Best Buy Likely To Report Lower Q4 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Best Buy Co., Inc. BBY is expected to release earnings results for its fourth quarter, before the opening bell on Feb. 29, 2024.

Analysts expect the Richfield, Minnesota-based company to report quarterly earnings at $2.51 per share, down from year-ago earnings of $2.61 per share. Best Buy is projected to report quarterly revenue of $14.53 billion, compared to $14.73 billion in the year-earlier quarter, according to data from Benzinga Pro.

Last month, Best Buy Canada and Bell Canada entered into a strategic partnership to operate 165 consumer electronics retail stores in Canada.

Best Buy shares gained 0.8% to close at $79.68 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating with a $75 price target on Feb. 26, 2024. This analyst has an accuracy rate of 74%.
• Wedbush analyst Seth Basham maintained a Neutral rating and raised the price target from $70 to $75 on Jan. 24, 2024. This analyst has an accuracy rate of 73%.
• Evercore ISI Group analyst Greg Melich maintained an In-Line rating and cut the price target from $75 to $70 on Nov. 22, 2023. This analyst has an accuracy rate of 72%.
• Truist Securities analyst Scot Ciccarelli maintained a Hold rating and slashed the price target from $74 to $68 on Nov. 22, 2023. This analyst has an accuracy rate of 79%.
• UBS analyst Michael Lasser maintained a Neutral rating and lowered the price target from $85 to $76 on Nov. 13, 2023. This analyst has an accuracy rate of 81%.

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