YETI (NYSE:YETI) Releases FY24 Earnings Guidance

YETI (NYSE:YETI - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.65 for the period, compared to the consensus estimate of $2.64. The company issued revenue guidance of $1.832 billion, compared to the consensus revenue estimate of $1.83 billion. YETI also updated its FY 2024 guidance to 2.650-2.650 EPS.

YETI Stock Performance

NYSE:YETI traded up $2.74 during mid-day trading on Thursday, hitting $38.87. The stock had a trading volume of 5,707,383 shares, compared to its average volume of 1,610,623. YETI has a twelve month low of $33.41 and a twelve month high of $54.15. The company's 50 day simple moving average is $38.80 and its 200 day simple moving average is $39.10. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.07 and a beta of 2.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 2.29.

YETI (NYSE:YETI - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.06. YETI had a net margin of 10.66% and a return on equity of 28.83%. The firm had revenue of $463.50 million for the quarter, compared to analyst estimates of $452.42 million. During the same quarter last year, the business posted $0.51 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that YETI will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on YETI shares. Bank of America downgraded shares of YETI from a "buy" rating to a "neutral" rating and reduced their target price for the company from $55.00 to $40.00 in a research report on Wednesday. B. Riley lifted their target price on shares of YETI from $38.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 9th. TD Cowen lifted their target price on shares of YETI from $43.00 to $46.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Jefferies Financial Group lifted their price target on shares of YETI from $54.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Finally, Roth Mkm lifted their target price on shares of YETI from $42.00 to $43.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $45.62.

About YETI

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.