Flowers Foods (NYSE:FLO) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Flowers Foods (NYSE:FLOGet Free Report) released its quarterly earnings results on Thursday. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02), Briefing.com reports. Flowers Foods had a return on equity of 18.15% and a net margin of 2.42%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Flowers Foods updated its FY24 guidance to $1.20-1.30 EPS and its FY 2024 guidance to 1.200-1.300 EPS.

Flowers Foods Price Performance

Shares of NYSE FLO traded down $1.19 during midday trading on Friday, reaching $24.30. The company’s stock had a trading volume of 948,067 shares, compared to its average volume of 1,214,480. The company has a current ratio of 1.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average price of $23.85 and a 200 day moving average price of $22.80. Flowers Foods has a one year low of $19.64 and a one year high of $28.85. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 41.78, a price-to-earnings-growth ratio of 4.17 and a beta of 0.37.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FLO shares. DA Davidson boosted their price target on shares of Flowers Foods from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Flowers Foods from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Flowers Foods presently has a consensus rating of “Hold” and an average target price of $24.00.

Read Our Latest Research Report on FLO

Insider Buying and Selling

In other news, Director Edward J. Jr. Casey purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average price of $23.55 per share, for a total transaction of $117,750.00. Following the completion of the acquisition, the director now directly owns 20,330 shares of the company’s stock, valued at $478,771.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Terry S. Thomas sold 36,577 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $23.11, for a total transaction of $845,294.47. Following the sale, the insider now owns 42,740 shares in the company, valued at $987,721.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Jr. Casey acquired 5,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was bought at an average price of $23.55 per share, for a total transaction of $117,750.00. Following the purchase, the director now owns 20,330 shares in the company, valued at approximately $478,771.50. The disclosure for this purchase can be found here. Insiders own 11.42% of the company’s stock.

Flowers Foods Company Profile

(Get Free Report)

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.

See Also

Earnings History for Flowers Foods (NYSE:FLO)

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