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Best Buy Co., Inc. (BBY), headquartered in Richfield, Minnesota, sells consumer electronics, home office products, entertainment software, appliances, and related services through its retail stores and website. Valued at $18.44 billion by market cap, the company retails technology products through its 1,000 stores in the U.S. and Canada. The consumer electronics retailer is expected to announce its fiscal second-quarter earnings for 2025 before the market opens on Thursday, Aug. 29.
Ahead of the event, analysts expect BBY to report a profit of $1.16 per share on a diluted basis, down 4.9% from $1.22 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For fiscal 2025, analysts expect BBY to report EPS of $6.11, down 4.1% from $6.37 in fiscal 2024.
BBY stock has underperformed the S&P 500’s ($SPX) 19.2% gains over the past 52 weeks, with shares up 2.6% during this period. Similarly, it underperformed the S&P 500 Cons Disc Sector SPDR’s (XLY) 7.5% gains over the same time frame.
On Jun. 18, BBY shares rose nearly 1% after the company announced that it would train its 30,000 employees to sell and repair Microsoft Corporation’s (MSFT) Copilot+ PCs, the firm’s latest AI Windows laptops.
On Jun. 17, BBY shares closed up more than 4% after UBS upgraded the stock to Buy from Neutral with a price target of $106.
On May 30, BBY shares closed up more than 13% after the company reported its Q1 results. Its adjusted EPS was $1.20, beating the consensus estimates of $1.08. The company’s revenue of $8.85 billion fell short of Wall Street estimates of $8.96 billion. BBY expects its full-year EPS to be between $5.75 and $6.20 and revenue between $41.3 billion and $42.6 billion. For Q2, the company expects comparable sales to decline by approximately 3% and its non-GAAP operating income rate to be approximately 3.5%.
Analysts’ consensus opinion on BBY stock is bullish, with a “Moderate Buy” rating overall. Out of 21 analysts covering the stock, 10 advise a “Strong Buy” rating, 10 recommend a “Hold” rating, and one gives a “Moderate Sell.” The average analyst price target for BBY is $89.10, indicating a 4.2% potential upside from the current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
