DA Davidson Issues Optimistic Forecast for Best Buy Earnings

Best Buy Co., Inc. (NYSE:BBY) – Equities researchers at DA Davidson upped their FY2026 earnings per share estimates for Best Buy in a note issued to investors on Wednesday, November 26th. DA Davidson analyst M. Baker now expects that the technology retailer will post earnings per share of $6.33 for the year, up from their prior forecast of $6.23. The consensus estimate for Best Buy’s current full-year earnings is $6.18 per share. DA Davidson also issued estimates for Best Buy’s FY2027 earnings at $7.04 EPS.

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

Other equities research analysts have also recently issued research reports about the stock. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Wednesday, November 26th. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Truist Financial raised their price objective on Best Buy from $79.00 to $84.00 and gave the company a “hold” rating in a research note on Wednesday, November 26th. Jefferies Financial Group decreased their price objective on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Finally, Piper Sandler increased their target price on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $84.74.

Best Buy Stock Down 3.0%

Shares of BBY opened at $74.95 on Monday. Best Buy has a 1 year low of $54.99 and a 1 year high of $91.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The stock has a 50 day simple moving average of $78.11 and a two-hundred day simple moving average of $73.45. The firm has a market cap of $15.75 billion, a P/E ratio of 24.82, a P/E/G ratio of 1.96 and a beta of 1.37.

Institutional Trading of Best Buy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sage Private Wealth Group LLC lifted its holdings in shares of 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 worth $311,000 after acquiring an additional 123 shares during the last quarter. LVW Advisors LLC lifted its stake in Best Buy by 3.9% in the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after purchasing an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. grew 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 last quarter. Huntington National Bank grew its stake in shares of Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after buying an additional 139 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after buying an additional 144 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction on Monday, October 20th. The stock was sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman directly owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 2,018 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the sale, the chief accounting officer owned 20,132 shares of the company’s stock, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,537,011 shares of company stock worth $126,781,757. 0.59% of the stock is owned by insiders.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, December 16th. Best Buy’s dividend payout ratio is 125.83%.

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.