Utz Brands (NYSE:UTZ) Releases FY 2024 Earnings Guidance

Utz Brands (NYSE:UTZ) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.730-0.750 for the period, compared to the consensus earnings per share estimate of 0.740. The company issued revenue guidance of -.

Utz Brands Price Performance

NYSE:UTZ opened at $17.64 on Monday. Utz Brands has a 52 week low of $11.17 and a 52 week high of $20.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. The firm’s 50-day simple moving average is $16.63 and its 200 day simple moving average is $17.39. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -70.56, a P/E/G ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last announced its earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $356.20 million for the quarter, compared to analysts’ expectations of $356.23 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. As a group, sell-side analysts predict that Utz Brands will post 0.74 earnings per share for the current year.

Utz Brands Dividend Announcement

The business also recently announced a None dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.011 per share. This represents a dividend yield of 1.3%. The ex-dividend date is Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is currently -92.00%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on UTZ shares. Needham & Company LLC reaffirmed a buy rating and set a $22.00 price objective on shares of Utz Brands in a research report on Friday, August 2nd. Barclays cut their price target on shares of Utz Brands from $23.00 to $19.00 and set an overweight rating for the company in a report on Friday, July 19th. Finally, Piper Sandler reiterated an overweight rating and set a $22.00 price target on shares of Utz Brands in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $20.36.

Insider Activity at Utz Brands

In related news, Director Bruce John Lindeman bought 4,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $16.11 per share, with a total value of $64,440.00. Following the completion of the purchase, the director now owns 42,480 shares in the company, valued at approximately $684,352.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.00% of the stock is owned by insiders.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.