US Foods (NYSE:USFD) Releases FY24 Earnings Guidance

US Foods (NYSE:USFD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.00-3.20 for the period, compared to the consensus EPS estimate of $3.11. The company issued revenue guidance of $37.5-38.5 billion, compared to the consensus revenue estimate of $37.79 billion. US Foods also updated its FY 2024 guidance to 3.000-3.200 EPS.

US Foods Stock Performance

NYSE USFD opened at $52.36 on Thursday. The firm’s 50 day simple moving average is $52.16 and its 200 day simple moving average is $47.33. The company has a current ratio of 1.30, a quick ratio of 0.78 and a debt-to-equity ratio of 0.96. US Foods has a 1 year low of $35.66 and a 1 year high of $54.94. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 0.86 and a beta of 1.58.

US Foods (NYSE:USFD) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The business had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.81 billion. US Foods had a return on equity of 13.41% and a net margin of 1.42%. As a group, research analysts expect that US Foods will post 2.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

USFD has been the topic of several research reports. StockNews.com upgraded US Foods from a buy rating to a strong-buy rating in a report on Friday, February 23rd. UBS Group upgraded shares of US Foods from a neutral rating to a buy rating and upped their price target for the company from $47.00 to $64.00 in a research report on Tuesday, February 20th. BTIG Research lifted their price target on shares of US Foods from $52.00 to $62.00 and gave the stock a buy rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. increased their price objective on US Foods from $50.00 to $52.00 and gave the company a neutral rating in a report on Tuesday, March 19th. Finally, Truist Financial lifted their target price on US Foods from $52.00 to $57.00 and gave the stock a buy rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $54.92.

Insiders Place Their Bets

In other news, EVP David A. Rickard sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $52.52, for a total transaction of $2,626,000.00. Following the completion of the sale, the executive vice president now directly owns 148,561 shares of the company’s stock, valued at $7,802,423.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

US Foods Company Profile

US Foods Holding Corp., together with its subsidiaries, engages in marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States. The company's customers include independently owned single and multi-unit restaurants, regional concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations.