Kraft Heinz (NASDAQ:KHC) Releases FY24 Earnings Guidance

by · The Markets Daily

Kraft Heinz (NASDAQ:KHC – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.01-3.07 for the period, compared to the consensus EPS estimate of $3.02. Kraft Heinz also updated its FY 2024 guidance to 3.010-3.010 EPS.

Analyst Ratings Changes

A number of analysts have commented on KHC shares. Wells Fargo & Company boosted their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Citigroup dropped their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $35.00 in a report on Thursday. Finally, Bank of America dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.15.

View Our Latest Stock Report on Kraft Heinz

Kraft Heinz Trading Up 0.1 %

KHC stock traded up $0.03 during trading on Friday, reaching $33.49. 5,676,456 shares of the stock traded hands, compared to its average volume of 7,776,126. The business’s 50 day moving average price is $35.15 and its 200-day moving average price is $34.83. The firm has a market capitalization of $40.49 billion, a PE ratio of 30.17, a P/E/G ratio of 3.30 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.53. Kraft Heinz has a 52-week low of $31.58 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

About Kraft Heinz

(Get Free Report)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.

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