Floor & Decor (NYSE:FND) Issues Earnings Results, Beats Expectations By $0.06 EPS

Floor & Decor (NYSE:FND) issued its earnings results on Wednesday. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06, Briefing.com reports. Floor & Decor had a net margin of 4.45% and a return on equity of 9.84%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.61 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Floor & Decor updated its FY24 guidance to ~$1.65-1.75 EPS and its FY 2024 guidance to 1.650-1.750 EPS.

Floor & Decor Stock Up 1.6 %

NYSE:FND traded up $1.66 during trading hours on Friday, reaching $104.71. 368,498 shares of the company traded hands, compared to its average volume of 1,425,133. Floor & Decor has a 1 year low of $76.30 and a 1 year high of $135.67. The stock has a market capitalization of $11.22 billion, a P/E ratio of 57.20, a P/E/G ratio of 13.59 and a beta of 1.80. The business’s 50-day moving average price is $111.85 and its two-hundred day moving average price is $108.87. The company has a current ratio of 1.17, a quick ratio of 0.27 and a debt-to-equity ratio of 0.10.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FND. Piper Sandler reduced their price objective on shares of Floor & Decor from $119.00 to $118.00 and set a “neutral” rating for the company in a research note on Monday. Wedbush reissued an “outperform” rating and set a $110.00 price objective on shares of Floor & Decor in a report on Friday, October 25th. Telsey Advisory Group restated a “market perform” rating and set a $95.00 price objective on shares of Floor & Decor in a research report on Thursday. Melius Research began coverage on Floor & Decor in a research report on Monday, September 23rd. They set a “sell” rating and a $80.00 price objective on the stock. Finally, TD Cowen cut their target price on Floor & Decor from $115.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Floor & Decor presently has a consensus rating of “Hold” and a consensus price target of $104.24.

Floor & Decor Company Profile

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.