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

Albertsons Companies (NYSE:ACI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.250-2.310 for the period, compared to the consensus earnings per share estimate of 2.250. The company issued revenue guidance of -.

Analyst Ratings Changes

ACI has been the subject of a number of research analyst reports. Tigress Financial restated a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a report on Monday, October 21st. BMO Capital Markets reduced their price target on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, October 16th. UBS Group lowered their price objective on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Citigroup started coverage on shares of Albertsons Companies in a research report on Friday, January 24th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Evercore ISI upped their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Albertsons Companies has an average rating of “Moderate Buy” and an average price target of $23.00.

Albertsons Companies Stock Performance

Shares of Albertsons Companies stock opened at $20.07 on Friday. The company has a 50 day moving average of $19.63 and a 200-day moving average of $19.35. The company has a market cap of $11.63 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.87 and a beta of 0.51. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $21.75.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The firm had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. During the same quarter last year, the business posted $0.79 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.15 per share. This is an increase from Albertsons Companies’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.60 annualized dividend and a yield of 2.99%. Albertsons Companies’s payout ratio is presently 33.71%.

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.