Wedbush Brokers Decrease Earnings Estimates for Best Buy

Best Buy Co., Inc. (NYSE:BBY) – Analysts at Wedbush lowered their Q2 2026 EPS estimates for shares of Best Buy in a report released on Friday, May 23rd. Wedbush analyst S. Basham now expects that the technology retailer will earn $1.15 per share for the quarter, down from their previous estimate of $1.22. Wedbush currently has a “Neutral” rating and a $75.00 target price 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.

BBY has been the subject of a number of other research reports. Citigroup reaffirmed a “neutral” rating and issued a $70.00 price target (down previously from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. UBS Group set a $105.00 price target on shares of Best Buy in a report on Wednesday, March 5th. Jefferies Financial Group decreased their target price on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. KeyCorp restated a “sector weight” rating on shares of Best Buy in a research report on Wednesday, March 5th. Finally, Loop Capital restated a “negative” rating on shares of Best Buy in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Best Buy has an average rating of “Hold” and an average price target of $89.33.

Best Buy Trading Down 1.1%

NYSE:BBY opened at $70.01 on Monday. Best Buy has a 52 week low of $54.99 and a 52 week high of $103.71. The firm has a 50 day moving average of $67.74 and a 200 day moving average 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. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.10 and a beta of 1.27.

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

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were issued a $0.95 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, March 25th. This represents a $3.80 annualized dividend and a dividend yield of 5.43%. Best Buy’s payout ratio is presently 88.99%.

Insider Activity

In related news, CEO Corie S. Barry acquired 13,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. This represents a 3.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mathew Watson sold 2,951 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $214,390.15. Following the sale, the chief accounting officer now directly owns 21,371 shares in the company, valued at approximately $1,552,603.15. This represents a 12.13% 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 valued at $5,767,213 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Best Buy

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in Best Buy during the fourth quarter worth about $514,483,000. Norges Bank acquired a new position in shares of Best Buy in the fourth quarter valued at approximately $178,015,000. Pacer Advisors Inc. raised its position in shares of Best Buy by 3,890.0% in the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock valued at $75,353,000 after buying an additional 998,021 shares during the last quarter. Northern Trust Corp raised its position in shares of Best Buy by 31.3% in the fourth quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer’s stock valued at $252,495,000 after buying an additional 701,287 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Best Buy by 36.5% in the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock valued at $181,357,000 after buying an additional 671,408 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

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.