Krispy Kreme (NASDAQ:DNUT) Issues FY 2024 Earnings Guidance

Krispy Kreme (NASDAQ:DNUT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.240-0.280 for the period, compared to the consensus EPS estimate of 0.270. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.8 billion.

Krispy Kreme Stock Up 1.3 %

Shares of NASDAQ:DNUT traded up $0.14 during midday trading on Friday, reaching $10.58. The company had a trading volume of 1,988,288 shares, compared to its average volume of 2,339,479. The stock has a market capitalization of $1.78 billion, a P/E ratio of -39.19, a PEG ratio of 1.96 and a beta of 1.41. The stock’s fifty day moving average price is $10.72 and its 200-day moving average price is $12.23. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27. Krispy Kreme has a one year low of $9.18 and a one year high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last issued its earnings results on Thursday, May 9th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $442.70 million during the quarter, compared to analyst estimates of $433.87 million. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. Equities research analysts expect that Krispy Kreme will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DNUT shares. JPMorgan Chase & Co. initiated coverage on Krispy Kreme in a research note on Monday, June 3rd. They set an overweight rating and a $14.00 price objective for the company. Hsbc Global Res upgraded shares of Krispy Kreme from a hold rating to a strong-buy rating in a research report on Tuesday, July 23rd. Truist Financial raised Krispy Kreme from a hold rating to a buy rating and lifted their price target for the company from $13.00 to $15.00 in a report on Monday, June 10th. Bank of America reduced their price objective on Krispy Kreme from $19.00 to $16.00 and set a buy rating for the company in a research report on Wednesday, July 17th. Finally, HSBC upgraded Krispy Kreme from a hold rating to a buy rating and set a $14.00 target price on the stock in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Krispy Kreme currently has a consensus rating of Moderate Buy and a consensus target price of $16.25.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.