Floor & Decor (NYSE:FND) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Floor & Decor (NYSE:FND) issued its earnings results on Thursday. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02, Briefing.com reports. Floor & Decor had a return on equity of 11.97% and a net margin of 5.11%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. Floor & Decor updated its FY24 guidance to $1.75-$2.05 EPS.

Floor & Decor Stock Performance

Shares of Floor & Decor stock opened at $113.04 on Friday. Floor & Decor has a 52 week low of $76.30 and a 52 week high of $135.67. The company has a market capitalization of $12.07 billion, a PE ratio of 54.61, a price-to-earnings-growth ratio of 5.48 and a beta of 1.86. The stock’s fifty day moving average is $118.90 and its two-hundred day moving average is $106.27. The company has a quick ratio of 0.18, a current ratio of 1.14 and a debt-to-equity ratio of 0.10.

Insider Activity at Floor & Decor

In other Floor & Decor news, EVP Steven Alan Denny sold 5,152 shares of Floor & Decor stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $123.52, for a total value of $636,375.04. Following the transaction, the executive vice president now owns 13,271 shares in the company, valued at $1,639,233.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Steven Alan Denny sold 5,152 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $123.52, for a total transaction of $636,375.04. Following the completion of the transaction, the executive vice president now owns 13,271 shares of the company’s stock, valued at $1,639,233.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Trevor Lang sold 13,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $123.28, for a total value of $1,602,640.00. Following the sale, the president now directly owns 170,844 shares in the company, valued at $21,061,648.32. The disclosure for this sale can be found here. Insiders sold 90,867 shares of company stock worth $11,016,089 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FND shares. Evercore ISI decreased their price target on shares of Floor & Decor from $120.00 to $115.00 and set an “in-line” rating on the stock in a research note on Friday. Sanford C. Bernstein cut shares of Floor & Decor from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, January 16th. Piper Sandler increased their price objective on shares of Floor & Decor from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Floor & Decor in a research note on Friday. Finally, Mizuho decreased their price target on Floor & Decor from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Floor & Decor has a consensus rating of “Hold” and a consensus price target of $108.76.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.