Albertsons Companies (NYSE:ACI) Posts Earnings Results, Beats Expectations By $0.24 EPS

Albertsons Companies (NYSE:ACI) released its quarterly earnings results on Monday. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.24, MarketWatch Earnings reports. The company had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.32 billion. Albertsons Companies’s revenue for the quarter was up 9.3% on a year-over-year basis.

Shares of NYSE ACI opened at $17.10 on Wednesday. Albertsons Companies has a 52 week low of $12.91 and a 52 week high of $18.25. The company has a 50-day simple moving average of $15.96. The company has a debt-to-equity ratio of 5.63, a quick ratio of 0.49 and a current ratio of 1.13.

The firm also recently disclosed a dividend, which was paid on Wednesday, December 23rd. Investors of record on Friday, January 1st were paid a $48.00 dividend. The ex-dividend date of this dividend was Thursday, December 3rd. This represents a yield of 5.47%.

ACI has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of Albertsons Companies from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Tigress Financial began coverage on shares of Albertsons Companies in a report on Friday, September 25th. They issued a “buy” rating for the company. Northcoast Research began coverage on shares of Albertsons Companies in a report on Tuesday, October 6th. They issued a “buy” rating and a $18.00 target price for the company. BMO Capital Markets cut shares of Albertsons Companies from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a report on Tuesday. Finally, ValuEngine cut shares of Albertsons Companies from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $19.59.

Albertsons Companies Company Profile

Albertsons Companies, Inc, through its subsidiaries, operates as a food and drug retailer in the United States. Its food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. As of February 29, 2020, the company operated 2,252 stores under various banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Market Street, Pavilions, Star Market, Carrs, and Haggen; and 1,726 pharmacies, 1,290 in-store branded coffee shops, and 402 adjacent fuel centers.

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