Floor & Decor (NYSE:FND) Releases FY 2024 Earnings Guidance

Floor & Decor (NYSE:FND) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.550-1.750 for the period, compared to the consensus estimate of 1.790. The company issued revenue guidance of $4.4 billion-$4.5 billion, compared to the consensus revenue estimate of $4.6 billion. Floor & Decor also updated its FY24 guidance to $1.55-$1.75 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FND. Piper Sandler boosted their price objective on Floor & Decor from $105.00 to $115.00 and gave the company a neutral rating in a research note on Tuesday, April 9th. Telsey Advisory Group dropped their target price on Floor & Decor from $110.00 to $100.00 and set a market perform rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company dropped their target price on Floor & Decor from $125.00 to $95.00 and set an equal weight rating on the stock in a report on Friday, July 26th. UBS Group dropped their target price on Floor & Decor from $135.00 to $125.00 and set a neutral rating on the stock in a report on Friday, May 3rd. Finally, Robert W. Baird dropped their target price on Floor & Decor from $127.00 to $115.00 and set an outperform rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $105.76.

Floor & Decor Trading Down 3.9 %

NYSE FND traded down $3.85 during trading hours on Thursday, hitting $94.15. 2,726,360 shares of the company’s stock were exchanged, compared to its average volume of 1,489,932. The business’s 50 day moving average is $105.18 and its 200-day moving average is $111.67. The firm has a market capitalization of $10.07 billion, a P/E ratio of 45.48, a price-to-earnings-growth ratio of 10.25 and a beta of 1.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.21 and a current ratio of 1.17. Floor & Decor has a 12-month low of $76.30 and a 12-month high of $135.67.

Floor & Decor (NYSE:FND) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Floor & Decor had a return on equity of 11.80% and a net margin of 5.11%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. As a group, analysts anticipate that Floor & Decor will post 1.82 EPS for the current fiscal year.

Insider Transactions at Floor & Decor

In other news, EVP Steven Alan Denny sold 1,010 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $123.11, for a total value of $124,341.10. Following the transaction, the executive vice president now directly owns 12,911 shares in the company, valued at approximately $1,589,473.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Steven Alan Denny sold 1,010 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $123.11, for a total value of $124,341.10. Following the completion of the sale, the executive vice president now owns 12,911 shares in the company, valued at $1,589,473.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas V. Taylor sold 34,199 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total value of $4,274,875.00. Following the completion of the sale, the chief executive officer now owns 168,386 shares of the company’s stock, valued at approximately $21,048,250. The disclosure for this sale can be found here. Insiders have sold a total of 41,778 shares of company stock worth $5,182,791 in the last three months. 2.10% of the stock is currently owned by company insiders.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.