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

Kraft Heinz (NASDAQ:KHC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.010-3.010 for the period, compared to the consensus earnings per share estimate of 3.020. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Kraft Heinz Stock Up 0.1 %

Shares of KHC stock traded up $0.03 on Friday, hitting $33.49. The stock had a trading volume of 5,671,687 shares, compared to its average volume of 7,776,104. The business has a 50 day moving average price of $35.20 and a 200 day moving average price of $34.85. Kraft Heinz has a one year low of $31.58 and a one year high of $38.96. The company has a market cap of $40.49 billion, a PE ratio of 30.17, a P/E/G ratio of 3.30 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. Research analysts anticipate that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.78%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KHC shares. Mizuho lowered their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $35.00 in a report on Thursday. The Goldman Sachs Group dropped their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday. Wells Fargo & Company increased their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Citigroup decreased their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.15.

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.