SpartanNash (NASDAQ:SPTN) Issues Earnings Results, Beats Expectations By $0.01 EPS

Posted by Charles Blunt on Nov 9th, 2024

SpartanNash (NASDAQ:SPTN – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01, Briefing.com reports. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. SpartanNash updated its FY24 guidance to $1.85-1.95 EPS and its FY 2024 guidance to 1.850-1.950 EPS.

SpartanNash Price Performance

SpartanNash stock opened at $18.94 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.62 and a quick ratio of 0.80. SpartanNash has a one year low of $17.74 and a one year high of $24.51. The firm has a market capitalization of $639.13 million, a P/E ratio of 14.24 and a beta of 0.39. The business has a fifty day moving average price of $21.62 and a 200-day moving average price of $20.42.

SpartanNash Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 23rd were given a dividend of $0.218 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.87 annualized dividend and a dividend yield of 4.60%. SpartanNash’s dividend payout ratio is currently 65.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday.

Read Our Latest Stock Report on SPTN

About SpartanNash

(Get Free Report)

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.