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

Albertsons Companies (NYSE:ACI - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.250-2.310 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of -.

Albertsons Companies Price Performance

ACI traded up $0.10 during trading on Thursday, reaching $20.12. 2,962,033 shares of the company traded hands, compared to its average volume of 5,965,382. Albertsons Companies has a 12-month low of $17.00 and a 12-month high of $21.75. The firm has a fifty day simple moving average of $19.60 and a 200 day simple moving average of $19.34. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93. The company has a market cap of $11.66 billion, a P/E ratio of 11.30, a PEG ratio of 1.83 and a beta of 0.51.

Albertsons Companies (NYSE:ACI - Get Free Report) last announced its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The business had revenue of $18.77 billion for the quarter, compared to analysts' expectations of $18.82 billion. During the same quarter in the previous year, the company earned $0.79 EPS. The business's quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that Albertsons Companies will post 2.14 EPS for the current year.

Albertsons Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Albertsons Companies's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.98%. Albertsons Companies's dividend payout ratio (DPR) is 26.97%.

Analyst Ratings Changes

Several equities analysts have commented on ACI shares. Wells Fargo & Company reiterated a "market perform" rating on shares of Albertsons Companies in a research report on Friday, October 18th. Tigress Financial reissued a "buy" rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Monday, October 21st. UBS Group decreased their price objective on Albertsons Companies from $27.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 17th. Telsey Advisory Group reiterated an "outperform" rating and issued a $26.00 target price on shares of Albertsons Companies in a report on Thursday, January 9th. Finally, Evercore ISI upped their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an "in-line" rating in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

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.