Performance Food Group (NYSE:PFGC) Announces Earnings Results, Misses Estimates By $0.03 EPS

Performance Food Group (NYSE:PFGC) issued its quarterly earnings results on Wednesday. The food distribution company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03), Briefing.com reports. Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The business had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. Performance Food Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Performance Food Group Trading Up 2.1 %

PFGC traded up $1.44 during trading on Thursday, reaching $70.62. 725,303 shares of the company’s stock were exchanged, compared to its average volume of 977,090. The firm has a fifty day moving average price of $72.57 and a two-hundred day moving average price of $69.25. The stock has a market capitalization of $10.99 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 0.95 and a beta of 1.40. Performance Food Group has a one year low of $52.92 and a one year high of $78.54. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PFGC. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. BMO Capital Markets upped their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Barclays dropped their target price on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday. Stephens increased their price objective on shares of Performance Food Group from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Morgan Stanley increased their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.00.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.