Kraft Heinz (NASDAQ:KHC – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.01-3.07 for the period, compared to the consensus earnings per share estimate of $3.04. Kraft Heinz also updated its FY 2024 guidance to 3.010-3.070 EPS.
Kraft Heinz Stock Performance
Shares of KHC stock opened at $36.35 on Friday. The stock has a market cap of $44.14 billion, a P/E ratio of 15.87, a P/E/G ratio of 2.92 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.54. The company has a fifty day moving average price of $36.34 and a two-hundred day moving average price of $35.75. Kraft Heinz has a one year low of $30.68 and a one year high of $41.44.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. As a group, equities analysts predict that Kraft Heinz will post 3.02 EPS for the current year.
Kraft Heinz Dividend Announcement
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on KHC shares. Wells Fargo & Company dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an equal weight rating on the stock in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a research report on Thursday, April 18th. Bank of America increased their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a buy rating in a research report on Monday, April 15th. Finally, Citigroup started coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They issued a buy rating and a $43.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $40.00.
Check Out Our Latest Stock Analysis on Kraft Heinz
Kraft Heinz Company Profile
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.
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