Valued at $19.5 billion by market cap, Best Buy Co., Inc. (BBY) is a leading specialty retailer of consumer electronics, offering a wide range of products, including computers, smartphones, televisions, home appliances, gaming systems, and smart-home devices. Headquartered in Richfield, Minnesota, the company operates retail stores and e-commerce platforms across the United States and Canada.
The retail giant is expected to announce its fiscal third-quarter earnings for 2027 before the market opens on Tuesday, Nov. 24. Ahead of the event, analysts expect BBY to report a profit of $1.48 per share on a diluted basis, up 5.7% from $1.40 per share in the year-ago quarter. The company has consistently surpassed Wall Street's EPS estimates in its last four quarterly reports.
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For the current year, analysts expect BBY to report EPS of $6.81, up 5.9% from $6.43 in fiscal 2026. Its EPS is expected to rise 6.5% year over year to $7.25 in fiscal 2028.
BBY stock has outperformed the S&P 500 Index's ($SPX) 12.4% gains over the past 52 weeks, with shares up 15.6% during this period. Similarly, it notably outpaced the State Street Consumer Discretionary Select Sector SPDR ETF's (XLY) 4.4% dip over the same time frame.
On Sept. 23, Best Buy announced an expanded multiyear partnership with Amazon.com, Inc. (AMZN) to unlock new advertising opportunities across its Insignia TVs. Beginning in February 2027, Best Buy Ads will use Amazon's AI-powered advertising technology to help brands optimize campaigns and measure results, opening up an additional growth avenue for its advertising business.
Analysts' consensus opinion on BBY stock is cautious, with a "Hold" rating overall. Out of 24 analysts covering the stock, four advise a "Strong Buy" rating, 18 give a "Hold," one recommends a "Moderate Sell," and one advocates a "Strong Sell." While BBY currently trades above the mean price target of $88.50, the Street-high target of $106 implies a premium of 9.3% from the current market prices.
On the date of publication, Kritika Sarmah did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
