What is Wedbush’s Forecast for Best Buy FY2028 Earnings?

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

Several other analysts have also issued reports on BBY. Wells Fargo & Company restated an “equal weight” rating on shares of Best Buy in a research note on Friday. Citigroup decreased their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley reiterated an “equal weight” rating on shares of Best Buy in a research note on Friday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $110.00 price objective on shares of Best Buy in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Best Buy Trading Down 3.5 %

Shares of NYSE:BBY opened at $86.73 on Tuesday. Best Buy has a 52-week low of $69.29 and a 52-week high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The company has a market capitalization of $18.54 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company has a 50-day simple moving average of $86.43 and a 200 day simple moving average of $90.69.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by company insiders.

Institutional Trading of Best Buy

Several large investors have recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in Best Buy by 5.2% during the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock worth $218,000 after purchasing an additional 125 shares during the last quarter. Mariner LLC raised its holdings in shares of Best Buy by 0.3% during the 4th quarter. Mariner LLC now owns 43,215 shares of the technology retailer’s stock worth $3,708,000 after buying an additional 129 shares in the last quarter. LRI Investments LLC lifted its position in shares of Best Buy by 36.3% during the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer’s stock worth $45,000 after buying an additional 141 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of Best Buy by 19.7% during the 4th quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after buying an additional 142 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in Best Buy by 5.0% in the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock valued at $258,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.