Flowers Foods (NYSE:FLO) Releases FY24 Earnings Guidance

Flowers Foods (NYSE:FLO - Get Free Report) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $1.24-1.28 for the period, compared to the consensus earnings per share estimate of $1.25. The company issued revenue guidance of $5.12-5.15 billion, compared to the consensus revenue estimate of $5.14 billion. Flowers Foods also updated its FY 2024 guidance to 1.240-1.280 EPS.

Flowers Foods Trading Down 2.2 %

Shares of Flowers Foods stock traded down $0.49 on Friday, hitting $21.54. 1,687,656 shares of the company traded hands, compared to its average volume of 1,162,517. The company has a current ratio of 1.19, a quick ratio of 0.91 and a debt-to-equity ratio of 0.77. The company has a market cap of $4.54 billion, a PE ratio of 36.10, a PEG ratio of 4.32 and a beta of 0.36. The stock's 50 day moving average price is $22.85 and its 200-day moving average price is $23.03. Flowers Foods has a 52 week low of $19.64 and a 52 week high of $26.12.

Flowers Foods (NYSE:FLO - Get Free Report) last issued its earnings results on Friday, August 16th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Flowers Foods had a return on equity of 18.97% and a net margin of 2.51%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company posted $0.33 EPS. Flowers Foods's revenue was down .3% on a year-over-year basis. Equities research analysts predict that Flowers Foods will post 1.25 EPS for the current year.

Flowers Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Friday, September 6th. Flowers Foods's dividend payout ratio (DPR) is 157.38%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Flowers Foods from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $22.75.

Flowers Foods Company Profile

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.