Albertsons Companies (NYSE:ACI) Updates FY 2024 Earnings Guidance

Albertsons Companies (NYSE:ACI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.200-2.300 for the period, compared to the consensus earnings per share estimate of 2.260. The company issued revenue guidance of -.

Albertsons Companies Stock Down 0.1 %

Shares of NYSE ACI traded down $0.01 during mid-day trading on Wednesday, reaching $18.50. 12,096,886 shares of the company were exchanged, compared to its average volume of 3,080,964. The firm has a 50-day moving average of $18.85 and a 200 day moving average of $19.40. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $23.47. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.12 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. On average, research analysts expect that Albertsons Companies will post 2.13 earnings per share for the current year.

Albertsons Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.59%. Albertsons Companies’s dividend payout ratio is presently 28.07%.

Analyst Ratings Changes

A number of equities research analysts have commented on ACI shares. Evercore ISI increased their price target on Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. BMO Capital Markets decreased their price objective on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Wednesday, October 16th. Tigress Financial reiterated a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Royal Bank of Canada cut their price target on shares of Albertsons Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.14.

About Albertsons Companies

Albertsons Companies, Inc, through its subsidiaries, engages in the operation of food and drug stores in the United States. The company’s food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. It also manufactures and processes food products for sale in stores.