Flowers Foods (NYSE:FLO) Issues FY 2024 Earnings Guidance

Flowers Foods (NYSE:FLO) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.240-1.280 for the period, compared to the consensus EPS estimate of 1.250. The company issued revenue guidance of $5.1 billion-$5.1 billion, compared to the consensus revenue estimate of $5.1 billion. Flowers Foods also updated its FY24 guidance to $1.24-1.28 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Flowers Foods from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.75.

Flowers Foods Trading Down 2.1 %

Shares of NYSE:FLO opened at $22.02 on Friday. The business’s 50-day moving average is $22.85 and its 200 day moving average is $23.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.19 and a quick ratio of 0.91. Flowers Foods has a 1 year low of $19.64 and a 1 year high of $26.12. The firm has a market capitalization of $4.64 billion, a P/E ratio of 36.10, a P/E/G ratio of 4.32 and a beta of 0.36.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Friday, August 16th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. Flowers Foods had a net margin of 2.51% and a return on equity of 18.97%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, research analysts predict that Flowers Foods will post 1.25 earnings per share for the current fiscal year.

Flowers Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.96 annualized dividend and a dividend yield of 4.36%. Flowers Foods’s payout ratio is currently 157.38%.

Flowers Foods Company Profile

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.