Q3 EPS Estimates for Best Buy Cut by Telsey Advisory Group

Best Buy Co., Inc. (NYSE:BBY) – Research analysts at Telsey Advisory Group reduced their Q3 2026 EPS estimates for shares of Best Buy in a report issued on Friday, May 23rd. Telsey Advisory Group analyst J. Feldman now forecasts that the technology retailer will earn $1.33 per share for the quarter, down from their prior estimate of $1.36. Telsey Advisory Group has a “Outperform” rating and a $90.00 price target 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.

BBY has been the subject of a number of other research reports. UBS Group set a $105.00 price target on Best Buy in a report on Wednesday, March 5th. Wedbush restated a “neutral” rating and set a $75.00 price objective on shares of Best Buy in a research note on Friday. Bank of America reduced their price objective on Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company cut their target price on Best Buy from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, May 19th. Finally, Morgan Stanley cut their target price 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $89.33.

Best Buy Stock Down 1.1%

NYSE BBY opened at $70.01 on Monday. The stock has a market cap of $14.82 billion, a PE ratio of 11.97, a P/E/G ratio of 2.10 and a beta of 1.27. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The business has a 50 day moving average price of $67.74 and a two-hundred day moving average price of $79.49. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter in the prior year, the company earned $2.72 EPS.

Institutional Investors Weigh In On Best Buy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its holdings in 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 purchasing an additional 178 shares during the last quarter. Rakuten Securities Inc. increased its position in Best Buy by 971.9% in the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after buying an additional 311 shares during the period. Vermillion Wealth Management Inc. bought a new position in Best Buy in the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new stake in shares of Best Buy during the fourth quarter valued at approximately $32,000. Finally, Atlas Capital Advisors Inc. increased 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 during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Best Buy

In other news, CEO Corie S. Barry purchased 13,500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $72.92 per share, with a total value of $984,420.00. Following the purchase, the chief executive officer now directly owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This trade represents a 3.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew M. Bilunas sold 51,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 55,856 shares of the company’s stock, valued at $4,144,515.20. This trade represents a 47.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,355 shares of company stock worth $5,767,213 in the last quarter. 0.47% of the stock is owned by company insiders.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were given a $0.95 dividend. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.43%. Best Buy’s dividend payout ratio (DPR) is 88.99%.

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.