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

US Foods (NYSE:USFD) updated its FY 2024 earnings guidance on Saturday. The company provided earnings per share guidance of 3.000-3.200 for the period, compared to the consensus earnings per share estimate of 3.110. The company issued revenue guidance of $37.5 billion-$38.5 billion, compared to the consensus revenue estimate of $37.9 billion.

Analyst Upgrades and Downgrades

A number of research firms have commented on USFD. Morgan Stanley boosted their target price on US Foods from $62.00 to $64.00 and gave the stock an overweight rating in a research report on Friday, May 10th. Barclays boosted their target price on US Foods from $60.00 to $64.00 and gave the stock an overweight rating in a research report on Friday, May 10th. JPMorgan Chase & Co. boosted their target price on US Foods from $58.00 to $60.00 and gave the stock a neutral rating in a research report on Tuesday, August 13th. Piper Sandler boosted their target price on US Foods from $59.00 to $61.00 and gave the stock an overweight rating in a research report on Friday, June 7th. Finally, Truist Financial upped their price objective on US Foods from $65.00 to $66.00 and gave the company a buy rating in a research report on Thursday, June 6th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $64.70.

US Foods Stock Performance

Shares of NYSE:USFD opened at $57.72 on Monday. The firm has a market capitalization of $14.19 billion, a PE ratio of 28.43, a P/E/G ratio of 0.91 and a beta of 1.62. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.29 and a quick ratio of 0.81. The business has a 50-day moving average of $52.95 and a two-hundred day moving average of $52.21. US Foods has a 12 month low of $35.66 and a 12 month high of $57.76.

US Foods (NYSE:USFD) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $9.71 billion during the quarter, compared to analyst estimates of $9.62 billion. US Foods had a return on equity of 13.43% and a net margin of 1.42%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, research analysts forecast that US Foods will post 2.94 earnings per share for the current year.

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.