best Buy during the fourth quarter valued at approximately $31,000. Atlas Capital Advisors Inc. boosted its position in shares of Best Buy by 186.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in Best Buy by 18,700.0% during the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock valued at $32,000 after buying an additional 374 shares during the last quarter. 80.96% of the stock is currently owned by 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.

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