Zacks Research Analysts Cut Earnings Estimates for Best Buy

Best Buy Co., Inc. (NYSE:BBY) – Equities researchers at Zacks Research lowered their Q2 2027 earnings per share (EPS) estimates for shares of Best Buy in a research note issued on Tuesday, December 16th. Zacks Research analyst Team now anticipates that the technology retailer will post earnings per share of $1.41 for the quarter, down from their previous forecast of $1.42. 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 2027 earnings at $1.48 EPS, Q4 2027 earnings at $2.69 EPS, FY2027 earnings at $6.82 EPS, Q1 2028 earnings at $1.33 EPS and Q2 2028 earnings at $1.53 EPS.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. Best Buy’s revenue was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS.

A number of other research firms also recently commented on BBY. Jefferies Financial Group decreased their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Truist Financial set a $77.00 price target on shares of Best Buy in a research report on Wednesday. Daiwa Capital Markets boosted their price target on Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Best Buy from $97.00 to $99.00 in a report on Tuesday, November 25th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Best Buy has a consensus rating of “Hold” and an average price target of $84.11.

Best Buy Stock Performance

NYSE:BBY opened at $71.40 on Thursday. The firm’s fifty day simple moving average is $77.58 and its 200-day simple moving average is $73.69. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a market cap of $14.96 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 1.84 and a beta of 1.37. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $91.68.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Tuesday, December 16th. Best Buy’s payout ratio is currently 125.83%.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction on 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 sale, the chairman owned 11,451,911 shares in the company, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 1,534,993 shares of company stock valued at $126,626,855. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Best Buy

A number of large investors have recently made changes to their positions in the stock. Palisade Asset Management LLC purchased a new position in Best Buy in the 3rd quarter valued at about $25,000. Harbor Capital Advisors Inc. lifted its stake 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 buying an additional 138 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in Best Buy during the second quarter worth approximately $26,000. Root Financial Partners LLC acquired a new stake in Best Buy during the third quarter worth approximately $32,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Best Buy during the second quarter worth approximately $33,000. Institutional investors and hedge funds 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.