DA Davidson Has Bullish Forecast for Best Buy Q3 Earnings

Best Buy Co., Inc. (NYSE:BBY) – Research analysts at DA Davidson increased their Q3 2025 earnings per share estimates for Best Buy in a research report issued on Wednesday, October 16th. DA Davidson analyst M. Baker now expects that the technology retailer will post earnings of $1.30 per share for the quarter, up from their previous estimate of $1.27. 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 $6.28 per share. DA Davidson also issued estimates for Best Buy’s FY2025 earnings at $6.31 EPS and FY2026 earnings at $6.92 EPS.

Several other brokerages have also issued reports on BBY. BNP Paribas upgraded Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. Citigroup boosted their target price on Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Bank of America boosted their target price on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. Truist Financial boosted their target price on Best Buy from $86.00 to $107.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Finally, Telsey Advisory Group boosted their target price on Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.71.

Best Buy Stock Down 0.1 %

Shares of NYSE:BBY opened at $96.14 on Thursday. Best Buy has a 1 year low of $62.30 and a 1 year high of $103.71. The business has a 50 day simple moving average of $95.36 and a two-hundred day simple moving average of $86.17. The firm has a market capitalization of $20.74 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the previous year, the firm posted $1.22 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.94 per share. The ex-dividend date was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 3.91%. Best Buy’s dividend payout ratio is currently 65.85%.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the completion of the sale, the chairman now owns 13,602,853 shares in the company, valued at $1,200,451,777.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the transaction, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at approximately $1,200,451,777.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 600,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $88.29, for a total value of $52,974,000.00. Following the transaction, the chairman now directly owns 14,002,853 shares in the company, valued at approximately $1,236,311,891.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Best Buy

Several hedge funds have recently made changes to their positions in BBY. Ninety One UK Ltd acquired a new position in shares of Best Buy in the 2nd quarter valued at $121,325,000. Thrivent Financial for Lutherans increased its position in shares of Best Buy by 4,337.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after acquiring an additional 1,074,718 shares during the period. Bank of New York Mellon Corp increased its position in shares of Best Buy by 55.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock valued at $241,347,000 after acquiring an additional 1,024,824 shares during the period. Swedbank AB acquired a new position in shares of Best Buy in the 1st quarter valued at $43,522,000. Finally, AQR Capital Management LLC increased its position in shares of Best Buy by 55.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after acquiring an additional 491,781 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

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.