Best Buy (NYSE:BBY) Updates FY 2026 Earnings Guidance

Best Buy (NYSE:BBY) updated its FY 2026 earnings guidance on Thursday. The company provided EPS guidance of 6.150-6.300 for the period, compared to the consensus EPS estimate of 6.170. The company issued revenue guidance of $41.1 billion-$41.9 billion, compared to the consensus revenue estimate of $41.4 billion.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of research reports. Wedbush upgraded Best Buy to a “hold” rating and set a $75.00 price target on the stock in a research note on Friday, May 23rd. Piper Sandler lowered their target price on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group reduced their price target 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 reiterated a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Finally, DA Davidson restated a “buy” rating and issued a $110.00 price objective on shares of Best Buy in a research note on Monday, April 14th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.33.

Best Buy Stock Down 7.0%

BBY opened at $66.48 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy has a 12 month low of $54.99 and a 12 month high of $103.71. The stock has a market capitalization of $14.07 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.10 and a beta of 1.27. The business has a 50 day simple moving average of $67.42 and a 200-day simple moving average of $79.09.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.06. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.77 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. On average, equities analysts anticipate that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were given a dividend of $0.95 per share. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend was Tuesday, March 25th. Best Buy’s dividend payout ratio is presently 88.99%.

Insider Activity

In other news, insider Todd G. Hartman sold 4,893 shares of Best Buy stock in a transaction on Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the transaction, the insider now owns 32,320 shares of the company’s stock, valued at $2,348,048. The trade was a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Matthew M. Bilunas sold 9,482 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 $688,867.30. Following the completion of the sale, the chief financial officer now owns 106,856 shares in the company, valued at $7,763,088.40. This represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,355 shares of company stock worth $5,767,213. Company insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Best Buy stock. Woodline Partners LP grew its stake in Best Buy Co., Inc. (NYSE:BBY) by 40.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,436 shares of the technology retailer’s stock after acquiring an additional 4,701 shares during the quarter. Woodline Partners LP’s holdings in Best Buy were worth $1,210,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

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.