Best Buy Co., Inc. Expected to Post Q1 2026 Earnings of $1.20 Per Share (NYSE:BBY) (2024)

Posted by Defense World Staff on May 24th, 2024

Best Buy Co., Inc. (NYSE:BBY – Free Report) – Investment analysts at Telsey Advisory Group issued their Q1 2026 earnings per share (EPS) estimates for Best Buy in a research note issued to investors on Thursday, May 23rd. Telsey Advisory Group analyst J. Feldman forecasts that the technology retailer will post earnings of $1.20 per share for the quarter. Telsey Advisory Group currently has a “Market Perform” rating and a $95.00 price objective on the stock. The consensus estimate for Best Buy’s current full-year earnings is $6.03 per share. Telsey Advisory Group also issued estimates for Best Buy’s Q2 2026 earnings at $1.38 EPS, Q3 2026 earnings at $1.47 EPS and Q4 2026 earnings at $2.77 EPS.

Best Buy (NYSE:BBY – Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. During the same quarter in the previous year, the firm posted $2.61 earnings per share. The company’s revenue was down .6% on a year-over-year basis.

A number of other brokerages also recently issued reports on BBY. Truist Financial upped their price target on Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Morgan Stanley increased their price target on Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. UBS Group boosted their price target on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Citigroup decreased their price objective on shares of Best Buy from $76.00 to $67.00 and set a “sell” rating for the company in a research report on Tuesday, May 7th. Finally, TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Best Buy currently has a consensus rating of “Hold” and a consensus price target of $84.00.

View Our Latest Report on Best Buy

Best Buy Trading Down 1.3 %

BBY opened at $69.60 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. The firm has a market cap of $15.06 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.11 and a beta of 1.50. Best Buy has a 12 month low of $62.30 and a 12 month high of $86.11. The stock has a fifty day moving average price of $76.57 and a 200-day moving average price of $74.79.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 5.40%. The ex-dividend date was Wednesday, March 20th. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s payout ratio is presently 66.08%.

Insider Buying and Selling

In related news, CEO Corie S. Barry sold 28,042 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $2,293,835.60. Following the completion of the sale, the chief executive officer now owns 429,159 shares of the company’s stock, valued at approximately $35,105,206.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Corie S. Barry sold 28,042 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the completion of the sale, the chief executive officer now owns 429,159 shares of the company’s stock, valued at $35,105,206.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,023 shares of company stock valued at $4,253,900. 0.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC lifted its position in Best Buy by 549.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after buying an additional 302 shares during the last quarter. Bfsg LLC purchased a new position in shares of Best Buy in the fourth quarter valued at approximately $25,000. Rise Advisors LLC boosted its stake in shares of Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after purchasing an additional 132 shares during the period. Naples Money Management LLC purchased a new position in shares of Best Buy in the fourth quarter valued at approximately $27,000. Finally, Access Investment Management LLC purchased a new position in shares of Best Buy in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

About Best Buy

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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.

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