Flowers Foods (NYSE:FLO - Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03, Briefing.com reports. Flowers Foods had a net margin of 2.51% and a return on equity of 18.97%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the company posted $0.29 EPS. Flowers Foods's revenue was down .7% on a year-over-year basis. Flowers Foods updated its FY24 guidance to $1.24-1.28 EPS and its FY 2024 guidance to 1.240-1.280 EPS.
Flowers Foods Stock Performance
Flowers Foods stock traded down $0.59 on Friday, hitting $21.44. The company's stock had a trading volume of 2,655,462 shares, compared to its average volume of 925,562. The company has a fifty day moving average price of $22.81 and a 200-day moving average price of $22.99. The firm has a market cap of $4.52 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 4.37 and a beta of 0.36. Flowers Foods has a one year low of $19.64 and a one year high of $26.12. The company has a quick ratio of 0.91, a current ratio of 1.19 and a debt-to-equity ratio of 0.77.
Flowers Foods Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Friday, September 6th. Flowers Foods's payout ratio is presently 157.38%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Flowers Foods from a "strong-buy" rating to a "buy" rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.75.
View Our Latest Stock Report on Flowers Foods
About Flowers Foods
(
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Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.
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