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

Albertsons Companies (NYSE:ACI) updated its FY 2024 earnings guidance on Wednesday. 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 Price Performance

Shares of ACI stock traded up $0.06 on Wednesday, hitting $18.57. 10,821,789 shares of the stock traded hands, compared to its average volume of 3,074,095. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. The firm has a 50 day simple moving average of $18.85 and a two-hundred day simple moving average of $19.40. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.12 and a beta of 0.51. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.47.

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

Albertsons Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.58%. Albertsons Companies’s payout ratio is 28.07%.

Analysts Set New Price Targets

ACI has been the subject of a number of research analyst reports. Wells Fargo & Company restated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. BMO Capital Markets decreased their price target on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, October 16th. Melius raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Monday, October 21st. Telsey Advisory Group reiterated a “market perform” rating and set a $27.25 target price on shares of Albertsons Companies in a research report on Friday, October 11th. Finally, Tigress Financial reissued a “buy” rating and issued a $27.00 price target on shares of Albertsons Companies in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Albertsons Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.14.

Albertsons Companies Company Profile

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.