Floor & Decor (NYSE:FND) Issues FY 2024 Earnings Guidance

Floor & Decor (NYSE:FND) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 1.750-2.050 for the period, compared to the consensus earnings per share estimate of 1.910. The company issued revenue guidance of $4.6 billion-$4.8 billion, compared to the consensus revenue estimate of $4.7 billion.

Floor & Decor Stock Up 3.5 %

Shares of NYSE FND traded up $3.93 during mid-day trading on Monday, hitting $116.97. 1,374,938 shares of the stock traded hands, compared to its average volume of 1,400,629. The stock has a fifty day moving average price of $118.90 and a 200-day moving average price of $106.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.21 and a current ratio of 1.17. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 56.74, a PEG ratio of 5.51 and a beta of 1.86. Floor & Decor has a 52 week low of $76.30 and a 52 week high of $135.67.

Floor & Decor (NYSE:FND) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Floor & Decor had a net margin of 5.11% and a return on equity of 11.80%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that Floor & Decor will post 1.9 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein downgraded Floor & Decor from an outperform rating to a market perform rating and boosted their price target for the company from $100.00 to $115.00 in a research note on Tuesday, January 16th. The Goldman Sachs Group increased their price target on shares of Floor & Decor from $71.00 to $79.00 and gave the stock a neutral rating in a research report on Monday, February 26th. Piper Sandler boosted their price objective on shares of Floor & Decor from $105.00 to $115.00 and gave the company a neutral rating in a research report on Tuesday, April 9th. TD Cowen decreased their target price on Floor & Decor from $125.00 to $115.00 and set a hold rating on the stock in a report on Friday. Finally, Truist Financial lifted their target price on Floor & Decor from $102.00 to $127.00 and gave the company a buy rating in a research report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $108.76.

Insider Buying and Selling

In other news, EVP Steven Alan Denny sold 5,152 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $123.52, for a total value of $636,375.04. Following the transaction, the executive vice president now owns 13,271 shares in the company, valued at $1,639,233.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Steven Alan Denny sold 5,152 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $123.52, for a total transaction of $636,375.04. Following the completion of the sale, the executive vice president now owns 13,271 shares of the company’s stock, valued at $1,639,233.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bryan Langley sold 5,865 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $119.86, for a total transaction of $702,978.90. Following the completion of the transaction, the chief financial officer now directly owns 17,422 shares in the company, valued at $2,088,200.92. The disclosure for this sale can be found here. Insiders sold a total of 90,867 shares of company stock worth $11,016,089 in the last 90 days. Insiders own 2.10% of the company’s stock.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.