Albertsons Companies (NYSE:ACI) Shares Up 4.5% After Better-Than-Expected Earnings

Albertsons Companies, Inc. (NYSE:ACI - Get Free Report)'s share price rose 4.5% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $20.86 and last traded at $20.85. Approximately 2,256,034 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 6,533,399 shares. The stock had previously closed at $19.94.

The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company had revenue of $18.80 billion during the quarter, compared to the consensus estimate of $18.78 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share.

Albertsons Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, April 25th. This represents a $0.60 dividend on an annualized basis and a yield of 2.77%. Albertsons Companies's payout ratio is 36.59%.

Wall Street Analysts Forecast Growth

ACI has been the topic of several analyst reports. The Goldman Sachs Group reiterated a "buy" rating and set a $26.00 price target on shares of Albertsons Companies in a report on Tuesday, February 4th. Telsey Advisory Group reissued an "outperform" rating and issued a $26.00 target price on shares of Albertsons Companies in a report on Friday, April 11th. UBS Group lowered their target price on Albertsons Companies from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday. Citigroup started coverage on Albertsons Companies in a report on Friday, January 24th. They set a "buy" rating and a $26.00 price objective on the stock. Finally, Evercore ISI lowered their price target on Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Albertsons Companies has an average rating of "Moderate Buy" and an average target price of $23.36.

Hedge Funds Weigh In On Albertsons Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ORBA Wealth Advisors L.L.C. lifted its holdings in shares of Albertsons Companies by 16.5% in the first quarter. ORBA Wealth Advisors L.L.C. now owns 25,702 shares of the company's stock worth $565,000 after buying an additional 3,647 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Albertsons Companies by 1,050.7% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 653,929 shares of the company's stock worth $14,380,000 after acquiring an additional 597,101 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Albertsons Companies by 93.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,245 shares of the company's stock valued at $3,502,000 after purchasing an additional 76,859 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Albertsons Companies by 54.8% during the first quarter. Fifth Third Bancorp now owns 2,997 shares of the company's stock worth $66,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Focus Financial Network Inc. purchased a new stake in Albertsons Companies during the first quarter valued at about $205,000. Institutional investors own 71.35% of the company's stock.

Albertsons Companies Stock Performance

The stock has a market cap of $12.55 billion, a PE ratio of 12.17, a P/E/G ratio of 1.92 and a beta of 0.47. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. The company has a fifty day moving average price of $21.19 and a 200 day moving average price of $19.98.

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.