US Foods (NYSE:USFD) Issues FY 2024 Earnings Guidance

US Foods (NYSE:USFD) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 3.000-3.200 for the period, compared to the consensus EPS estimate of 3.100. The company issued revenue guidance of $37.5 billion-$38.5 billion, compared to the consensus revenue estimate of $37.9 billion.

US Foods Stock Performance

Shares of US Foods stock opened at $52.98 on Friday. The firm has a 50 day simple moving average of $53.00 and a 200 day simple moving average of $50.38. US Foods has a fifty-two week low of $35.66 and a fifty-two week high of $55.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.31 and a quick ratio of 0.81. The firm has a market cap of $13.03 billion, a P/E ratio of 26.10, a P/E/G ratio of 0.87 and a beta of 1.60.

US Foods (NYSE:USFD) last released its earnings results on Thursday, May 9th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $8.95 billion for the quarter, compared to the consensus estimate of $8.93 billion. US Foods had a return on equity of 13.08% and a net margin of 1.41%. Sell-side analysts predict that US Foods will post 2.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed an outperform rating and issued a $62.00 target price (up previously from $58.00) on shares of US Foods in a research note on Friday, May 10th. BTIG Research lifted their target price on shares of US Foods from $52.00 to $62.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Morgan Stanley upped their target price on shares of US Foods from $62.00 to $64.00 and gave the company an overweight rating in a research report on Friday, May 10th. UBS Group raised their price target on US Foods from $64.00 to $67.00 and gave the stock a buy rating in a research report on Friday, May 10th. Finally, Truist Financial increased their target price on US Foods from $65.00 to $66.00 and gave the company a buy rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Buy and a consensus price target of $62.00.

About US Foods

US Foods Holding Corp., together with its subsidiaries, engages in marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States. The company's customers include independently owned single and multi-unit restaurants, regional concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations.