Americold Realty Trust (NYSE:COLD) Issues FY24 Earnings Guidance

Americold Realty Trust (NYSE:COLD - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.44-1.50 for the period, compared to the consensus earnings per share estimate of $1.48. Americold Realty Trust also updated its FY 2024 guidance to 1.440-1.500 EPS.

Americold Realty Trust Stock Down 8.3 %

COLD traded down $2.09 during midday trading on Thursday, hitting $23.17. The company's stock had a trading volume of 7,429,522 shares, compared to its average volume of 2,185,116. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $27.59 and a two-hundred day moving average price of $26.85. Americold Realty Trust has a 52-week low of $21.87 and a 52-week high of $30.92.

Americold Realty Trust (NYSE:COLD - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.54). Americold Realty Trust had a negative return on equity of 7.74% and a negative net margin of 10.60%. The firm had revenue of $660.96 million for the quarter, compared to analysts' expectations of $653.74 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts expect that Americold Realty Trust will post 1.39 earnings per share for the current year.

Americold Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Monday, September 30th. Americold Realty Trust's dividend payout ratio (DPR) is presently -87.13%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial boosted their price target on Americold Realty Trust from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Barclays boosted their price target on Americold Realty Trust from $25.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. Robert W. Baird boosted their price target on Americold Realty Trust from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. Scotiabank boosted their price target on Americold Realty Trust from $30.00 to $31.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company upped their target price on Americold Realty Trust from $24.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Americold Realty Trust currently has a consensus rating of "Moderate Buy" and an average price target of $31.18.

About Americold Realty Trust

Americold is a global leader in temperature-controlled logistics real estate and value added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 245 temperature-controlled warehouses, with approximately 1.5 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America.