Albertsons Companies (NYSE:ACI) Issues FY 2024 Earnings Guidance

Albertsons Companies (NYSE:ACI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.200-2.300 for the period, compared to the consensus estimate of 2.260. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Melius upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, October 21st. Royal Bank of Canada dropped their price target on shares of Albertsons Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.25 price objective on shares of Albertsons Companies in a research report on Friday, October 11th. Tigress Financial reissued a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a report on Monday, October 21st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.14.

Albertsons Companies Price Performance

ACI traded up $0.06 during trading on Wednesday, reaching $18.57. 10,821,789 shares of the stock were exchanged, compared to its average volume of 3,074,095. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.12 and a beta of 0.51. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $23.47. The business’s 50 day moving average price is $18.85 and its two-hundred day moving average price is $19.40.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Albertsons Companies will post 2.13 earnings per share for the current year.

Albertsons Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, October 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.58%. Albertsons Companies’s payout ratio is currently 28.07%.

Albertsons Companies Company Profile

Albertsons Companies, Inc, through its subsidiaries, engages in the operation of food and drug stores in the United States. The company’s food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. It also manufactures and processes food products for sale in stores.