Floor & Decor (NYSE:FND) Updates FY24 Earnings Guidance

Floor & Decor (NYSE:FND) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.55-$1.75 for the period, compared to the consensus earnings per share estimate of $1.79. The company issued revenue guidance of $4.40-$4.49 billion, compared to the consensus revenue estimate of $4.57 billion.

Floor & Decor Stock Down 3.9 %

NYSE:FND traded down $3.86 during mid-day trading on Thursday, hitting $94.14. The company had a trading volume of 2,657,872 shares, compared to its average volume of 1,489,472. Floor & Decor has a 1 year low of $76.30 and a 1 year high of $135.67. The business has a fifty day simple moving average of $105.18 and a 200-day simple moving average of $111.67. The company has a current ratio of 1.17, a quick ratio of 0.21 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 10.25 and a beta of 1.73.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Floor & Decor had a return on equity of 11.80% and a net margin of 5.11%. Floor & Decor’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. Equities analysts forecast that Floor & Decor will post 1.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

FND has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Floor & Decor from $125.00 to $95.00 and set an equal weight rating for the company in a report on Friday, July 26th. Robert W. Baird dropped their target price on Floor & Decor from $127.00 to $115.00 and set an outperform rating on the stock in a research report on Monday. Telsey Advisory Group reduced their price target on Floor & Decor from $110.00 to $100.00 and set a market perform rating for the company in a report on Wednesday, July 24th. Wedbush cut their target price on Floor & Decor from $125.00 to $110.00 and set an outperform rating on the stock in a research report on Monday, July 22nd. Finally, UBS Group reduced their price objective on shares of Floor & Decor from $135.00 to $125.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $105.76.

Insider Activity at Floor & Decor

In other news, EVP Steven Alan Denny sold 1,010 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $123.11, for a total value of $124,341.10. Following the sale, the executive vice president now owns 12,911 shares of the company’s stock, valued at approximately $1,589,473.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Thomas V. Taylor sold 34,199 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $125.00, for a total transaction of $4,274,875.00. Following the completion of the sale, the chief executive officer now owns 168,386 shares in the company, valued at approximately $21,048,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Alan Denny sold 1,010 shares of Floor & Decor stock in a transaction on Monday, May 13th. The stock was sold at an average price of $123.11, for a total value of $124,341.10. Following the completion of the transaction, the executive vice president now owns 12,911 shares in the company, valued at $1,589,473.21. The disclosure for this sale can be found here. Insiders have sold 41,778 shares of company stock worth $5,182,791 over the last quarter. 2.10% of the stock is currently owned by company insiders.

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.