Kraft Heinz (NASDAQ:KHC) Releases FY 2024 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.010-3.070 for the period, compared to the consensus estimate of 3.040. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a buy rating in a research report on Monday, April 15th. Wells Fargo & Company lowered their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an equal weight rating for the company in a report on Thursday, February 15th. Citigroup began coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a buy rating and a $43.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a report on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $40.57.

Kraft Heinz Stock Down 5.7 %

NASDAQ KHC traded down $2.20 during trading hours on Wednesday, reaching $36.41. 1,538,862 shares of the company traded hands, compared to its average volume of 7,948,077. Kraft Heinz has a 12 month low of $30.68 and a 12 month high of $41.47. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $44.26 billion, a PE ratio of 16.71, a PEG ratio of 3.05 and a beta of 0.67. The company has a 50 day moving average of $36.34 and a two-hundred day moving average of $35.71.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the prior year, the firm posted $0.85 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts expect that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.39%. Kraft Heinz’s payout ratio is currently 69.26%.

About Kraft Heinz

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.