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

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

Wall Street Analyst Weigh In

ACI has been the topic of a number of recent analyst reports. Citigroup assumed coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They issued a “buy” rating and a $26.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of Albertsons Companies in a report on Tuesday, January 7th. BMO Capital Markets reduced their price objective on 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. UBS Group reduced their price target on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, Evercore ISI boosted their price objective on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Albertsons Companies has an average rating of “Moderate Buy” and an average target price of $23.00.

Albertsons Companies Stock Performance

Shares of ACI stock traded up $0.12 during trading on Thursday, reaching $20.14. The company had a trading volume of 220,358 shares, compared to its average volume of 5,820,571. The company has a market capitalization of $11.67 billion, a PE ratio of 11.31, a PEG ratio of 1.83 and a beta of 0.51. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. The firm’s 50 day simple moving average is $19.60 and its two-hundred day simple moving average is $19.34. Albertsons Companies has a one year low of $17.00 and a one year high of $21.75.

Albertsons Companies (NYSE:ACI) last released its quarterly 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. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company had revenue of $18.77 billion for the quarter, compared to analyst estimates of $18.82 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Albertsons Companies will post 2.14 earnings per share for the current year.

Albertsons Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.98%. This is a boost from Albertsons Companies’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, January 24th. Albertsons Companies’s dividend payout ratio is 26.97%.

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.