Americold Realty Trust (NYSE:COLD) Releases Quarterly Earnings Results, Misses Expectations By $0.54 EPS

Americold Realty Trust (NYSE:COLD) announced its quarterly earnings results on Thursday. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.54), Zacks reports. The firm had revenue of $660.96 million for the quarter, compared to analysts’ expectations of $653.74 million. Americold Realty Trust had a negative return on equity of 8.55% and a negative net margin of 12.17%. Americold Realty Trust’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Americold Realty Trust updated its FY24 guidance to $1.44-1.50 EPS and its FY 2024 guidance to 1.440-1.500 EPS.

Americold Realty Trust Price Performance

Shares of NYSE COLD traded down $0.27 during trading on Friday, hitting $29.06. The company had a trading volume of 1,751,235 shares, compared to its average volume of 2,407,844. The company has a market cap of $8.25 billion, a P/E ratio of -24.84, a PEG ratio of 2.14 and a beta of 0.59. Americold Realty Trust has a 52 week low of $21.87 and a 52 week high of $33.90. The business’s 50-day moving average is $27.31 and its 200 day moving average is $25.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16.

Americold Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.22 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.88 annualized dividend and a dividend yield of 3.03%. Americold Realty Trust’s dividend payout ratio is currently -75.21%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Robert W. Baird boosted their price target on Americold Realty Trust from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday. Wolfe Research raised shares of Americold Realty Trust from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Monday, July 1st. Scotiabank raised shares of Americold Realty Trust from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $27.00 to $30.00 in a research report on Thursday, May 23rd. Wells Fargo & Company started coverage on Americold Realty Trust in a research note on Thursday, April 25th. They issued an “equal weight” rating and a $24.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded Americold Realty Trust from a “neutral” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Americold Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

Americold Realty Trust Company Profile

Americold is a global leader in temperature-controlled logistics real estate and value added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 245 temperature-controlled warehouses, with approximately 1.5 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America.