US Foods (NYSE:USFD) Updates FY 2024 Earnings Guidance

US Foods (NYSE:USFD) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 3.050-3.150 for the period, compared to the consensus earnings per share estimate of 3.120. The company issued revenue guidance of $37.7 billion-$38.0 billion, compared to the consensus revenue estimate of $37.9 billion. US Foods also updated its FY24 guidance to $3.05-3.15 EPS.

Wall Street Analyst Weigh In

USFD has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on US Foods from $68.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. StockNews.com raised shares of US Foods from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their target price on shares of US Foods from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Truist Financial upped their target price on shares of US Foods from $66.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler lifted their price target on shares of US Foods from $61.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, US Foods presently has a consensus rating of “Buy” and an average target price of $67.08.

US Foods Stock Down 1.1 %

Shares of US Foods stock opened at $67.49 on Monday. The business has a 50-day moving average price of $68.05 and a 200 day moving average price of $61.12. US Foods has a fifty-two week low of $44.81 and a fifty-two week high of $72.84. The firm has a market cap of $15.72 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.15 and a beta of 1.67. The company has a quick ratio of 0.72, a current ratio of 1.19 and a debt-to-equity ratio of 1.01.

About US Foods

US Foods Holding Corp., together with its subsidiaries, engages in marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States. The company's customers include independently owned single and multi-unit restaurants, regional concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations.