YETI (NYSE:YETI) Releases FY24 Earnings Guidance

YETI (NYSE:YETI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.61-$2.65 for the period, compared to the consensus estimate of $2.58. YETI also updated its FY 2024 guidance to 2.610-2.650 EPS.

YETI Stock Performance

Shares of NYSE:YETI traded down $2.14 during trading hours on Friday, hitting $40.98. The stock had a trading volume of 2,681,010 shares, compared to its average volume of 1,628,928. YETI has a 1-year low of $33.88 and a 1-year high of $54.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.14 and a current ratio of 2.35. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.16 and a beta of 2.14. The stock’s fifty day simple moving average is $39.74 and its 200 day simple moving average is $39.54.

YETI (NYSE:YETI) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. YETI had a net margin of 10.32% and a return on equity of 28.81%. The business had revenue of $341.39 million for the quarter, compared to analyst estimates of $333.79 million. Sell-side analysts anticipate that YETI will post 2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on YETI shares. KeyCorp raised their price objective on shares of YETI from $36.00 to $38.00 and gave the company an underweight rating in a research note on Friday. Bank of America upgraded shares of YETI from a neutral rating to a buy rating and raised their price objective for the company from $46.00 to $55.00 in a research note on Thursday. Jefferies Financial Group raised their price objective on shares of YETI from $54.00 to $55.00 and gave the company a buy rating in a research note on Thursday, July 18th. TD Cowen raised their target price on shares of YETI from $43.00 to $46.00 and gave the stock a hold rating in a report on Friday. Finally, Citigroup reduced their target price on shares of YETI from $49.00 to $47.00 and set a buy rating for the company in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, YETI has a consensus rating of Hold and a consensus price target of $47.20.

YETI Company Profile

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.