SpartanNash (NASDAQ:SPTN) Issues Earnings Results, Beats Estimates By $0.01 EPS

SpartanNash (NASDAQ:SPTN) released its quarterly earnings data on Thursday. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01, Briefing.com reports. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. SpartanNash updated its FY24 guidance to $1.85-1.95 EPS and its FY 2024 guidance to 1.850-1.950 EPS.

SpartanNash Stock Down 4.2 %

NASDAQ:SPTN opened at $18.94 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $21.62 and its two-hundred day moving average is $20.43. SpartanNash has a 52 week low of $17.74 and a 52 week high of $24.51. The stock has a market capitalization of $639.04 million, a price-to-earnings ratio of 14.24 and a beta of 0.39.

SpartanNash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 23rd were issued a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Monday, September 23rd. SpartanNash’s dividend payout ratio is presently 65.41%.

Analyst Ratings Changes

Separately, StockNews.com cut SpartanNash from a “buy” rating to a “hold” rating in a report on Friday.

About SpartanNash

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.