Wedbush Issues Negative Outlook for Best Buy Earnings

Best Buy Co., Inc. (NYSE:BBY) – Stock analysts at Wedbush decreased their Q2 2026 earnings estimates for Best Buy in a research report issued to clients and investors on Friday, May 23rd. Wedbush analyst S. Basham now forecasts that the technology retailer will post earnings of $1.15 per share for the quarter, down from their previous estimate of $1.22. Wedbush has a “Neutral” rating and a $75.00 price objective 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.

Other research analysts also recently issued reports about the company. Citigroup reaffirmed a “neutral” rating and set a $70.00 price target (down from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. Bank of America lowered their target price 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, March 5th. Telsey Advisory Group dropped their price target on shares of Best Buy from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. KeyCorp reissued a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 5th. Finally, DA Davidson restated a “buy” rating and set a $110.00 price objective on shares of Best Buy in a research report on Monday, April 14th. Two 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 issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.33.

Best Buy Stock Performance

Shares of BBY opened at $72.27 on Monday. The company has a market cap of $15.30 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 2.10 and a beta of 1.27. The business’s fifty day simple moving average is $67.64 and its two-hundred day simple moving average is $79.30. Best Buy has a 12 month low of $54.99 and a 12 month high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter last year, the firm earned $2.72 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. IFP Advisors Inc lifted its position in shares of Best Buy by 5.2% in the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock valued at $218,000 after acquiring an additional 125 shares in the last quarter. Mariner LLC raised its stake in Best Buy by 0.3% during the 4th quarter. Mariner LLC now owns 43,215 shares of the technology retailer’s stock valued at $3,708,000 after purchasing an additional 129 shares during the period. LRI Investments LLC raised its stake in Best Buy by 36.3% during the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer’s stock valued at $45,000 after purchasing an additional 141 shares during the period. Rothschild Investment LLC lifted its holdings in Best Buy by 19.7% in the 4th quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after purchasing an additional 142 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in Best Buy by 5.0% in the 4th quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock worth $258,000 after purchasing an additional 142 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 51,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the sale, the chief financial officer now owns 55,856 shares in the company, valued at approximately $4,144,515.20. This trade represents a 47.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 3,182 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78. Following the completion of the transaction, the chief accounting officer now owns 19,218 shares of the company’s stock, valued at approximately $1,370,051.22. The trade was a 14.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,355 shares of company stock worth $5,767,213. Corporate insiders own 0.47% of the company’s stock.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were issued a $0.95 dividend. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date was Tuesday, March 25th. Best Buy’s dividend payout ratio (DPR) is currently 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.