Utz Brands (NYSE:UTZ) Updates FY 2024 Earnings Guidance

Utz Brands (NYSE:UTZ) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.730-0.750 for the period, compared to the consensus earnings per share estimate of 0.740. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on UTZ shares. Needham & Company LLC restated a buy rating and issued a $22.00 price objective on shares of Utz Brands in a report on Friday, August 2nd. Piper Sandler restated an overweight rating and issued a $22.00 price target on shares of Utz Brands in a research note on Wednesday, August 21st. Finally, Barclays reduced their price objective on Utz Brands from $23.00 to $19.00 and set an overweight rating for the company in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Utz Brands presently has a consensus rating of Moderate Buy and a consensus target price of $20.36.

Utz Brands Stock Performance

UTZ stock opened at $17.64 on Friday. The stock’s 50 day simple moving average is $16.63 and its 200 day simple moving average is $17.39. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. Utz Brands has a 12-month low of $11.17 and a 12-month high of $20.04. The stock has a market capitalization of $2.48 billion, a PE ratio of -70.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The firm had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $356.23 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Dividend Announcement

The business also recently declared a None dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.011 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Utz Brands’s payout ratio is presently -92.00%.

Insider Transactions at Utz Brands

In related news, Director Bruce John Lindeman acquired 4,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the transaction, the director now directly owns 42,480 shares in the company, valued at $684,352.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.00% of the company’s stock.

Utz Brands Company Profile

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.