Floor & Decor (NYSE:FND) Updates FY 2024 Earnings Guidance

Floor & Decor (NYSE:FND) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.650-1.750 for the period, compared to the consensus EPS estimate of 1.680. The company issued revenue guidance of $4.4 billion-$4.4 billion, compared to the consensus revenue estimate of $4.5 billion. Floor & Decor also updated its FY24 guidance to ~$1.65-1.75 EPS.

Floor & Decor Stock Performance

Shares of Floor & Decor stock traded up $0.76 during mid-day trading on Wednesday, hitting $100.88. 2,259,303 shares of the stock were exchanged, compared to its average volume of 1,427,862. The company has a market capitalization of $10.80 billion, a P/E ratio of 48.73, a P/E/G ratio of 13.92 and a beta of 1.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.27 and a current ratio of 1.17. The company has a 50-day simple moving average of $112.00 and a 200 day simple moving average of $108.92. Floor & Decor has a 12 month low of $76.30 and a 12 month high of $135.67.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Floor & Decor had a return on equity of 10.69% and a net margin of 4.78%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business’s revenue was down .2% on a year-over-year basis. Sell-side analysts anticipate that Floor & Decor will post 1.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FND has been the subject of a number of research reports. Evercore ISI reduced their target price on shares of Floor & Decor from $120.00 to $100.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Melius Research began coverage on Floor & Decor in a research note on Monday, September 23rd. They issued a “sell” rating and a $80.00 target price on the stock. Truist Financial dropped their price target on Floor & Decor from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Citigroup decreased their price objective on Floor & Decor from $109.00 to $104.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Wells Fargo & Company upped their price objective on shares of Floor & Decor from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Floor & Decor presently has a consensus rating of “Hold” and a consensus price target of $104.76.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.