Kraft Heinz (NASDAQ:KHC) Issues FY 2024 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.010-3.070 for the period, compared to the consensus estimate of 3.040. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KHC shares. Bank of America increased their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a buy rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a research note on Thursday, April 18th. Wells Fargo & Company lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating for the company in a research note on Thursday, February 15th. Finally, Citigroup started coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a buy rating and a $43.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $40.00.

Kraft Heinz Stock Down 1.0 %

Shares of Kraft Heinz stock traded down $0.37 on Friday, hitting $36.35. The company had a trading volume of 7,102,855 shares, compared to its average volume of 7,314,267. The stock has a market capitalization of $44.14 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 2.92 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.54 and a current ratio of 1.09. Kraft Heinz has a 1 year low of $30.68 and a 1 year high of $41.44. The stock has a 50 day moving average of $36.35 and a 200-day moving average of $35.75.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. As a group, sell-side analysts forecast that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.40%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Kraft Heinz Company Profile

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.