Wedbush Has Negative Forecast for Best Buy Q2 Earnings

Best Buy Co., Inc. (NYSE:BBY) – Stock analysts at Wedbush lowered their Q2 2026 earnings per share estimates for Best Buy in a research note issued to investors on Tuesday, March 4th. Wedbush analyst S. Basham now expects that the technology retailer will earn $1.22 per share for the quarter, down from their prior forecast of $1.28. Wedbush currently has a “Neutral” rating and a $90.00 target price 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.

Other equities analysts also recently issued research reports about the company. Barclays lowered their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Evercore ISI lowered their price target on Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a research report on Wednesday. Bank of America lowered their price target on Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research report on Wednesday. Jefferies Financial Group reduced their target price on Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company reduced their target price on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.50.

Best Buy Stock Performance

Shares of BBY stock opened at $79.66 on Thursday. The company has a market capitalization of $17.03 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.10 and a beta of 1.43. The business’s 50 day moving average is $85.58 and its two-hundred day moving average is $90.39. 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 has a 12-month low of $69.29 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter in the prior year, the business posted $2.72 earnings per share.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Tuesday, March 25th. This is a boost from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Best Buy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its stake in Best Buy by 971.9% during the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after acquiring an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Best Buy during the fourth quarter worth $31,000. Golden State Wealth Management LLC acquired a new stake in Best Buy during the fourth quarter worth $32,000. Atlas Capital Advisors Inc. increased its stake in Best Buy by 186.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 243 shares during the last quarter. Finally, Ancora Advisors LLC increased its stake in Best Buy by 18,700.0% during the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 374 shares during the last quarter. 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.