Kraft Heinz (NASDAQ:KHC) Releases FY24 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.01-3.07 for the period, compared to the consensus estimate of $3.04. Kraft Heinz also updated its FY 2024 guidance to 3.010-3.070 EPS.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $36.35 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. Kraft Heinz has a fifty-two week low of $30.68 and a fifty-two week high of $41.44. The firm has a 50-day simple moving average of $36.34 and a 200 day simple moving average of $35.75. The company has a market cap of $44.14 billion, a PE ratio of 15.87, a P/E/G ratio of 2.92 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Kraft Heinz will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KHC shares. 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 report on Monday, April 15th. Citigroup started coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a buy rating and a $43.00 price objective for the company. 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 report on Thursday, April 18th. Finally, Wells Fargo & Company decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz has an average rating of Hold and a consensus price target of $40.00.

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.