Best Buy (NYSE:BBY) Issues FY 2027 Earnings Guidance

Best Buy (NYSE:BBY) updated its FY 2027 earnings guidance on Thursday morning. The company provided earnings per share guidance of 6.700-6.900 for the period, compared to the consensus estimate of 6.590. The company issued revenue guidance of $42.3 billion-$42.8 billion, compared to the consensus revenue estimate of $42.1 billion.

Best Buy Trading Up 2.5%

BBY opened at $87.40 on Thursday. The firm’s 50 day moving average is $82.84 and its 200-day moving average is $71.17. The firm has a market capitalization of $18.42 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.44 and a beta of 1.29. Best Buy has a 52-week low of $55.10 and a 52-week high of $91.26. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Analysts expect that Best Buy will post 6.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wedbush reissued a “buy” rating on shares of Best Buy in a research note on Monday. Loop Capital cut Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a report on Monday, July 13th. The Goldman Sachs Group upped their target price on Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a research report on Friday, May 29th. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a research report on Monday, June 22nd. Finally, Bank of America assumed coverage on Best Buy in a research note on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.10.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 500,350 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $76.12, for a total value of $38,086,642.00. Following the transaction, the chairman owned 10,930,586 shares in the company, valued at $832,036,206.32. This represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 1,784 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the sale, the chief accounting officer owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. This represents a 7.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,002,134 shares of company stock worth $77,283,527 over the last three months. 0.50% of the stock is owned by insiders.

Key Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy reported second-quarter adjusted earnings of $1.47 per share, exceeding the $1.39 analyst consensus, while revenue of $9.78 billion topped expectations of $9.59 billion. Best Buy quarterly earnings report
• Positive Sentiment: Quarterly enterprise comparable sales rose 4.1%, with domestic comparable sales up 4.5%, a significant improvement from the prior year and evidence of strengthening retail performance. Best Buy Reports Second Quarter Results
• Positive Sentiment: Management raised full-year adjusted earnings guidance to $6.70-$6.90 per share, from $6.30-$6.60 previously, signaling increased confidence in profitability. Best Buy Raises Outlook as Sales Grow
• Positive Sentiment: The company also raised its full-year sales forecast, supported by steady demand for technology upgrades and replacement products. Computing was identified as a key area of strength. Best Buy raises annual sales forecast
• Neutral Sentiment: Best Buy is preparing for incoming CEO Jason Bonfig. The leadership transition adds a future execution consideration, but the current results indicate that the business turnaround is gaining traction. Best Buy tops quarterly estimates and raises outlook
• Negative Sentiment: International revenue declined year over year, and management continues to operate against a backdrop of cautious consumer spending, which could limit discretionary electronics demand.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBY. UMB Bank n.a. boosted its position in Best Buy by 6.2% during the fourth quarter. UMB Bank n.a. now owns 3,158 shares of the technology retailer’s stock worth $211,000 after purchasing an additional 185 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Best Buy by 54.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,364 shares of the technology retailer’s stock valued at $91,000 after acquiring an additional 479 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Best Buy during the third quarter worth about $214,000. Tocqueville Asset Management L.P. acquired a new position in shares of Best Buy in the 3rd quarter valued at approximately $213,000. Finally, Parallel Advisors LLC boosted its position in shares of Best Buy by 8.2% during the 3rd quarter. Parallel Advisors LLC now owns 2,677 shares of the technology retailer’s stock worth $202,000 after acquiring an additional 202 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.