Wedbush Has Negative Estimate for Best Buy Q2 Earnings

Best Buy Co., Inc. (NYSE:BBY) – Research analysts at Wedbush reduced their Q2 2026 earnings per share estimates for Best Buy in a report released on Tuesday, March 4th. Wedbush analyst S. Basham now expects that the technology retailer will post earnings of $1.22 per share for the quarter, down from their previous forecast of $1.28. Wedbush has a “Neutral” 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. Wedbush also issued estimates for Best Buy’s Q3 2026 earnings at $1.20 EPS and Q4 2026 earnings at $2.43 EPS.

Several other analysts have also recently commented on BBY. Bank of America decreased their price target on shares of Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Wednesday. Citigroup reduced their price target on shares of Best Buy from $105.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday. KeyCorp reissued a “sector weight” rating on shares of Best Buy in a research report on Wednesday. Piper Sandler cut their price objective on Best Buy from $102.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, DA Davidson dropped their price target on Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Best Buy Stock Performance

Best Buy stock opened at $75.36 on Thursday. The firm has a market capitalization of $16.11 billion, a P/E ratio of 12.88, a P/E/G ratio of 2.10 and a beta of 1.43. Best Buy has a 52-week low of $69.29 and a 52-week high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock has a fifty day moving average price of $85.97 and a two-hundred day moving average price of $90.51.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The company 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 period last year, the firm earned $2.72 EPS.

Institutional Investors Weigh In On Best Buy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBY. Rakuten Securities Inc. boosted its holdings in shares of Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock valued at $29,000 after buying an additional 311 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in Best Buy during the 4th quarter valued at about $31,000. Golden State Wealth Management LLC bought a new stake in Best Buy during the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. grew its holdings in Best Buy by 186.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 243 shares during the period. Finally, Ancora Advisors LLC increased its stake in shares of Best Buy by 18,700.0% during the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock valued at $32,000 after purchasing an additional 374 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.59% of the company’s stock.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 annualized dividend and a yield of 5.04%. This is a boost from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio is presently 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.