Wedbush Forecasts Best Buy’s FY2028 Earnings (NYSE:BBY)

Best Buy Co., Inc. (NYSE:BBY) – Wedbush issued their FY2028 earnings estimates for shares of Best Buy in a report issued on Monday, March 3rd. Wedbush analyst S. Basham anticipates that the technology retailer will earn $8.33 per share for the year. Wedbush has a “Neutral” rating and a $90.00 price objective on the stock. The consensus estimate for Best Buy’s current full-year earnings is $6.18 per share.

BBY has been the topic of a number of other reports. Barclays decreased their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Truist Financial decreased their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. UBS Group reaffirmed a “buy” rating on shares of Best Buy in a research note on Friday. Loop Capital restated a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a report on Wednesday, December 18th. Finally, Guggenheim lowered their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Best Buy Price Performance

BBY opened at $86.73 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock has a market capitalization of $18.54 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company’s 50 day simple moving average is $86.43 and its 200-day simple moving average is $90.69. Best Buy has a one year low of $69.29 and a one year high of $103.71.

Insiders Place Their Bets

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of Best Buy

Institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. lifted its stake in Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after acquiring an additional 3,025 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after purchasing an additional 19,405 shares during the last quarter. Pinnacle Financial Partners Inc acquired a new stake in Best Buy in the 4th quarter valued at $3,293,000. Klein Pavlis & Peasley Financial Inc. lifted its position in Best Buy by 48.6% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer’s stock worth $2,265,000 after buying an additional 8,640 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its position in Best Buy by 424.0% during the 4th quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer’s stock worth $2,248,000 after buying an additional 21,200 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

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.