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

Albertsons Companies (NYSE:ACI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.250-2.310 for the period, compared to the consensus EPS estimate of 2.250. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Albertsons Companies in a research report on Tuesday, January 7th. Evercore ISI lifted their price objective on Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 target price on shares of Albertsons Companies in a report on Thursday, January 9th. Wells Fargo & Company restated a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Finally, BMO Capital Markets reduced their price objective on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Albertsons Companies Price Performance

Shares of NYSE ACI opened at $20.07 on Friday. The firm has a market capitalization of $11.63 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.87 and a beta of 0.51. The firm’s 50-day moving average price is $19.63 and its 200-day moving average price is $19.35. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $21.75.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Wednesday, January 8th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $18.77 billion during the quarter, compared to analyst estimates of $18.82 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. Equities research analysts anticipate that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a $0.15 dividend. This is a boost from Albertsons Companies’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, January 24th. Albertsons Companies’s dividend payout ratio (DPR) is currently 33.71%.

About Albertsons Companies

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.