Zacks Research Has Pessimistic View of Best Buy Q2 Earnings

Best Buy Co., Inc. (NYSE:BBY) – Analysts at Zacks Research dropped their Q2 2026 earnings estimates for Best Buy in a report released on Thursday, June 19th. Zacks Research analyst R. Department now anticipates that the technology retailer will post earnings of $1.20 per share for the quarter, down from their previous forecast of $1.33. The consensus estimate for Best Buy’s current full-year earnings is $6.18 per share. Zacks Research also issued estimates for Best Buy’s Q3 2026 earnings at $1.30 EPS, Q4 2026 earnings at $2.58 EPS, FY2026 earnings at $6.23 EPS, Q2 2027 earnings at $1.30 EPS, Q3 2027 earnings at $1.45 EPS, Q4 2027 earnings at $2.81 EPS, FY2027 earnings at $6.76 EPS, Q1 2028 earnings at $1.34 EPS and FY2028 earnings at $7.26 EPS.

Several other brokerages have also issued reports on BBY. Loop Capital decreased their price target on shares of Best Buy from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Guggenheim restated a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a report on Tuesday, June 10th. Evercore ISI lowered their target price on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. BNP Paribas raised Best Buy to a “hold” rating in a research report on Friday, May 30th. Finally, Truist Financial raised their price objective on Best Buy from $64.00 to $69.00 and gave the company a “hold” rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Best Buy presently has an average rating of “Hold” and an average target price of $86.11.

Best Buy Price Performance

BBY opened at $68.89 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. The stock has a fifty day simple moving average of $68.87 and a two-hundred day simple moving average of $76.58. Best Buy has a 12-month low of $54.99 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.06. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.77 billion. Best Buy had a return on equity of 46.40% and a net margin of 2.13%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS.

Institutional Investors Weigh In On Best Buy

A number of institutional investors and hedge funds have recently bought and sold shares of BBY. Voya Investment Management LLC grew its position in shares of Best Buy by 0.8% during the first quarter. Voya Investment Management LLC now owns 63,903 shares of the technology retailer’s stock worth $4,704,000 after purchasing an additional 496 shares in the last quarter. Maple Capital Management Inc. grew its holdings in Best Buy by 7.1% during the 1st quarter. Maple Capital Management Inc. now owns 4,609 shares of the technology retailer’s stock valued at $339,000 after buying an additional 307 shares in the last quarter. Strs Ohio bought a new stake in shares of Best Buy during the first quarter valued at approximately $13,763,000. Intech Investment Management LLC grew its stake in Best Buy by 53.6% during the first quarter. Intech Investment Management LLC now owns 26,462 shares of the technology retailer’s stock valued at $1,948,000 after acquiring an additional 9,231 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in Best Buy in the 1st quarter valued at $990,000. 80.96% of the stock is owned by institutional investors.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the sale, the chairman now directly owns 196,100 shares of the company’s stock, valued at approximately $14,305,495. This represents a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.59% of the stock is currently owned by company insiders.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date is Wednesday, June 18th. Best Buy’s payout ratio is 92.91%.

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.