FY2025 Earnings Estimate for Best Buy Issued By DA Davidson

Best Buy Co., Inc. (NYSE:BBY) – Stock analysts at DA Davidson cut their FY2025 EPS estimates for shares of Best Buy in a research note issued to investors on Wednesday, November 27th. DA Davidson analyst M. Baker now forecasts that the technology retailer will post earnings per share of $6.18 for the year, down from their prior forecast of $6.31. DA Davidson currently has a “Buy” rating and a $117.00 target price on the stock. The consensus estimate for Best Buy’s current full-year earnings is $6.18 per share. DA Davidson also issued estimates for Best Buy’s FY2026 earnings at $6.72 EPS.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter last year, the business earned $1.29 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis.

BBY has been the subject of several other research reports. Piper Sandler reissued an “overweight” rating and set a $114.00 price target (up previously from $100.00) on shares of Best Buy in a report on Friday, August 30th. Evercore ISI raised their target price on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research note on Friday, August 30th. Wells Fargo & Company reduced their price objective 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 Wednesday, November 27th. BNP Paribas upgraded Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Wedbush lifted their target price on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.06.

Best Buy Stock Performance

Shares of NYSE BBY opened at $88.97 on Monday. Best Buy has a 12-month low of $69.29 and a 12-month high of $103.71. The firm has a 50 day moving average of $93.47 and a 200 day moving average of $89.61. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $19.10 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 2.28 and a beta of 1.44.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.23%. Best Buy’s payout ratio is currently 64.27%.

Institutional Trading of Best Buy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. lifted its position in shares of Best Buy by 10.5% during the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after buying an additional 3,025 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Best Buy by 78.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock valued at $172,000 after buying an additional 898 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Best Buy by 27.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after buying an additional 19,405 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Best Buy by 11.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock worth $6,302,000 after acquiring an additional 7,663 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Best Buy by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after acquiring an additional 18,171 shares during the last quarter. 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.