Wedbush Has Optimistic Outlook of Best Buy FY2026 Earnings

Best Buy Co., Inc. (NYSE:BBY) – Stock analysts at Wedbush raised their FY2026 earnings per share estimates for Best Buy in a research note issued on Wednesday, November 26th. Wedbush analyst M. Mccartney now anticipates that the technology retailer will post earnings per share of $6.30 for the year, up from their previous estimate of $6.27. 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 Q4 2026 earnings at $2.47 EPS, Q2 2027 earnings at $1.44 EPS, Q3 2027 earnings at $1.52 EPS, Q4 2027 earnings at $2.73 EPS, FY2027 earnings at $6.89 EPS and FY2028 earnings at $7.55 EPS.

Several other equities research analysts also recently issued reports on the stock. Bank of America lowered their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research note on Friday, August 29th. BNP Paribas Exane reduced their price target on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Telsey Advisory Group upped their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup increased their target price on shares of Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Best Buy has a consensus rating of “Hold” and a consensus price target of $84.53.

Best Buy Stock Performance

Shares of NYSE BBY opened at $80.90 on Thursday. Best Buy has a 12 month low of $54.99 and a 12 month high of $91.72. The company has a market cap of $17.00 billion, a P/E ratio of 22.35, a P/E/G ratio of 2.21 and a beta of 1.25. The business’s 50 day moving average is $77.83 and its two-hundred day moving average is $73.37. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. The business had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS.

Hedge Funds Weigh In On Best Buy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sage Private Wealth Group LLC boosted its stake in Best Buy by 3.1% in the 3rd quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after buying an additional 123 shares in the last quarter. LVW Advisors LLC lifted its holdings in shares of Best Buy by 3.9% during the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock valued at $275,000 after acquiring an additional 137 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares during the period. Huntington National Bank boosted its stake in shares of Best Buy by 12.0% in the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after purchasing an additional 139 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in shares of Best Buy by 1.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Activity

In related news, CAO Mathew Watson sold 2,018 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the sale, the chief accounting officer owned 20,132 shares of the company’s stock, valued at $1,545,332.32. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the transaction, the chairman directly owned 11,451,911 shares of the company’s stock, valued at $965,510,616.41. This trade represents a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,733,111 shares of company stock worth $141,293,157. 0.47% of the stock is owned by company insiders.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

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.