SpartanNash (NASDAQ:SPTN) Issues FY24 Earnings Guidance

SpartanNash (NASDAQ:SPTN - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.85-1.95 for the period, compared to the consensus estimate of $2.02. The company issued revenue guidance of $9.50-9.70 billion, compared to the consensus revenue estimate of $9.50 billion. SpartanNash also updated its FY 2024 guidance to 1.850-1.950 EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of SpartanNash from a "hold" rating to a "buy" rating in a report on Wednesday, September 18th.

SpartanNash Stock Down 12.3 %

NASDAQ SPTN traded down $2.78 during trading hours on Thursday, hitting $19.81. The company had a trading volume of 391,583 shares, compared to its average volume of 246,610. SpartanNash has a fifty-two week low of $17.74 and a fifty-two week high of $24.51. The firm's 50 day moving average is $21.72 and its 200 day moving average is $20.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.62 and a quick ratio of 0.80. The company has a market capitalization of $668.39 million, a price-to-earnings ratio of 14.83 and a beta of 0.39.

SpartanNash (NASDAQ:SPTN - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $0.65 EPS. The business's revenue was down 3.5% on a year-over-year basis. Sell-side analysts anticipate that SpartanNash will post 1.98 earnings per share for the current fiscal year.

SpartanNash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 23rd were given a dividend of $0.218 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.87 dividend on an annualized basis and a yield of 4.40%. SpartanNash's payout ratio is presently 65.41%.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.