Wedbush Has Negative Forecast for Best Buy Q2 Earnings

Best Buy Co., Inc. (NYSE:BBY) – Stock analysts at Wedbush decreased their Q2 2026 earnings per share (EPS) estimates for shares of Best Buy in a note issued to investors on Tuesday, March 4th. Wedbush analyst S. Basham now anticipates that the technology retailer will post earnings of $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.

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

BBY has been the topic of a number of other reports. Jefferies Financial Group lowered their price objective on Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group reissued a “buy” rating and set a $105.00 target price (down previously from $115.00) on shares of Best Buy in a research note on Friday, February 28th. Barclays decreased their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, DA Davidson decreased their target price on Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.50.

Best Buy Stock Up 1.3 %

BBY stock opened at $79.66 on Thursday. Best Buy has a twelve month low of $69.29 and a twelve month high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $17.03 billion, a P/E ratio of 13.62, a PEG ratio of 2.10 and a beta of 1.43. The business’s 50-day moving average price is $85.58 and its 200-day moving average price is $90.39.

Institutional Inflows and Outflows

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

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be issued a $0.95 dividend. The ex-dividend date is Tuesday, March 25th. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.77%. Best Buy’s dividend payout ratio 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.