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

Albertsons Companies (NYSE:ACI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.200-2.300 for the period, compared to the consensus earnings per share estimate of 2.260. The company issued revenue guidance of -.

Albertsons Companies Stock Performance

Shares of NYSE ACI traded down $0.01 during midday trading on Wednesday, reaching $18.50. 12,096,886 shares of the stock were exchanged, compared to its average volume of 3,080,964. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. The firm has a 50-day simple moving average of $18.85 and a two-hundred day simple moving average of $19.40. Albertsons Companies has a twelve month low of $17.00 and a twelve month high of $23.47. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.12 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. As a group, analysts anticipate that Albertsons Companies will post 2.13 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were paid a $0.12 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.59%. Albertsons Companies’s dividend payout ratio is presently 28.07%.

Analyst Upgrades and Downgrades

ACI has been the topic of several research analyst reports. Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Telsey Advisory Group reissued a “market perform” rating and issued a $27.25 price target on shares of Albertsons Companies in a research note on Friday, October 11th. BMO Capital Markets reduced their price objective on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Finally, Tigress Financial reissued a “buy” rating and set a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.14.

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.