Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
BMO Capital analyst Evan Seigerman downgraded BioNTech SE – ADR (NASDAQ:BNTX) from Outperform to Market Perform and cut the price target from $128 to $105. BioNTech closed at $103.76 on Friday. See how other analysts view this stock. JP Morgan analyst Zach Parham downgraded Gulfport Energy Corp (NYSE:GPOR) from Overweight to Underweight and slashed the price target from $240 to $194. Gulfport Energy shares closed at $179.40 on Friday. See how other analysts view this stock. BMO Capital analyst Evan David Seigerman downgraded Amgen Inc (NASDAQ:AMGN) from Outperform to Market Perform and maintained the price target of $450. Amgen closed at $437.23 on Friday. See how other analysts view this stock. DA Davidson analyst Michael Baker downgraded Best Buy Co Inc (NYSE:BBY) from Buy to Neutral and maintained the price target of $95. Best Buy shares closed at $90.27 on Friday. See how other analysts view this stock. Considering buying BBY stock? Here’s what analysts think:
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Jupiter Topco LLC bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,406 shares of the technology retailer’s stock, valued at approximately $2,079,000.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Best Buy during the 2nd quarter worth approximately $1,932,812,000. AQR Capital Management LLC grew its position in shares of Best Buy by 30.9% during the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock worth $613,001,000 after buying an additional 2,160,968 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Best Buy by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock valued at $498,805,000 after acquiring an additional 160,713 shares in the last quarter. Invesco Ltd. increased its stake in shares of Best Buy by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock valued at $316,718,000 after acquiring an additional 271,988 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Best Buy by 19.1% during the 4th quarter. Morgan Stanley now owns 3,778,294 shares of the technology retailer’s stock valued at $252,881,000 after acquiring an additional 605,911 shares during the period. 80.96% of the stock is currently owned by institutional investors.
Insiders Place Their Bets In related news, Chairman Richard Schulze sold 224,705 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $78.10, for a total value of $17,549,460.50. Following the transaction, the chairman owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This trade represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 500,000 shares of company stock valued at $39,065,226. 0.50% of the stock is currently owned by company insiders.
Best Buy Stock Performance NYSE BBY opened at $87.24 on Friday. The company has a market cap of $18.39 billion, a P/E ratio of 14.52, a PEG ratio of 2.17 and a beta of 1.28. The company has a fifty day simple moving average of $83.79 and a 200 day simple moving average of $71.87. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $91.26. Best Buy (NYSE:BBY – Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.81 earnings per share for the current fiscal year.
Best Buy Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, September 17th. Best Buy’s dividend payout ratio is currently 63.89%.
Wall Street Analysts Forecast Growth Several research analysts recently issued reports on the stock. Bank of America initiated coverage on shares of Best Buy in a research note on Monday, August 3rd. They set an “underperform” rating and a $80.00 target price on the stock. Wedbush reiterated a “buy” rating on shares of Best Buy in a report on Monday, August 24th. Wells Fargo & Company increased their price objective on shares of Best Buy from $65.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Finally, Guggenheim boosted their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.40.
Read Our Latest Stock Analysis on Best Buy
About Best Buy (Free Report)
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.
Further Reading Five stocks we like better than Best Buy The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now Dropping the Dough: Yum! Brands Strategically Trims the Fat These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY – Free Report).
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Vancouver, British Columbia, September 3, 2026 – TheNewswire – Frequency Exchange Corp. (TSXV: FREQ | OTC: FRECF | FSE: YC6) (“Frequency Exchange” or the “Company”) is pleased to announce that NIKKI, the Company’s wearable wellness device, has been approved for sale on Best Buy Marketplace, the third-party seller platform available through BestBuy.ca and the Best Buy app. The Company is targeting an initial Canadian launch in Q4 2026.
The launch is being advanced in collaboration with Ripple Distribution and TKG Partners, Frequency Exchange’s retail distribution partner. Ripple/TKG is working with the Company to expand NIKKI’s presence across major retailers in Canada and select international markets. Frequency Exchange views Best Buy as a significant first step in expanding its NIKKI wellness platform into mainstream consumer retail and establishing additional distribution channels.
Best Buy already serves consumers through an established ecosystem of leading wearable and health-tracking brands, including Apple, WHOOP, Oura and Fitbit. NIKKI is designed to complement this ecosystem by offering consumers a frequency-based wellness platform alongside the tracking and monitoring capabilities of their existing devices.
NIKKI delivers frequency-based wellness programs designed to support sleep, stress, recovery and overall vitality, and can be used independently or alongside existing wearable and health-tracking devices.
Stephen Davis, CEO of Frequency Exchange, commented: “This represents a significant advancement for NIKKI and for our commercialization strategy. As we prepare for NIKKI’s planned launch on Best Buy Marketplace, we are also encouraged to have approximately CAD$600,000 in commitments already secured toward the first tranche of our current financing. This early support comes at an important time as we move into the next stage of execution, with Best Buy Marketplace, additional retail opportunities and international distribution all advancing.”
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Davis added: “Best Buy has helped bring wearable health-tracking technology into the mainstream, giving consumers access to leading devices that track areas such as sleep, stress, activity and recovery. With NIKKI, we believe Best Buy now has the opportunity to help introduce the next evolution of wearable wellness, a technology designed to support the very areas those devices are tracking. Just as Best Buy helped consumers discover wearable tracking technology, we believe it can play an important role in introducing NIKKI as the companion to that technology.”
The Company believes the planned Q4 launch represents a pivotal commercial milestone for NIKKI. As NIKKI becomes available to consumers through Best Buy Marketplace, the technology is also expected to gain additional exposure through Superhuman 2: REBIRTH, a major documentary focused on frequencies, while Frequency Exchange continues to advance NIKKI’s introduction to consumers through its access to more than 7,000 wellness clinics in the United States.
Together, these initiatives are expected to position NIKKI across three complementary channels — mainstream retail, practitioner access and consumer media — creating multiple avenues for consumer discovery, adoption and long-term brand development.
About Ripple Distribution and TKG Partners
Ripple Distribution and TKG Partners are an end-to-end retail distribution partner focused on building brands through channel development, sales and retail expansion across North American and international markets. Ripple/TKG maintains relationships with a broad network of major retailers that the Company believes represent potential future opportunities for NIKKI.
About Frequency Exchange Corp.
Frequency Exchange Corp. (TSXV: FREQ | OTC: FRECF | FSE: YC6) is a technology company building the next generation of wearable digital wellness solutions through its flagship platform, NIKKI®. Unlike traditional wearable devices that primarily monitor health metrics, NIKKI delivers personalized frequency-based wellness programs designed to support sleep, stress, recovery, energy and overall wellbeing. Originally developed through research supporting individuals living with Lyme disease, NIKKI has evolved into a scalable digital wellness platform addressing some of today’s largest global health challenges.
For additional information, please visit www.frequencyexchangecorp.com or www.wearenikki.com.
Investor Contacts:
Frequency Exchange Corp. FREmedica Technologies Inc.
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements reflect the Company’s current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements.
Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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Stock to Watch: Best Buy (BBY - Free Report) Founded in 1966 and headquartered in Richfield, MN, Best Buy Co., Inc. (BBY - Free Report) is one of North America's largest specialty retailers of consumer electronics, computing products, appliances, entertainment products, mobile phones and technology-related services. The company operates as an omnichannel retailer, combining its extensive store network with e-commerce capabilities to provide customers with a seamless shopping experience across physical and digital channels.
BBY is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 12.23; value investors should take notice.
For fiscal 2027, nine analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.18 to $6.74 per share. BBY boasts an average earnings surprise of +6.1%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, BBY should be on investors' short list.
Best Buy on Thursday reported better-than-expected fiscal second-quarter results and raised its full-year outlook as the company's recovery showed more signs of taking hold.
The consumer electronics retailer said it saw comparable sales growth of 4.1% during the second quarter, compared with its previous outlook of just 1%, and saw a "higher-than-expected" adjusted operating income rate. Best Buy said it drove growth across all of its major categories, with a surge in computing contributing to that strength.
Best Buy also raised its full fiscal-year financial guidance due to what incoming CEO Jason Bonfig called in the release its "strong first half performance." The company now expects revenue of between $42.3 billion and $42.8 billion, compared with prior guidance of a range between $41.2 billion to $42.1 billion. It also anticipates comparable sales will climb 1.9% to 3%, compared with prior expectations of between a decline of 1% and increase of 1%.
Still, shares of the company sank about 7% in morning trading Thursday.
Bonfig told CNBC the company hasn't seen the customer change dramatically, and behavior has instead been "very consistent quarter over quarter." He added that tech innovation drove customer interest over the quarter, likely contributing to the higher comparable sales figure.
Best Buy said it now expects adjusted earnings per share for the year to be between $6.70 and $6.90, compared with prior guidance of between $6.30 and $6.60 per share.
The company also said its gross profit rate for the quarter included a $34 million benefit from tariff refunds.
Current CEO Corie Barry told CNBC the company was being more explicit than usual about the tariff refunds so the company is well-positioned to operate next year when comparing back to this quarter.
"We are trying to be very transparent so that everyone can easily do the math and understand what those quantities are and still understand the strength of the base business even without those tariff refunds," she told CNBC.
Here's how the company performed in its fiscal second quarter compared with what Wall Street was expecting, according to a survey of analysts by LSEG:
Earnings per share: $1.47 adjusted vs. $1.38 expectedRevenue: $9.78 billion vs. $9.59 billion expectedFor the quarter ended Aug. 1, Best Buy reported net income of $315 million, or $1.48 per share, compared with $186 million, or 87 cents per share, a year earlier. Adjusting for one-time items, Best Buy posted adjusted earnings of $1.47 per share.
Revenue rose 3.6% from $9.44 billion in the year-ago period.
The earnings marked the last quarter of reporting under current CEO Corie Barry. Bonfig will take over the reins of the company on Nov. 1, a leadership change that was part of a broader strategy to accelerate Best Buy's business.
"The strength of our Q2 results reflects both the deliberate actions we have taken to position the business for growth and a healthy demand environment for our category," Bonfig said in the release.
The company reiterated that customers continue to spend, though they are still focused on value and sales.
Bonfig told CNBC that Best Buy is seeing higher prices in computing, but the company is focused on changing its assortment to ensure it's meeting the price points that its customers are seeking.
"We create products to make sure that those price points are covered, which is a little bit different than some of our competitors," Bonfig said.
Bonfig said the company remains confident in the health of the consumer and is well-positioned in categories including TV, appliances and phones. He added that the launch of Grand Theft Auto 6 in the fourth quarter will drive additional interest in the gaming category.
"We're very optimistic, but we think the customer continues to be resilient and interested in new technology or finding things within their budget, and we'll be focused on those sales periods and those deals, which is obviously a big thing as we move into holiday," Bonfig said.
The consumer electronics retailer has also been hit by tariffs and the soaring price of memory chips. Best Buy said Thursday that it's continuing to navigate those industrywide challenges and sees customers shopping with specific needs and budgets.
Best Buy has been in a sales slump after it reported declining foot traffic and lower consumer confidence in recent quarters. Bonfig previously told CNBC he's confident in his abilities to refresh the company and its products and enhance the customer experience.
Part of that strategy has been opening smaller format stores in an effort to expand Best Buy's presence in areas that can't sustain a full-sized location. Bonfig also said he plans to leverage artificial intelligence to improve the store experience and corporate processes.
Best Buy (BBY.N) raised its full-year forecasts on Thursday on expectations of AI-driven device upgrades and advertising growth, but its shares fell 4.5% as investors looked past a tariff-refund boost and booked profits after a recent rally.
The top U.S. electronics retailer has sharpened its focus on fast-growing categories, including AI glasses, 3D printers and collectibles, as sales of appliances, such as refrigerators, washing machines and dishwashers, have remained under pressure.
"While customers continue to be thoughtful about big-ticket purchases, they are willing to spend on high-price-point products when they need to or when there is technology innovation," said outgoing CEO Corie Barry.
Investors had expected more from Best Buy's results, which could have contributed to the share decline, Citi analyst Steven Zaccone said.
Although adjusted second-quarter earnings per share beat estimates, the result was boosted by temporary tariff refunds, which may have disappointed investors, Zaccone added.
The company also flagged a drag from higher fuel costs on its margins in the back half of 2026.
U.S. retailers have signaled during the latest earnings season how consumers, squeezed by higher fuel prices and elevated food costs, have cut back spending on large discretionary purchases.
Best Buy also raised its annual profit forecast, but that was driven mostly by a tariff refund of about $34 million.
The company's shares have risen about 30% so far this year through the last close, as investors bought into signs of a revival at the retailer from demand for pricier AI-powered gadgets from affluent consumers.
Best Buy is preparing for a leadership transition, with company veteran Jason Bonfig set to become the CEO later in the year, succeeding Corie Barry. The retailer has also named industry expert Anne Bramman as its new finance chief.
Memory chip prices have been rising as AI data-center demand tightens supply, creating cost pressure for Best Buy and its suppliers.
The higher costs of memory chips led to a mid-single-digit rise in average selling prices in the quarter, while the decline in units sold was in the high single digits, incoming CEO Bonfig said on a post-earnings call.
The top U.S. electronics retailer expects annual revenue of $42.3 billion to $42.8 billion, compared with its earlier forecast of $41.2 billion to $42.1 billion.
The company projected fiscal comparable sales growth of 1.9% to 3%, up from its previous forecast range of a decline of 1% to a growth of 1%.
Best Buy is building its higher-margin marketplace and advertising businesses to help cushion fluctuations in sales from uneven consumer spending.
Second-quarter adjusted earnings per share of $1.47 beat estimates of $1.38, according to data compiled by LSEG.
Best Buy expects annual earnings per share of $6.70 to $6.90, compared with the $6.30 to $6.60 estimated earlier.
Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended August 1, 2026 (âQ2 FY27â), as compared to the 13-week second qu
Best Buy (BBY - Free Report) came out with quarterly earnings of $1.47 per share, beating the Zacks Consensus Estimate of $1.37 per share. This compares to earnings of $1.28 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +7.30%. A quarter ago, it was expected that this consumer electronics retailer would post earnings of $1.22 per share when it actually produced earnings of $1.28, delivering a surprise of +4.92%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Best Buy, which belongs to the Zacks Retail - Consumer Electronics industry, posted revenues of $9.78 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 2.25%. This compares to year-ago revenues of $9.44 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Best Buy shares have added about 30.6% since the beginning of the year versus the S&P 500's gain of 12.1%.
What's Next for Best Buy?While Best Buy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Best Buy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.39 on $9.66 billion in revenues for the coming quarter and $6.60 on $42.07 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Consumer Electronics is currently in the top 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Retail-Wholesale sector, Vera Bradley (VRA - Free Report) , has yet to report results for the quarter ended July 2026.
This handbag and accessories company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -300%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Vera Bradley's revenues are expected to be $65.96 million, down 6.9% from the year-ago quarter.
"It's a tale of two retailers" between Dollar General (DG) and Dollar Tree (DLTR), says Diane King Hall. She explains why one is rallying while the other is selling off after earnings.
For the quarter ended July 2026, Best Buy (BBY - Free Report) reported revenue of $9.78 billion, up 3.6% over the same period last year. EPS came in at $1.47, compared to $1.28 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.56 billion, representing a surprise of +2.25%. The company delivered an EPS surprise of +7.3%, with the consensus EPS estimate being $1.37.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Best Buy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable store sales - Enterprise - YoY change: 4.1% compared to the 1.6% average estimate based on eight analysts.Comparable store sales - Domestic - YoY change: 4.5% versus the six-analyst average estimate of 1.8%.Comparable store sales - International - YoY change: -1.8% versus the six-analyst average estimate of 1.5%.Number of stores - Total: 1,068 versus the five-analyst average estimate of 1,067.Number of stores - Domestic - Total: 926 versus the four-analyst average estimate of 925.Number of stores - International - Total: 142 versus the four-analyst average estimate of 141.Retail square footage - International - Total: 3.56 Msq ft versus the three-analyst average estimate of 3.59 Msq ft.Retail square footage - Total: 39.46 Msq ft versus the three-analyst average estimate of 39.38 Msq ft.Retail square footage - Domestic - Total: 35.91 Msq ft compared to the 35.79 Msq ft average estimate based on three analysts.Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores: 12 compared to the 12 average estimate based on three analysts.Geographic Revenue- International: $709 million compared to the $760.43 million average estimate based on five analysts. The reported number represents a change of -4.2% year over year.Geographic Revenue- Domestic: $9.07 billion versus $8.83 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.View all Key Company Metrics for Best Buy here>>>
Shares of Best Buy have returned -3% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Best Buy Co Inc (NYSE:BBY) raised its annual sales and profit forecast on Thursday after posting second-quarter results that topped Wall Street expectations, even as shares fell 5%.
The consumer electronics retailer reported revenue of $9.8 billion for the quarter, above analyst estimates of $9.59 billion and up 4% from a year earlier. Adjusted earnings per share came in at $1.47, compared with estimates of $1.38 and up 15% year-over-year.
Comparable sales rose 4.1%, an increase of 160 basis points from the prior year, while operating margin expanded to 4.3%, also up 160 basis points.
For the full fiscal year, Best Buy now expects revenue of $42.3 billion to $42.8 billion, above the $42 billion analysts had projected. The company raised its adjusted EPS outlook to a range of $6.70 to $6.90, from a prior estimate of $6.58.
Comparable sales for the year are now expected to grow between 1.9% and 3%, an increase from the previous guidance range of -1% to 1%. Adjusted operating income rate is forecast at 4.4% to 4.5%, up from 4.3% to 4.4% previously. The adjusted effective income tax rate remains unchanged at 25.5%, and capital expenditures are still expected at approximately $750 million.
For the third quarter, Best Buy guided comparable sales growth of 1% to 3% and an adjusted operating income rate of 4.1% to 4.2%.
Domestic segment net revenue reached $9.1 billion, up 4% from a year earlier, while international net revenue declined 4% to $709 million.
Is Best Buy the AI Winner Hiding in the Electronics Aisle?Best Buy NYSE: BBY reported second-quarter fiscal 2027 results that exceeded its prior expectations, supported by growth in computing, home theater, mobile phones and newer product categories. The company raised its full-year outlook while outlining continued investments in retail media, its third-party marketplace, store formats and AI-enabled shopping tools.
Revenue for the quarter totaled $9.8 billion, up 3.6% from a year earlier. Enterprise comparable sales increased 4.1%, above the company’s prior expectation for roughly 1% growth. Adjusted operating income rate rose about 40 basis points year over year to 4.3%, while adjusted diluted earnings per share increased 15% to $1.47.
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Confidence Is Back, But Earnings Show the Consumer Is Being PickyCEO Corie Barry, who said the call would be her final earnings call as chief executive, attributed the performance to employee execution and momentum in categories tied to replacement needs and product innovation. Jason Bonfig, the company’s chief customer, product and fulfillment officer and incoming CEO, said Best Buy’s results reflected both internal initiatives and a healthy demand backdrop for its product categories.
Category growth led by computing and home theater Computing was the largest weighted comparable-sales driver in the quarter, marking its 10th consecutive quarter of positive comparable sales. Best Buy Business sales rose 21% from the prior year, helping support the category. Barry said the company’s business-to-business operation generates more than $1.1 billion in annual sales and has been growing at roughly 15% to 20% in the first half.
Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs ProofHome theater was the second-largest weighted comp contributor, with the company reporting domestic television sales growth of more than 10% year over year. Bonfig cited product assortment, inventory availability, delivery and installation improvements, as well as the launch of RGB television technology. Best Buy said it will be the only national retailer offering RGB TVs for customers to discover, experience and purchase during the next year.
The company also reported that sales in a group of emerging categories—including AI glasses, trading cards and health rings—more than doubled from a year earlier. Bonfig said those categories collectively contributed about 1 percentage point to comparable sales during the quarter.
Mobile phones delivered a sixth consecutive quarter of growth, aided by expanded carrier partnerships and store operating improvements. Major appliances posted slight sales growth, which management attributed to investments in pricing, marketing, product availability and faster delivery. Best Buy said next-day appliance availability is now offered in nearly all metro delivery locations, compared with less than half in the first quarter.
Traditional gaming sales declined as the company lapped the prior-year launch of the Nintendo Switch 2. Management expects the fourth-quarter release of Grand Theft Auto VI to support gaming software, hardware and accessories.
Marketplace, advertising and digital initiatives Best Buy continued to highlight its marketplace and advertising operations as growing profit streams. Best Buy Ads is on track to grow 10% this year after generating $900 million in collections last year, Bonfig said.
The company’s U.S. marketplace reached approximately $300 million in gross merchandise value during the second quarter. Best Buy now expects marketplace GMV of $1.3 billion for the full year, citing stronger-than-anticipated performance. The company plans to begin adding international marketplace sellers later in the quarter, expanding participation beyond sellers with a U.S. physical presence.
Management said marketplace and advertising growth contributed to domestic gross profit rate expansion. Domestic gross profit rate increased 60 basis points to 24%, also benefiting from $34 million in tariff refunds. Those gains were partly offset by lower product margin rates, primarily tied to investments in major appliances.
Best Buy also announced the phased rollout of Ask Blue, a conversational AI shopping and support assistant. The tool can compare products, assess compatibility, provide product and support information, and direct customers to self-service tools or live support. The company also completed a commerce integration with OpenAI, allowing customers to discover products, receive recommendations and make Best Buy purchases within ChatGPT.
Guidance raised as company monitors computing costs For fiscal 2027, Best Buy raised its guidance to revenue of $42.3 billion to $42.8 billion, comparable-sales growth of 1.9% to 3%, adjusted operating income rate of 4.4% to 4.5%, and adjusted diluted earnings per share of $6.70 to $6.90. Capital expenditures are expected to be approximately $750 million.
Third-quarter comparable-sales growth is expected to be 1% to 3%. Third-quarter adjusted operating income rate is projected at approximately 4.1% to 4.2%. August month-to-date comparable sales were at the high end of the company’s 1% to 3% second-half growth range. Best Buy said computing growth is expected to slow in the second half as the company laps two years of growth and a strong third quarter last year that benefited from the end of Windows 10 support. The company is also managing industry-wide increases in memory costs. In the second quarter, computing average selling prices increased in the mid-teens while unit sales declined in the high single digits.
Bonfig said Best Buy is working with vendors to maintain product choices at key price points and is using trade-ins, financing and promotions to help customers manage higher prices. Management said the memory-cost issue has primarily affected computing rather than other categories.
Barry said the consumer remains value-focused and responsive to sales events, but is still willing to purchase higher-priced products when replacement needs arise or new technology offers compelling benefits. The company also said it did not see material evidence of broad customer demand pull-forward following a major product price announcement.
Bonfig is set to formally assume the CEO role on Nov. 1, while Anne Bramman recently joined Best Buy as chief financial officer.
About Best Buy (NYSE:BBY)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.
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Best Buy is reaching customers in new ways, both in stores and online, executives said Thursday (Aug. 27) during the specialty consumer electronics retailer’s quarterly earnings call.
Best Buy has begun rolling out a new conversational artificial intelligence assistant called Ask Blue. The assistant can provide product knowledge, support resources, customer reviews, availability and pricing, Jason Bonfig, Best Buy chief customer, product and fulfillment officer and incoming CEO, effective Nov. 1, said during the call.
“Ask Blue will help customers figure out what tech is right for them,” Bonfig said. “For example, it can quickly compare products, find important differences between them, check fit or compatibility, and get support for common questions. Depending on the need, Ask Blue can guide a customer to self-service resources or connect them to a live specialist.”
Best Buy recently completed its commerce integration with OpenAI, enabling customers to discover products, receive recommendations and complete purchases within ChatGPT.
“We view this as an important step in expanding our digital ecosystem and positioning Best Buy at the forefront of emerging AI-enabled commerce experiences,” Bonfig said.
In another online channel, Best Buy will begin adding international sellers to its third-party marketplace later this quarter. The retailer launched its U.S. digital marketplace one year ago and required all sellers to have a U.S. physical presence.
“Last week marked one year since our launch of the U.S. marketplace, and we’re pleased with how it’s expanding our reach with new SKUs and categories,” Bonfig said.
In stores, Best Buy has implemented more than half of the 50 Meta Lab @ Best Buy spaces it announced June 8. These are in-store spaces that span about 900 square feet, are staffed by specially trained employees focused exclusively on the Meta ecosystem, and feature Meta’s AI glasses and virtual reality solutions.
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“Although still early, customer response has been exceptionally strong and has exceeded our initial expectations,” Bonfig said. “Based on what we are seeing, we believe there is significant potential to expand this model to additional vendor partners.”
Best Buy is also repurposing space in some of its stores to add outlet experiences.
“We’ve replaced many standalone outlet locations,” Bonfig said. “Customers benefit from greater convenience while we benefit from stronger utilization of our existing footprint.”
Another way Best Buy is expanding the reach of its brick-and-mortar footprint is by adding smaller-format stores. These smaller stores enable Best Buy to extend its in-store experience to markets that can’t support its traditional store format.
“Although the strategy is still in its early stages, we are pleased with the customer response and encouraged by the performance we are seeing,” Bonfig said. “What is particularly exciting is the way these stores accelerate omnichannel engagement. Customers often begin their relationship with Best Buy through a store visit, but quickly adopt our app, our digital channels, membership programs and services. As a result, these locations act as both retail destinations and customer acquisition engines.”
During the company’s second quarter fiscal year 2027, which ended Aug. 1, Best Buy’s comparable sales increased 4.1%, with growth across almost all of its major product categories, according to a Thursday press release.
The largest drivers of comparable sales were computing, home theater and a collection of emerging categories that includes AI glasses, trading cards and health rings. The company saw a decline in the traditional gaming category.
Looking ahead, Best Buy raised its fiscal year 2027 comparable sales guidance to a range of 1.9% to 3.0%, up from its previous guidance of negative 1.0% to 1.0%.
Best Buy CEO Corie Barry said during the call: “Consistent with the past several quarters, we see a customer who is still spending but is value-focused and attracted to sales moments. Importantly, while customers continue to be thoughtful about big-ticket purchases, they are willing to spend on high price point products when they need to or when there is technology innovation.”
Best Buy (BBY) is experiencing a decline in its stock price despite posting a strong Q2 performance and raising its fiscal year 2027 guidance. Investors are foc
Best Buy (BBY -1.34%) tumbled 4.3% through 11:50 a.m. ET this morning despite beating on sales, beating on earnings, and issuing raised guidance, too! Expected to earn only $1.35 per share (pro forma) on sales of $9.5 billion, Best Buy delivered $1.47 in profit and sales of $9.8 billion.
So... what's up with that? Why is Best Buy stock down when all it gave investors today was good news?
Image source: Getty Images.
Best Buy Q2 earnings In fiscal Q2 2027, Best Buy grew its sales by a modest 3.6%, with same-store sales rising slightly faster at 4.1%. Pro forma profits did better, growing 15% year over year, while earnings calculated under generally accepted accounting principles (GAAP) showed tremendous improvement -- up 70%.
Really, the only bad news Best Buy had to offer was this: international sales declined by 4.2%. Still, international is a relatively small part of Best Buy -- and its underperformance was more than offset by outperformance in basically every other segment of the business.
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What's next for Best Buy stock? Can Best Buy continue to outperform? Management seems confident that it can. As it enters the year's back half, Best Buy forecasts fiscal 2027 sales of about $42.5 billion (Wall Street only expects $42.1 billion) and pro forma profits between $6.70 and $6.90 (Wall Street expects $6.62).
In other words, Best Buy should beat on both sales and earnings... all year long!
Admittedly, management did not give a GAAP forecast. But seeing as the difference between GAAP and non-GAAP in Q2 was just one penny, it seems likely GAAP earnings will turn out just fine. Assuming it ends up earning $6.80 or thereabouts this year and is therefore trading at about 12.2x current-year earnings, Best Buy stock looks like a buy to me.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Best Buy. The Motley Fool has a disclosure policy.
Best Buy Co., Inc. (BBY) Q2 2027 Earnings Call August 27, 2026 8:00 AM EDT
Company Participants
Mollie O'Brien
Corie Barry - CEO & Director
Jason Bonfig - Senior EVP, Chief Customer, Product & Fulfillment Officer
Conference Call Participants
Scot Ciccarelli - Truist Securities, Inc., Research Division
Simeon Gutman - Morgan Stanley, Research Division
Jonathan Matuszewski - Jefferies LLC, Research Division
Michael Lasser - UBS Investment Bank, Research Division
Joseph Feldman - Telsey Advisory Group LLC
Steven Zaccone - Citigroup Inc., Research Division
Steven Forbes - Guggenheim Securities, LLC, Research Division
Christopher Horvers - JPMorgan Chase & Co, Research Division
Presentation
Operator
Ladies and gentlemen, thank you for standing by. Welcome to Best Buy's Second Quarter Fiscal 2027 Earnings Call. [Operator Instructions] As a reminder, this call is being recorded for playback and will be available by approximately 1:00 p.m. Eastern Time today. [Operator Instructions]
I will now turn the conference call over to Mollie O'Brien, Head of Investor Relations. Mollie, please go ahead.
Mollie O'Brien
Thank you, and good morning, everyone. Joining me on the call today are Corie Barry, our CEO; and Jason Bonfig, our Chief Customer, Product and Fulfillment Officer and incoming CEO.
During the call today, we will be discussing both GAAP and non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures and an explanation of why these non-GAAP financial measures are useful can be found in this morning's earnings release available on our website, investors.bestbuy.com.
Some of the statements we will make today are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may address the financial condition, business initiatives, growth plans, investments and expected performance of the company and are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.
Key Takeaways BBY's adjusted earnings jumped 70.1%, while revenues rose 3.6% year over year.Domestic comparable sales rose 4.5%, driven by computing, mobile phones, electronics and services.BBY raised fiscal 2027 revenues, comparable-sales, earnings and adjusted operating margin guidance. Best Buy Co., Inc. (BBY - Free Report) reported better-than-expected second-quarter fiscal 2027 results, with both the top and bottom lines rising year over year. Both metrics surpassed the Zacks Consensus Estimates.
BBY posted adjusted earnings of $1.48 per share, which increased 70.1% from 87 cents a year ago and beat the Zacks Consensus Estimate of $1.37 by 8%.
Revenues rose 3.6% to $9.78 billion from $9.44 billion, topping the consensus mark of $9.56 billion by 2.2%. The performance reflected broad category growth and improved profitability. Enterprise comparable sales increased 4.1% compared with growth of 1.6% in the year-ago quarter.
BBY's Category Trends Support Sales MomentumDomestic comparable sales advanced 4.5% in the second quarter compared with 1.1% growth a year ago. Computing and mobile phones comps increased 6.8% compared with 3.8%, while consumer electronics rose 5.6% compared to a 5.2% decline in the prior-year quarter.
Services comparable sales grew 6.4% versus 3.7%, and appliances edged up 0.2% compared with a 9.2% decline a year ago. Entertainment fell 6.3% after increasing 39.3% in the prior-year period. Management identified computing, home theater and emerging categories such as AI glasses and trading cards as the largest weighted growth drivers, partly offset by weakness in traditional gaming.
Best Buy's Domestic Business Drives GrowthDomestic revenues increased 4.3% to $9.07 billion from $8.70 billion in the year-ago quarter. Domestic comparable online sales rose 5.1% in the second quarter, matching the rate recorded a year earlier. Online sales represented 33.1% of domestic revenues compared with 32.8% previously.
Domestic gross profit increased to $2.18 billion from $2.03 billion in the reported quarter, while the gross profit rate expanded to 24% from 23.4%. The improvement reflected growth in Marketplace and Best Buy Ads and approximately $34 million of IEEPA tariff refunds, partly offset by lower product margin rates.
BBY's Profitability Improves Despite Higher ExpensesConsolidated gross profit rose to $2.34 billion from $2.19 billion, with gross margin improving to 23.9% from 23.2%. SG&A expenses increased to $1.92 billion from $1.83 billion and represented 19.7% of revenues compared with 19.4% a year earlier.
Operating income increased to $421 million from $251 million, while the operating margin expanded to 4.3% from 2.7%. Adjusted operating income rose to $417 million from $369 million, with the adjusted margin increasing to 4.3% from 3.9%. BBY recorded a $6 million reduction in restructuring charges compared with $114 million of charges a year ago.
Best Buy's International Business SoftensInternational revenues declined 4.2% to $709 million from $740 million in the second-quarter. Comparable sales decreased 1.8% compared with growth of 7.6% in the year-ago quarter. The company attributed the revenues decline primarily to lower comparable sales and the negative impact of foreign exchange rates.
International gross profit declined to $158 million compared with $161 million, though the gross profit rate improved to 22.3% from 21.8%. Adjusted SG&A increased to $145 million from $143 million and represented 20.5% of revenues versus 19.3%. Adjusted operating income declined to $13 million from $18 million, while the corresponding margin fell to 1.8% from 2.4%.
BBY's Cash Flow and Liquidity StrengthenFor the first six months of fiscal 2027, cash provided by operating activities increased to $1.30 billion from $783 million a year ago. Additions to property and equipment were $344 million compared with $341 million in the prior-year period.
Cash and cash equivalents stood at $2.26 billion at quarter end compared with $1.46 billion a year earlier. Merchandise inventories increased to $6.30 billion from $5.82 billion. During the first six months, BBY paid $405 million in dividends versus $403 million a year ago and spent $36 million on share repurchases compared with $165 million.
Best Buy Raises Fiscal 2027 OutlookBest Buy raised its fiscal 2027 revenue guidance to $42.3-$42.8 billion from its prior forecast of $41.2-$42.1 billion. Comparable sales are now expected to increase 1.9-3% compared with the previous outlook ranging from a 1% decline to 1% growth.
The company increased its adjusted earnings outlook to $6.70-$6.90 per share from $6.30-$6.60 and raised its adjusted operating income rate forecast to 4.4-4.5% from 4.3-4.4%. Capital expenditures remain projected at approximately $750 million, unchanged from the prior outlook. Management attributed the higher annual guidance to strong first-half performance and momentum entering the second half.
This Zacks Rank #3 (Hold) company’s shares have gained 17% over the past three months, in line with the industry's growth.
Image Source: Zacks Investment Research
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Revenue: Enterprise revenue of $9.8 billion, up 3.6% versus last year.Comparable Sales: Enterprise comparable sales grew 4.1%, exceeding guidance of approximate
MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.96 per common share. The quarterly dividend is payable on October 8, 2026, to shareholders of record as of the close of business on September 17, 2026. The company had 210,378,803 shares of common stock issued and outstanding as of August 1, 2026.
The Board of Directors of Best Buy Co., Inc.
NYSE:BBY has authorized the payment of a regular quarterly cash dividend of $0.96 per common share. The quarterly dividend is payable on October 8, 2026, to shareholders of record as of the close of business on September 17, 2026. The company had 210,378,803 shares of common stock issued and outstanding as of August 1, 2026.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260827424558/en/
Best Buy (NYSE:BBY) reported second-quarter fiscal 2027 results that exceeded its prior expectations, supported by growth in computing, home theater, mobile phones and newer product categories. The company raised its full-year outlook while outlining continued investments in retail media, its third-party marketplace, store formats and AI-enabled shopping tools.
Revenue for the quarter totaled $9.8 billion, up 3.6% from a year earlier. Enterprise comparable sales increased 4.1%, above the company’s prior expectation for roughly 1% growth. Adjusted operating income rate rose about 40 basis points year over year to 4.3%, while adjusted diluted earnings per share increased 15% to $1.47.
CEO Corie Barry, who said the call would be her final earnings call as chief executive, attributed the performance to employee execution and momentum in categories tied to replacement needs and product innovation. Jason Bonfig, the company’s chief customer, product and fulfillment officer and incoming CEO, said Best Buy’s results reflected both internal initiatives and a healthy demand backdrop for its product categories. Category growth led by computing and home theater Computing was the largest weighted comparable-sales driver in the quarter, marking its 10th consecutive quarter of positive comparable sales. Best Buy Business sales rose 21% from the prior year, helping support the category. Barry said the company’s business-to-business operation generates more than $1.1 billion in annual sales and has been growing at roughly 15% to 20% in the first half.
Home theater was the second-largest weighted comp contributor, with the company reporting domestic television sales growth of more than 10% year over year. Bonfig cited product assortment, inventory availability, delivery and installation improvements, as well as the launch of RGB television technology. Best Buy said it will be the only national retailer offering RGB TVs for customers to discover, experience and purchase during the next year.
The company also reported that sales in a group of emerging categories—including AI glasses, trading cards and health rings—more than doubled from a year earlier. Bonfig said those categories collectively contributed about 1 percentage point to comparable sales during the quarter.
Mobile phones delivered a sixth consecutive quarter of growth, aided by expanded carrier partnerships and store operating improvements. Major appliances posted slight sales growth, which management attributed to investments in pricing, marketing, product availability and faster delivery. Best Buy said next-day appliance availability is now offered in nearly all metro delivery locations, compared with less than half in the first quarter.
Traditional gaming sales declined as the company lapped the prior-year launch of the Nintendo Switch 2. Management expects the fourth-quarter release of Grand Theft Auto VI to support gaming software, hardware and accessories.
Marketplace, advertising and digital initiatives Best Buy continued to highlight its marketplace and advertising operations as growing profit streams. Best Buy Ads is on track to grow 10% this year after generating $900 million in collections last year, Bonfig said.
The company’s U.S. marketplace reached approximately $300 million in gross merchandise value during the second quarter. Best Buy now expects marketplace GMV of $1.3 billion for the full year, citing stronger-than-anticipated performance. The company plans to begin adding international marketplace sellers later in the quarter, expanding participation beyond sellers with a U.S. physical presence.
Management said marketplace and advertising growth contributed to domestic gross profit rate expansion. Domestic gross profit rate increased 60 basis points to 24%, also benefiting from $34 million in tariff refunds. Those gains were partly offset by lower product margin rates, primarily tied to investments in major appliances.
Best Buy also announced the phased rollout of Ask Blue, a conversational AI shopping and support assistant. The tool can compare products, assess compatibility, provide product and support information, and direct customers to self-service tools or live support. The company also completed a commerce integration with OpenAI, allowing customers to discover products, receive recommendations and make Best Buy purchases within ChatGPT.
Guidance raised as company monitors computing costs For fiscal 2027, Best Buy raised its guidance to revenue of $42.3 billion to $42.8 billion, comparable-sales growth of 1.9% to 3%, adjusted operating income rate of 4.4% to 4.5%, and adjusted diluted earnings per share of $6.70 to $6.90. Capital expenditures are expected to be approximately $750 million.
Third-quarter comparable-sales growth is expected to be 1% to 3%. Third-quarter adjusted operating income rate is projected at approximately 4.1% to 4.2%. August month-to-date comparable sales were at the high end of the company’s 1% to 3% second-half growth range. Best Buy said computing growth is expected to slow in the second half as the company laps two years of growth and a strong third quarter last year that benefited from the end of Windows 10 support. The company is also managing industry-wide increases in memory costs. In the second quarter, computing average selling prices increased in the mid-teens while unit sales declined in the high single digits.
Bonfig said Best Buy is working with vendors to maintain product choices at key price points and is using trade-ins, financing and promotions to help customers manage higher prices. Management said the memory-cost issue has primarily affected computing rather than other categories.
Barry said the consumer remains value-focused and responsive to sales events, but is still willing to purchase higher-priced products when replacement needs arise or new technology offers compelling benefits. The company also said it did not see material evidence of broad customer demand pull-forward following a major product price announcement.
Bonfig is set to formally assume the CEO role on Nov. 1, while Anne Bramman recently joined Best Buy as chief financial officer.
About Best Buy (NYSE:BBY) 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.
Analysts on Wall Street project that Best Buy (BBY - Free Report) will announce quarterly earnings of $1.35 per share in its forthcoming report, representing an increase of 5.5% year over year. Revenues are projected to reach $9.52 billion, increasing 0.8% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Best Buy metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts predict that the 'Geographic Revenue- Domestic' will reach $8.76 billion. The estimate indicates a year-over-year change of +0.7%.
Analysts' assessment points toward 'Geographic Revenue- International' reaching $754.54 million. The estimate suggests a change of +2% year over year.
It is projected by analysts that the 'Comparable store sales - International - YoY change' will reach 0.8%. The estimate compares to the year-ago value of 7.6%.
The collective assessment of analysts points to an estimated 'Number of stores - Total' of 1,067 . Compared to the present estimate, the company reported 1,105 in the same quarter last year.
Based on the collective assessment of analysts, 'Number of stores - Domestic - Total' should arrive at 925 . The estimate compares to the year-ago value of 949 .
The average prediction of analysts places 'Number of stores - International - Total' at 141 . Compared to the current estimate, the company reported 156 in the same quarter of the previous year.
The consensus among analysts is that 'Retail square footage - International - Total' will reach 4 millions of square feet. The estimate is in contrast to the year-ago figure of 4 millions of square feet.
Analysts expect 'Retail square footage - Total' to come in at 39 millions of square feet. Compared to the present estimate, the company reported 40 millions of square feet in the same quarter last year.
The consensus estimate for 'Retail square footage - Domestic - Total' stands at 36 millions of square feet. Compared to the current estimate, the company reported 36 millions of square feet in the same quarter of the previous year.
Analysts forecast 'Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores' to reach 12 . The estimate compares to the year-ago value of 28 .
According to the collective judgment of analysts, 'Number of stores - International - Canada Best Buy Stores' should come in at 129 . The estimate compares to the year-ago value of 128 .
The combined assessment of analysts suggests that 'Number of stores - Domestic - Pacific Sales' will likely reach 20 . The estimate is in contrast to the year-ago figure of 20 .
View all Key Company Metrics for Best Buy here>>>
Over the past month, Best Buy shares have recorded returns of +0.5% versus the Zacks S&P 500 composite's +2.3% change. Based on its Zacks Rank #3 (Hold), BBY will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,613 shares of the technology retailer’s stock, valued at approximately $1,109,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Woodline Partners LP grew its holdings in Best Buy by 40.1% during the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock worth $1,210,000 after acquiring an additional 4,701 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Best Buy by 4.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer’s stock valued at $1,984,000 after purchasing an additional 1,234 shares during the period. Investment Management Corp of Ontario raised its holdings in shares of Best Buy by 127.7% in the 2nd quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer’s stock valued at $872,000 after purchasing an additional 7,288 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of Best Buy by 155.4% in the 2nd quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer’s stock valued at $10,779,000 after purchasing an additional 97,688 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Best Buy by 32.0% in the 2nd quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer’s stock worth $21,051,000 after purchasing an additional 76,102 shares during the period. 80.96% of the stock is owned by institutional investors.
Best Buy Trading Up 0.2% NYSE:BBY opened at $86.07 on Monday. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $91.26. The firm has a 50 day moving average of $82.15 and a 200 day moving average of $70.76. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.47 and a beta of 1.29.
Best Buy (NYSE:BBY – Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.57 earnings per share for the current fiscal year. Best Buy Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 4.5%. Best Buy’s dividend payout ratio is 71.11%.
Insider Activity In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the sale, the chief accounting officer owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. The trade was a 7.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 500,350 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the transaction, the chairman owned 10,930,586 shares in the company, valued at $832,036,206.32. The trade was a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,002,134 shares of company stock worth $77,283,527. Corporate insiders own 0.50% of the company’s stock.
Analyst Upgrades and Downgrades BBY has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of Best Buy from $79.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Wells Fargo & Company boosted their price objective on shares of Best Buy from $65.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. UBS Group restated a “neutral” rating and set a $86.00 target price (up from $85.00) on shares of Best Buy in a report on Friday, May 29th. Truist Financial raised Best Buy from a “hold” rating to a “buy” rating and increased their target price for the company from $81.00 to $95.00 in a research report on Tuesday, August 11th. Finally, DA Davidson reiterated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Best Buy has an average rating of “Hold” and an average price target of $83.10.
View Our Latest Research Report on Best Buy
About Best Buy (Free Report)
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.
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Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
Life and the stock market are both about expectations, and rising above what is expected is often rewarded, while falling short can come with negative consequences. Investors might want to try to capture stronger returns by finding positive earnings surprises.
The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it's no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.
The Zacks Earnings ESP, ExplainedThe Zacks Expected Surprise Prediction, or ESP, works by locking in on the most up-to-date analyst earnings revisions because they can be more accurate than estimates from weeks or even months before the actual release date. The thinking is pretty straightforward: analysts who provide earnings estimates closer to the report are likely to have more information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Best Buy?Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Best Buy (BBY - Free Report) earns a #3 (Hold) right now and its Most Accurate Estimate sits at $1.39 a share, just six days from its upcoming earnings release on August 27, 2026.
By taking the percentage difference between the $1.39 Most Accurate Estimate and the $1.35 Zacks Consensus Estimate, Best Buy has an Earnings ESP of +2.66%. Investors should also know that BBY is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
BBY is just one of a large group of Retail and Wholesale stocks with a positive ESP figure. Abercrombie & Fitch (ANF - Free Report) is another qualifying stock you may want to consider.
Abercrombie & Fitch, which is readying to report earnings on August 26, 2026, sits at a Zacks Rank #2 (Buy) right now. Its Most Accurate Estimate is currently $1.99 a share, and ANF is five days out from its next earnings report.
For Abercrombie & Fitch, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.95 is +2.05%.
BBY and ANF's positive ESP metrics may signal that a positive earnings surprise for both stocks is on the horizon.
Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
Shares of Best Buy Co., Inc. (NYSE:BBY – Get Free Report) have been given a consensus recommendation of “Hold” by the twenty-two analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $83.10.
Several research firms have issued reports on BBY. Wall Street Zen lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Wells Fargo & Company increased their target price on shares of Best Buy from $65.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Weiss Ratings raised Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. BNP Paribas Exane boosted their price target on Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Citigroup upped their price target on Best Buy from $79.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, August 13th.
Read Our Latest Stock Analysis on BBY
Best Buy Stock Down 4.0% Shares of BBY stock opened at $85.67 on Friday. Best Buy has a 12 month low of $55.10 and a 12 month high of $91.26. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The firm has a market cap of $18.06 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.29. The stock has a 50 day moving average of $82.01 and a 200-day moving average of $70.62. Best Buy (NYSE:BBY – Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. Best Buy’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities analysts predict that Best Buy will post 6.56 EPS for the current year.
Best Buy Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.5%. Best Buy’s payout ratio is currently 71.11%.
Insiders Place Their Bets In other Best Buy news, Chairman Richard M. Schulze sold 500,350 shares of Best Buy stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the sale, the chairman owned 10,930,586 shares in the company, valued at $832,036,206.32. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 1,784 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the sale, the chief accounting officer directly owned 21,630 shares in the company, valued at $1,596,294. This trade represents a 7.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,002,134 shares of company stock valued at $77,283,527 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.
Institutional Trading of Best Buy Several institutional investors have recently made changes to their positions in BBY. BlackRock Inc. acquired a new position in shares of Best Buy in the 2nd quarter worth approximately $1,932,812,000. AQR Capital Management LLC boosted its stake in Best Buy by 99.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after buying an additional 3,496,254 shares in the last quarter. Norges Bank bought a new stake in Best Buy in the fourth quarter valued at $174,685,000. Schroder Investment Management Group grew its position in Best Buy by 378.8% in the fourth quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock valued at $207,216,000 after acquiring an additional 2,449,342 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Best Buy during the second quarter worth $174,893,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.
About Best Buy (Get Free Report)
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.
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Wall Street expects a year-over-year increase in earnings on higher revenues when Best Buy (BBY - Free Report) reports results for the quarter ended July 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on August 27, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis consumer electronics retailer is expected to post quarterly earnings of $1.34 per share in its upcoming report, which represents a year-over-year change of +4.7%.
Revenues are expected to be $9.51 billion, up 0.7% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Best Buy?For Best Buy, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.29%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Best Buy will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Best Buy would post earnings of $1.22 per share when it actually produced earnings of $1.28, delivering a surprise of +4.92%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Best Buy appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Best Buy Co Inc (NYSE:BBY)'s second-quarter results are shaping up as a critical test of the increasingly constructive narrative that has built around the stock, according to UBS.
The bank said the market has grown more confident that Best Buy can stabilize its core business, benefit from a healthier innovation cycle and drive earnings growth through newer profit streams, pushing expectations meaningfully higher. UBS framed the key question as no longer whether momentum has improved, but whether it can persist as the setup becomes more demanding.
UBS said the hurdle for a positive stock reaction is meaningfully higher than heading into the first quarter. The bank believes Best Buy should be capable of a healthy quarter despite cycling the Nintendo Switch 2 launch, tax refund benefits and portions of the Windows refresh cycle. But sentiment is much stronger today, with the stock trading at roughly 13 times next-twelve-months earnings versus about 9 times at the end of the first quarter, while the buy-side bar appears to sit at least in the 3% to 4% comp range versus sell-side consensus at 1.2%.
Because the market is already underwriting continued momentum, UBS said August commentary could matter nearly as much as the results themselves. The bank said the market wants to see low-to-mid-single-digit comp growth maintained so far this month, noting a low-single-digit increase could feed a skeptical narrative that demand was pulled forward as consumers bought ahead of price increases.
UBS said the quarter is less about a clean print and more about whether investors can underwrite a cleaner multi-quarter earnings algorithm. A beat narrowly tied to product launches or timing benefits may not be rewarded aggressively, while evidence that core categories are stabilizing and higher-margin revenue streams are scaling would justify the recent multiple re-rating.
The bank pointed to a more diversified demand base, with newer and emerging categories expected to contribute roughly 50 basis points of comp growth this year, an estimate UBS called probably conservative, along with innovation in TVs. Rising memory and component costs have raised questions about price elasticity, though UBS noted consumers often shop to a budget rather than a specific configuration. Full-year guidance implies an average 1.7% comp decline in the back half, assuming second-quarter comp is in line with UBS's 2.4% forecast.
UBS also flagged marketplace and ads as a growing part of the bull case, embedding 30 basis points of gross margin expansion this year. Clearer commentary on scaling these businesses could boost confidence they can support margins over coming quarters, the bank said.
U.S. Global Investors (NASDAQ:GROW) CEO Frank Holmes joined Steve Darling from Proactive to discuss the continued strength of the global travel industry and what the resilient demand environment could mean for airline, hotel and travel-related stocks.
Holmes said the global travel sector continues to show strong momentum, with Air Canada (TSX:AC.B) indicating that the fall travel season could rank among its strongest ever. He pointed to a resurgence in corporate travel and a reduction in traditional seasonality as important drivers, suggesting that demand is becoming more consistent throughout the year.
Holmes highlighted Delta Air Lines as a classic "growth at a reasonable price," or GARP, investment opportunity. He pointed to Berkshire Hathaway's decision to significantly increase its position in Delta, following its earlier exit during the COVID-19 pandemic. According to Holmes, Berkshire increased its ownership stake by approximately 44% to about 8.7%.
Despite airline ticket prices rising roughly 17% year over year, Holmes said business travel demand has remained resilient, suggesting that higher fares have not yet materially weakened corporate travel activity.
From a valuation perspective, Holmes believes airline stocks remain relatively inexpensive compared with the broader market. He noted that airlines are trading at approximately one-third of the price-to-earnings multiples of S&P 500 companies, potentially leaving room for positive earnings surprises and further share-price appreciation.
Holmes also discussed the relationship between oil prices and airline stocks, highlighting a pattern he has observed in the market. When crude oil prices rise above their 50-day moving average, airline shares often come under pressure because of higher fuel costs. Conversely, when oil prices fall back below the 50-day average, airline stocks have historically tended to strengthen and reach new highs.
The strength of the travel recovery is also evident internationally. Holmes said Europe is capturing roughly one-third of global leisure travel spending this summer, creating significant economic benefits for luxury retailers, restaurants and hospitality businesses across Southern Europe.
Meanwhile, CoStar data through early August continues to show another strong year-over-year performance for the U.S. hotel industry, reinforcing Holmes' view that travel remains a powerful component of the global consumer economy.
Overall, Holmes believes the combination of resilient corporate travel, strong leisure demand, improving year-round travel patterns and relatively low airline valuations could continue to create opportunities for investors across the travel and hospitality sectors.
Best Buy Co Inc (NYSE:BBY)'s second-quarter results are shaping up as a critical test of the increasingly constructive narrative that has built around the stock, according to UBS.
The bank said the market has grown more confident that Best Buy can stabilize its core business, benefit from a healthier innovation cycle and drive earnings growth through newer profit streams, pushing expectations meaningfully higher. UBS framed the key question as no longer whether momentum has improved, but whether it can persist as the setup becomes more demanding.
UBS said the hurdle for a positive stock reaction is meaningfully higher than heading into the first quarter. The bank believes Best Buy should be capable of a healthy quarter despite cycling the Nintendo Switch 2 launch, tax refund benefits and portions of the Windows refresh cycle. But sentiment is much stronger today, with the stock trading at roughly 13 times next-twelve-months earnings versus about 9 times at the end of the first quarter, while the buy-side bar appears to sit at least in the 3% to 4% comp range versus sell-side consensus at 1.2%.
Because the market is already underwriting continued momentum, UBS said August commentary could matter nearly as much as the results themselves. The bank said the market wants to see low-to-mid-single-digit comp growth maintained so far this month, noting a low-single-digit increase could feed a skeptical narrative that demand was pulled forward as consumers bought ahead of price increases.
UBS said the quarter is less about a clean print and more about whether investors can underwrite a cleaner multi-quarter earnings algorithm. A beat narrowly tied to product launches or timing benefits may not be rewarded aggressively, while evidence that core categories are stabilizing and higher-margin revenue streams are scaling would justify the recent multiple re-rating.
The bank pointed to a more diversified demand base, with newer and emerging categories expected to contribute roughly 50 basis points of comp growth this year, an estimate UBS called probably conservative, along with innovation in TVs. Rising memory and component costs have raised questions about price elasticity, though UBS noted consumers often shop to a budget rather than a specific configuration. Full-year guidance implies an average 1.7% comp decline in the back half, assuming second-quarter comp is in line with UBS's 2.4% forecast.
UBS also flagged marketplace and ads as a growing part of the bull case, embedding 30 basis points of gross margin expansion this year. Clearer commentary on scaling these businesses could boost confidence they can support margins over coming quarters, the bank said.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Best Buy (BBY - Free Report) Founded in 1966 and headquartered in Richfield, MN, Best Buy Co., Inc. (BBY - Free Report) is one of North America's largest specialty retailers of consumer electronics, computing products, appliances, entertainment products, mobile phones and technology-related services. The company operates as an omnichannel retailer, combining its extensive store network with e-commerce capabilities to provide customers with a seamless shopping experience across physical and digital channels.
BBY is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 13; value investors should take notice.
For fiscal 2027, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.00 to $6.56 per share. BBY boasts an average earnings surprise of +5.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, BBY should be on investors' short list.
Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it's no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.
The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
Bringing together a positive earnings ESP alongside a Zacks Rank #3 (Hold) or better has helped stocks report a positive earnings surprise 70% of the time. Furthermore, by using these parameters, investors have seen 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a #3 (Hold) ranking, which is most stocks covered at 60%, are expected to perform in-line with the broader market. But stocks that fall into the #2 (Buy) and #1 (Strong Buy) ranking, or the top 15% and top 5% of stocks, respectively, should outperform the market. Strong Buy stocks should outperform more than any other rank.
Should You Consider Home Depot?Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Home Depot (HD - Free Report) earns a #3 (Hold) right now and its Most Accurate Estimate sits at $4.76 a share, just six days from its upcoming earnings release on August 18, 2026.
Home Depot's Earnings ESP sits at +1.09%, which, as explained above, is calculated by taking the percentage difference between the $4.76 Most Accurate Estimate and the Zacks Consensus Estimate of $4.71. HD is also part of a large group of stocks that boast a positive ESP. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
HD is one of just a large database of Retail and Wholesale stocks with positive ESPs. Another solid-looking stock is Best Buy (BBY - Free Report) .
Best Buy is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on August 27, 2026. BBY's Most Accurate Estimate sits at $1.36 a share 15 days from its next earnings release.
Best Buy's Earnings ESP figure currently stands at +1.29% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.34.
HD and BBY's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Truist Securities analyst Scot Ciccarelli upgraded Best Buy Co Inc (NYSE:BBY) from Hold to Buy and raised the price target from $81 to $95. Best Buy closed at $82.43 on Monday. See how other analysts view this stock. B of A Securities analyst Matthew Griffiths upgraded BCE Inc (NYSE:BCE) from Underperform to Buy and boosted the price target from $24.5 to $27. BCE shares closed at $22.54 on Monday. See how other analysts view this stock. BTIG analyst Mark Massaro upgraded Alpha Teknova Inc (NASDAQ:TKNO) from Neutral to Buy and announced a price target of $8. Alpha Teknova closed at $6.72 on Monday. See how other analysts view this stock. Barclays analyst Adrienne Yih upgraded Abercrombie & Fitch Co (NYSE:ANF) from Underweight to Equal-Weight and raised the price target from $78 to $114. Abercrombie & Fitch shares closed at $118.53 on Monday. See how other analysts view this stock. Citigroup analyst Daniel Grosslight upgraded Agilon Health Inc (NYSE:AGL) from Sell to Neutral and raised the price target from $105 to $115. Agilon Health closed at $96.78 on Monday. See how other analysts view this stock. Considering buying BBY stock? Here’s what analysts think:
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Best Buy Co Inc (NYSE:BBY)'s leadership reshuffle expanded with the unexpected departure of Chief Marketing Officer Jennie Weber, Jefferies analysts have highlighted while reiterating their ‘Hold’ rating on the retailer.
Jefferies maintained its $85 price target on Best Buy, which is currently trading at about $82.
The firm wrote that Weber’s departure came as a surprise given a July 14 company announcement that she would report to incoming CEO Jason Bonfig following a series of leadership role reassignments.
Weber will be replaced by current Chief Creative Officer Marty Senn, who joined Best Buy in January. During her tenure as CMO, Weber oversaw marketing, creative, media, membership and customer insights. Jefferies noted that she relaunched the Best Buy brand in 2024 around a campaign focused on the benefits of technology for consumers.
The firm also highlighted Weber’s role in establishing Geek Squad as a key part of Best Buy’s customer service strategy, revamping the retailer’s rewards points program and developing Best Buy Ads into a retail media network. Jefferies also noted that Weber oversaw the retailer’s in-house creative agency and launched the Best Buy Creator Program, which has grown to more than 2,000 creators.
Jefferies wrote that Bonfig’s incoming leadership could bring a fresh perspective to Best Buy, particularly given his vendor relationships and focus on alternative profit streams such as Best Buy Ads and the company’s third-party marketplace.
The firm also viewed incoming CFO Bramman as a strong replacement for recently departed CFO Bilunas, citing her previous public-company CFO experience in retail and consumer businesses.
However, Jefferies wrote that its concern is the number of leadership roles that have been reassigned over a relatively short period, with changes to the marketing organization now adding to the reshuffling.
Looking ahead, Jefferies wrote that Best Buy Ads and the third-party marketplace could support EBIT margins over the longer term, while replacement cycles in consumer electronics, including televisions, could also provide support.
In the near term, however, the firm sees potential pressure on demand in categories including PCs and mobile devices from rising memory costs, which could contribute to category declines. Jefferies wrote that this could result in a roughly flat comparable sales performance next year, below the Street expectation of more than 1.5% growth, with subsequent SG&A deleverage potentially offsetting gross-margin benefits from alternative profit streams.
Best Buy Co Inc (NYSE:BBY)'s leadership reshuffle expanded with the unexpected departure of Chief Marketing Officer Jennie Weber, Jefferies analysts have highlighted while reiterating their ‘Hold’ rating on the retailer.
Jefferies maintained its $85 price target on Best Buy, which is currently trading at about $82.
The firm wrote that Weber’s departure came as a surprise given a July 14 company announcement that she would report to incoming CEO Jason Bonfig following a series of leadership role reassignments.
Weber will be replaced by current Chief Creative Officer Marty Senn, who joined Best Buy in January. During her tenure as CMO, Weber oversaw marketing, creative, media, membership and customer insights. Jefferies noted that she relaunched the Best Buy brand in 2024 around a campaign focused on the benefits of technology for consumers.
The firm also highlighted Weber’s role in establishing Geek Squad as a key part of Best Buy’s customer service strategy, revamping the retailer’s rewards points program and developing Best Buy Ads into a retail media network. Jefferies also noted that Weber oversaw the retailer’s in-house creative agency and launched the Best Buy Creator Program, which has grown to more than 2,000 creators.
Jefferies wrote that Bonfig’s incoming leadership could bring a fresh perspective to Best Buy, particularly given his vendor relationships and focus on alternative profit streams such as Best Buy Ads and the company’s third-party marketplace.
The firm also viewed incoming CFO Bramman as a strong replacement for recently departed CFO Bilunas, citing her previous public-company CFO experience in retail and consumer businesses.
However, Jefferies wrote that its concern is the number of leadership roles that have been reassigned over a relatively short period, with changes to the marketing organization now adding to the reshuffling.
Looking ahead, Jefferies wrote that Best Buy Ads and the third-party marketplace could support EBIT margins over the longer term, while replacement cycles in consumer electronics, including televisions, could also provide support.
In the near term, however, the firm sees potential pressure on demand in categories including PCs and mobile devices from rising memory costs, which could contribute to category declines. Jefferies wrote that this could result in a roughly flat comparable sales performance next year, below the Street expectation of more than 1.5% growth, with subsequent SG&A deleverage potentially offsetting gross-margin benefits from alternative profit streams.
On August 06, 2026, Best Buy Co Inc (BBY) shares fell 5.3%, bringing the current price to $80.02. The stock has seen a 52-week trading range between $55.10 and
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What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
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VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
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Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Best Buy (BBY - Free Report) Founded in 1966 and headquartered in Richfield, MN, Best Buy Co., Inc. (BBY - Free Report) is one of North America's largest specialty retailers of consumer electronics, computing products, appliances, entertainment products, mobile phones and technology-related services. The company operates as an omnichannel retailer, combining its extensive store network with e-commerce capabilities to provide customers with a seamless shopping experience across physical and digital channels.
BBY is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Retail-Wholesale stock. BBY has a Momentum Style Score of A, and shares are up 8.2% over the past four weeks.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2027. The Zacks Consensus Estimate has increased $0.00 to $6.56 per share. BBY boasts an average earnings surprise of +5.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, BBY should be on investors' short list.
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Best Buy (BBY - Free Report) , which belongs to the Zacks Retail - Consumer Electronics industry.
This consumer electronics retailer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 5.08%.
For the most recent quarter, Best Buy was expected to post earnings of $1.22 per share, but it reported $1.28 per share instead, representing a surprise of 4.92%. For the previous quarter, the consensus estimate was $2.48 per share, while it actually produced $2.61 per share, a surprise of 5.24%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Best Buy. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Best Buy has an Earnings ESP of +1.29% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on August 27, 2026.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
Stocks with a #3 (Hold) ranking, which is most stocks covered at 60%, are expected to perform in-line with the broader market. But stocks that fall into the #2 (Buy) and #1 (Strong Buy) ranking, or the top 15% and top 5% of stocks, respectively, should outperform the market. Strong Buy stocks should outperform more than any other rank.
Should You Consider Best Buy?Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Best Buy (BBY - Free Report) earns a #3 (Hold) right now and its Most Accurate Estimate sits at $1.36 a share, just 22 days from its upcoming earnings release on August 27, 2026.
BBY has an Earnings ESP figure of +1.29%, which, as explained above, is calculated by taking the percentage difference between the $1.36 Most Accurate Estimate and the Zacks Consensus Estimate of $1.34. Best Buy is one of a large database of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
BBY is one of just a large database of Retail and Wholesale stocks with positive ESPs. Another solid-looking stock is Amazon (AMZN - Free Report) .
Amazon, which is readying to report earnings on October 29, 2026, sits at a Zacks Rank #1 (Strong Buy) right now. Its Most Accurate Estimate is currently $2.04 a share, and AMZN is 85 days out from its next earnings report.
Amazon's Earnings ESP figure currently stands at +0.84% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $2.03.
Because both stocks hold a positive Earnings ESP, BBY and AMZN could potentially post earnings beats in their next reports.
Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Considering buying BBY stock? Here’s what analysts think:
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MINNEAPOLIS--(BUSINESS WIRE)--Best Buy Co., Inc. (NYSE: BBY) announced today the appointment of Anne Bramman as executive vice president and chief financial officer, effective Aug. 19. Bramman joins Best Buy as a seasoned public company executive with more than 30 years of leadership experience across finance, operations, strategy and transformation. In her new role, she will lead Best Buy's global finance organization and help drive the company's strategic priorities in partnership with incomi.
Best Buy logo is seen in this illustration taken, February 11, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesAug 3 (Reuters) - Best Buy (BBY.N), opens new tab on Monday named Anne Bramman as its new CFO, effective August 19, as the consumer electronics retailer undergoes a leadership transition.
Here are more details:
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Bramman takes over from Matt Bilunas; Best Buy announced in June that Bilunas would step down as CFO.
She brings more than 30 years of finance experience and most recently served as chief financial officer of consumer insights and analytics firm Circana.
Bramman is set to join a new executive leadership team under Jason Bonfig, who will succeed current CEO Corie Barry.
Best Buy, which operates more than 1,000 stores across North America, has been working to revive growth by expanding online sales, services and advertising as competition intensifies across the sector.
The company beat analyst expectations for the three months ended May 3, helped by steady demand for AI-powered smartphones and gaming consoles as well as growth in its ads and marketplace channels. It forecast second-quarter sales above Wall Street estimates.
Reporting by Koyena Das in Bengaluru; Editing by Diti Pujara
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Essential Partners LLC trimmed its stake in Best Buy Co., Inc. (NYSE:BBY – Free Report) by 91.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,185 shares of the technology retailer’s stock after selling 13,077 shares during the quarter. Essential Partners LLC’s holdings in Best Buy were worth $76,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Krane Funds Advisors LLC raised its position in shares of Best Buy by 3.0% in the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock worth $346,000 after purchasing an additional 151 shares during the last quarter. Applied Finance Capital Management LLC boosted its stake in Best Buy by 3.8% in the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after purchasing an additional 157 shares in the last quarter. J. Team Financial Inc. grew its position in Best Buy by 4.2% during the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock valued at $285,000 after purchasing an additional 171 shares during the last quarter. UMB Bank n.a. grew its position in Best Buy by 6.2% during the 4th quarter. UMB Bank n.a. now owns 3,158 shares of the technology retailer’s stock valued at $211,000 after purchasing an additional 185 shares during the last quarter. Finally, Arjuna Capital increased its stake in Best Buy by 1.0% during the 4th quarter. Arjuna Capital now owns 20,673 shares of the technology retailer’s stock valued at $1,384,000 after purchasing an additional 195 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Best Buy In other news, CAO Mathew Watson sold 1,784 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $73.80, for a total transaction of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at $1,596,294. This represents a 7.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the transaction, the chairman owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. This trade represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,002,134 shares of company stock worth $77,283,527 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.
Best Buy Price Performance BBY opened at $86.19 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The stock has a market capitalization of $18.17 billion, a P/E ratio of 15.96, a P/E/G ratio of 2.29 and a beta of 1.29. The company’s 50-day simple moving average is $78.41 and its two-hundred day simple moving average is $68.83. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $91.26.
Best Buy (NYSE:BBY – Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter last year, the firm posted $1.15 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.56 EPS for the current year.
Best Buy Announces Dividend The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were issued a $0.96 dividend. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 4.5%. Best Buy’s dividend payout ratio (DPR) is currently 71.11%.
Analyst Ratings Changes Several research analysts have issued reports on the stock. Jefferies Financial Group upped their target price on shares of Best Buy from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Loop Capital cut shares of Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price target on the stock. in a report on Monday, July 13th. Evercore raised their price target on shares of Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. Wall Street Zen lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Wells Fargo & Company upped their price objective on Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.50.
Check Out Our Latest Research Report on Best Buy
About Best Buy (Free Report)
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.
See Also Five stocks we like better than Best Buy 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story AbbVie Quietly Solved Its Biggest Problem—Now What? Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade Strategy’s Structural Strength: Hidden in a $8 Billion Illusion Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY – Free Report).
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Consumer electronics retailer Best Buy is testing out a new format as it tries to steady the business and boost sales growth. It's opening new, smaller-scale stores this summer in markets about half the scale of its traditional locations.
Best Buy is at a critical juncture as the consumer electronics retailer aims to revitalize its performance under incoming CEO Jason Bonfig, who spoke exclusively with CNBC about his strategy for the company.
The company has been struggling with slumping sales over the past few years, which it has attributed to lower consumer confidence, less tech innovation and a slower housing market. In an effort to refresh its products, improve the customer experience and drive more sales, the retailer announced Bonfig will succeed current CEO Corie Barry this fall.
As he prepares to take the helm, Bonfig has said he's focused on four key pillars: advancing Best Buy as a retail and technology company, improving its reach, enhancing the customer experience and focusing on being a human-powered company. Bonfig has also said he's looking into ways to capitalize on the artificial intelligence boom and Best Buy's spot in that next chapter.
This week, Best Buy opened two new stores, one in Jonesboro, Arkansas, and one in Cape Cod, Massachusetts, which Bonfig told CNBC illustrates his strategy as he prioritizes returning the company to long-term and sustainable growth.
"What we're finding is that there are markets that we just can't be in with a traditional size Best Buy store, but they're markets that absolutely make sense for Best Buy from a reach perspective," Bonfig said.
To lean into those markets, the company is opening new small-format stores, ranging from 12,000 to 15,000 square feet, compared to its medium-format stores, which range from 20,000 to 25,000 square feet. Some of its largest stores, including its flagship location in New York City, exceed 40,000 square feet.
The new small stores tap into Bonfig's priority of expanding the company's reach, he said.
"We also know that when we put a store close to a customer, it doesn't just change the customers' behavior in the frequency of the visits of the store … it also changes their behavior digitally as well," Bonfig said.
When Best Buy joins a new, smaller community, he said, the company has found more customers physically go to a store for the first time, but they also use the app and digital channels as well. The Jonesboro store marks Best Buy's return to the town after a tornado destroyed its previous location.
"It's a great example of a vibrant market, a place where customers are interested in our brand, but not a market that could support a 30,000- or 35,000-square-foot store," Bonfig said. "An 18,000-square-foot store allows us to have the best of all of our different categories and meet the needs at that particular location."
The second opening, in Cape Cod, is slightly larger than Best Buy's normal medium-format stores, coming in at 28,000 square feet, but Bonfig said it's another example of finding "the right size store in the right location in the right node."
He added that Best Buy Canada, which can often do things faster than its U.S. counterpart, has been after the small-format store for "an extended period of time" and has seen success with locations as small as 7,000 square feet.
Still, Bonfig emphasized that the small stores are not a replacement for its more typical-format locations.
"It's actually an enhancement of what we're doing today," he said. "But it actually allows us to reach more customers and more markets that we just were not in before."
Trying to turn the pageOver the past five years, Best Buy has seen its stock sink roughly 20% after hitting its peak in late 2021, trading at $138 per share.
For the current fiscal year, Best Buy has said it expects comparable sales in the range of a decline of 1% to an increase of 1%. Though its most recent quarter outperformed Wall Street expectations, it came on the heels of years of declines, like the third fiscal quarter of 2026, when Best Buy reported net income of $140 million, down from $273 million the year prior.
The retailer was also hit by tariffs and is navigating the soaring price of memory chips, which have caused the costs of some consumer electronics to rise.
Bonfig said he attributes Best Buy's recent stagnant performance to a general pull-forward behavior from consumers during Covid that created an unprecedented demand curve that led to a lull. Like home improvement companies, Best Buy saw outsized spending as shoppers were stuck at home and looking to upgrade.
He said Best Buy saw that behavior reset the technology life cycle for a lot of consumers while also forcing vendors to pivot from innovation to production.
"I wouldn't say that Best Buy's lost its momentum," he told CNBC. "I think there's been a very interesting couple years, or maybe more than a couple years, in the market where there was an interesting demand curve where everything was pulled forward."
As he prepares to take the reins of the company, Bonfig said he's focused on improving the customer experience, including upgrading TV selections and working with customers to replace their existing TVs.
Bonfig said he'll define success during his tenure as CEO by the customer response.
He also said the company is leaning into AI for customers and the corporate side of the business, adding that Best Buy is actively investing in new products like Meta's glasses. Best Buy also has an AI tool for customers to use, in addition to partnerships with OpenAI and Google.
"Agentic commerce and commerce through AI platforms is happening today," Bonfig said. "We're seeing traffic there, and we want to make sure that the Best Buy experience is represented."
Still, he added, he expects AI to be an enhancement to the human power behind Best Buy.
And, ultimately, as he looks to step into his new role, Bonfig said he still believes in the core strength of Best Buy despite its recent stagnation.
"Corie had an amazing strategy, and my strategy is built on top of that," Bonfig said. "There is a tremendous amount of momentum."
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Stock to Watch: Best Buy (BBY - Free Report) Founded in 1966 and headquartered in Richfield, MN, Best Buy Co., Inc. (BBY - Free Report) is one of North America's largest specialty retailers of consumer electronics, computing products, appliances, entertainment products, mobile phones and technology-related services. The company operates as an omnichannel retailer, combining its extensive store network with e-commerce capabilities to provide customers with a seamless shopping experience across physical and digital channels.
BBY is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 13.03; value investors should take notice.
Nine analysts revised their earnings estimate higher in the last 60 days for fiscal 2027, while the Zacks Consensus Estimate has increased $0.06 to $6.56 per share. BBY also boasts an average earnings surprise of +5.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, BBY should be on investors' short list.
First Trust Advisors LP raised its stake in Best Buy Co., Inc. (NYSE:BBY – Free Report) by 53.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 905,844 shares of the technology retailer’s stock after buying an additional 314,046 shares during the period. First Trust Advisors LP owned approximately 0.43% of Best Buy worth $58,155,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Best Buy by 99.8% during the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock worth $525,120,000 after acquiring an additional 3,496,254 shares in the last quarter. Norges Bank acquired a new stake in shares of Best Buy during the fourth quarter worth $174,685,000. Schroder Investment Management Group lifted its holdings in shares of Best Buy by 378.8% during the fourth quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock valued at $207,216,000 after purchasing an additional 2,449,342 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Best Buy by 104.1% during the fourth quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock valued at $135,685,000 after purchasing an additional 1,030,544 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Best Buy by 293.6% in the 4th quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer’s stock valued at $70,464,000 after purchasing an additional 785,294 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.
Best Buy Trading Up 1.0% Shares of NYSE:BBY opened at $85.26 on Friday. The firm has a fifty day moving average of $75.59 and a two-hundred day moving average of $68.19. The firm has a market capitalization of $17.97 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 2.27 and a beta of 1.30. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $87.35. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.
Best Buy (NYSE:BBY – Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the company posted $1.15 EPS. Best Buy’s revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.
Best Buy Announces Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a $0.96 dividend. The ex-dividend date was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 4.5%. Best Buy’s payout ratio is 71.11%.
Analysts Set New Price Targets A number of equities analysts recently weighed in on BBY shares. Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Morgan Stanley upped their price objective on shares of Best Buy from $72.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Weiss Ratings upgraded shares of Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. DA Davidson reissued a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research report on Monday, June 22nd. Finally, Wedbush boosted their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $79.50.
View Our Latest Stock Report on BBY
Insider Transactions at Best Buy In other news, Chairman Richard M. Schulze sold 500,350 shares of Best Buy stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the completion of the sale, the chairman directly owned 10,930,586 shares in the company, valued at $832,036,206.32. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the sale, the chief accounting officer owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,002,134 shares of company stock worth $77,283,527 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.
About Best Buy (Free Report)
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.
Recommended Stories Five stocks we like better than Best Buy Telecom Earnings Reveal a Sector That Finally Looks Healthier Defense Earnings Show Readiness Now and Modernization Ahead Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off MarketBeat Week in Review – 07/20- 07/24 Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY – Free Report).
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Richard M. Schulze, the founder and Chairman Emeritus of Best Buy Co., Inc. (BBY +1.62%), sold 900,000 shares on July 13 and July 14, 2026, according to the SEC Form 4 filing.
Transaction summaryMetricValueTransaction value~$74.0 millionShares sold (indirectly held)900,000Post-transaction shares (indirectly held)11,600,000Post-transaction value$976.89 millionTransaction value based on SEC Form 4 weighted average sale price ($82.21); post-transaction value based on July 14, 2026 market close ($83.98).
Key questionsWhat was the structural framework for this transaction?
The disposition was executed via a Rule 10b5-1 plan adopted on June 12, 2026, and was from indirect ownership through a revocable trust.How does this sale align with the company's recent equity performance?
As of the July 14, 2026 transaction date, the company has generated a 12-month total return of 18%, providing a valuation context for the exit at a weighted average price of $82.21 per share.What is the scale of the insider's remaining equity exposure?
Following this 7% reduction in holdings, the reporting person maintains an indirect interest in ~11.6 million shares, which constitutes 6% of the company's total outstanding shares and carries a market value of $976.89 million as of the July 14, 2026 market close.Company OverviewMetricValueShare Price (as of market close 2026-07-14)$83.98Market Capitalization$17.7 billionRevenue (TTM)$41.9 billionNet Income (TTM)$1.1 billionCompany SnapshotBest Buy operates as a comprehensive technology retailer offering computing devices, mobile phones, networking equipment, tablets, smartwatches, and related peripherals, with significant revenue generated through direct product sales and carrier commissions on mobile phone services.The company generates revenue through a dual-segment business model encompassing domestic and international operations, leveraging both physical retail locations and digital channels to serve technology-focused consumers across North America.Best Buy primarily targets technology-conscious consumers and households seeking consumer electronics, computing solutions, and mobile devices, with a customer base spanning both individual consumers and business segments across the United States and Canada.Best Buy Co., Inc. is a leading specialty retailer in the consumer technology sector with approximately 82,000 employees and a market capitalization of $17.7 billion. The company maintains a substantial revenue base of $41.9 billion on a TTM basis, demonstrating its significant scale within the specialty retail industry.
Best Buy's competitive positioning is anchored by its extensive product portfolio, omnichannel retail presence, and established relationships with major technology manufacturers and wireless carriers.
What this transaction means for investorsThe July 13 and July 14 sale of Best Buy stock by company founder and Chairman Emeritus Richard Schulze came at a time when shares were soaring. The stock eventually hit a 52-week high of $87.35 on July 16.
Even so, Schulze’s sale was a non-discretionary transaction executed as part of a pre-established Rule 10b5-1 plan. Such plans allow insiders to sell shares at predetermined times to avoid concerns of trading on non-public information.
Moreover, Schulze retained over 11 million shares post-disposition, distributed across a revocable trust, a 401(k) plan, an IRA, a limited partnership, a spousal grantor retained annuity trust (GRAT), his spouse, and a spouse irrevocable trust. His substantial equity stake in the company he founded suggests Schulze remains bullish on the stock.
Best Buy shares are up thanks to solid business performance. The company reported $8.9 billion in revenue for its fiscal first quarter ended May 2, up from $8.8 billion in the prior year. In addition, its fiscal Q1 diluted earnings per share skyrocketed to $1.31 compared to $0.95 in the previous year.
