What is Zacks Research's Forecast for Best Buy Q1 Earnings?

Best Buy Co., Inc. (NYSE:BBY - Free Report) - Zacks Research reduced their Q1 2026 earnings per share estimates for Best Buy in a research note issued on Tuesday, March 25th. Zacks Research analyst R. Department now expects that the technology retailer will post earnings per share of $1.07 for the quarter, down from their prior forecast of $1.26. 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 Q2 2026 earnings at $1.33 EPS, Q3 2026 earnings at $1.32 EPS, Q4 2026 earnings at $2.60 EPS, FY2026 earnings at $6.32 EPS, Q1 2027 earnings at $1.20 EPS, Q2 2027 earnings at $1.51 EPS, Q3 2027 earnings at $1.47 EPS, Q4 2027 earnings at $2.84 EPS, FY2027 earnings at $7.03 EPS and FY2028 earnings at $7.37 EPS.

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

A number of other equities analysts also recently issued reports on the company. Wedbush reiterated a "neutral" rating and issued a $90.00 price objective on shares of Best Buy in a report on Monday, March 3rd. Barclays decreased their price target on shares of Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. Evercore ISI cut their price objective on shares of Best Buy from $95.00 to $80.00 and set an "in-line" rating on the stock in a report on Wednesday, March 5th. Morgan Stanley lowered their target price on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Finally, Wells Fargo & Company cut their price target on Best Buy from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Best Buy has an average rating of "Hold" and a consensus price target of $93.50.

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Best Buy Stock Up 0.5 %

Shares of NYSE:BBY traded up $0.37 during trading on Thursday, hitting $72.82. The stock had a trading volume of 1,070,565 shares, compared to its average volume of 3,043,601. The company has a quick ratio of 0.22, a current ratio of 1.00 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. The company has a market capitalization of $15.39 billion, a PE ratio of 12.42, a PEG ratio of 2.10 and a beta of 1.43. The firm's fifty day moving average is $82.51 and its 200 day moving average is $88.18.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.22%. 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%.

Insider Buying and Selling

In related news, CEO Corie S. Barry purchased 13,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the acquisition, the chief executive officer now owns 378,780 shares of the company's stock, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 3,182 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $71.29, for a total transaction of $226,844.78. Following the transaction, the chief accounting officer now owns 19,218 shares in the company, valued at $1,370,051.22. This trade represents a 14.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,355 shares of company stock worth $5,767,213. Insiders own 0.59% of the company's stock.

Institutional Trading of Best Buy

A number of hedge funds have recently bought and sold shares of the stock. Stevens Capital Management LP raised its position in shares of Best Buy by 228.7% in the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer's stock worth $1,941,000 after acquiring an additional 15,741 shares in the last quarter. Pinnacle Financial Partners Inc bought a new position in Best Buy in the fourth quarter worth about $3,293,000. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Best Buy by 48.6% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer's stock valued at $2,265,000 after buying an additional 8,640 shares during the last quarter. Alberta Investment Management Corp lifted its position in shares of Best Buy by 424.0% during the fourth quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer's stock valued at $2,248,000 after buying an additional 21,200 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in Best Buy during the 4th quarter worth $453,000. Hedge funds and other institutional investors 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.