Best Buy (NYSE:BBY) Updates FY 2027 Earnings Guidance

Best Buy (NYSE:BBY) updated its FY 2027 earnings guidance on Thursday. The company provided earnings per share guidance of 6.300-6.600 for the period, compared to the consensus earnings per share estimate of 6.490. The company issued revenue guidance of $41.2 billion-$42.1 billion, compared to the consensus revenue estimate of $41.8 billion.

Best Buy Price Performance

BBY opened at $74.84 on Friday. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. Best Buy has a 12-month low of $55.10 and a 12-month high of $84.99. The stock has a fifty day moving average of $61.99 and a 200-day moving average of $66.80. The firm has a market capitalization of $15.77 billion, a P/E ratio of 14.85, a PEG ratio of 1.59 and a beta of 1.22.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The business’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities analysts forecast that Best Buy will post 6.5 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio (DPR) is 76.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lowered Best Buy from a “buy” rating to a “sell” rating and set a $59.00 price objective on the stock. in a research note on Monday, April 13th. Truist Financial dropped their target price on shares of Best Buy from $73.00 to $66.00 and set a “hold” rating for the company in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. lowered shares of Best Buy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $99.00 to $76.00 in a research report on Monday, February 2nd. Evercore set a $65.00 price objective on shares of Best Buy in a report on Tuesday, April 14th. Finally, HSBC decreased their target price on Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.65.

Insider Transactions at Best Buy

In related news, EVP Jason J. Bonfig sold 6,336 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $405,630.72. Following the completion of the transaction, the executive vice president owned 79,137 shares of the company’s stock, valued at approximately $5,066,350.74. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 3,298 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $211,137.96. Following the completion of the sale, the chief accounting officer owned 23,192 shares in the company, valued at approximately $1,484,751.84. This trade represents a 12.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 77,247 shares of company stock worth $4,945,353. Corporate insiders own 0.47% of the company’s stock.

Best Buy News Summary

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy delivered a clean Q1 beat on earnings and revenue, with positive comparable sales growth and improving margins. Best Buy (BBY) Beats Earnings Expectations, Shares Climb 15.8%
• Positive Sentiment: The company maintained its full-year guidance and issued Q2 sales guidance that came in better than expected, reinforcing confidence in the turnaround. Best Buy Reports First Quarter Results
• Positive Sentiment: Analyst sentiment improved after the report, with Jefferies raising its price target to $89 and Morgan Stanley lifting its target to $80, signaling additional upside. Analyst price target updates for Best Buy
• Neutral Sentiment: Unusual call option activity suggests traders are positioning for more volatility and continued momentum in BBY. Stock Traders Buy High Volume of Best Buy Call Options (NYSE:BBY)
• Neutral Sentiment: Best Buy also announced a quarterly dividend of $0.96 per share, which may appeal to income-focused investors. Best Buy dividend announcement

Institutional Trading of Best Buy

Several institutional investors and hedge funds have recently modified their holdings of the business. Palisade Asset Management LLC acquired a new stake in shares of Best Buy in the third quarter valued at about $25,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Best Buy in the 4th quarter valued at about $32,000. CYBER HORNET ETFs LLC acquired a new position in Best Buy during the 2nd quarter worth approximately $33,000. MUFG Securities EMEA plc bought a new position in Best Buy in the second quarter worth approximately $38,000. Finally, DV Equities LLC acquired a new position in Best Buy during the fourth quarter worth $38,000. 80.96% of the stock is currently owned by institutional investors.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.