Kraft Heinz (NASDAQ:KHC) Issues FY 2024 Earnings Guidance

Kraft Heinz (NASDAQ:KHC - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.010-3.070 for the period, compared to the consensus earnings per share estimate of 3.040. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Bank of America increased their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a buy rating in a research note on Monday, April 15th. Citigroup began coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They issued a buy rating and a $43.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating for the company in a research report on Thursday, February 15th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $40.57.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded down $2.33 during midday trading on Wednesday, hitting $36.28. The company's stock had a trading volume of 15,580,672 shares, compared to its average volume of 8,118,914. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The stock's 50 day simple moving average is $36.34 and its 200 day simple moving average is $35.74. The stock has a market capitalization of $44.10 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.05 and a beta of 0.67. Kraft Heinz has a fifty-two week low of $30.68 and a fifty-two week high of $41.47.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same quarter last year, the firm posted $0.85 EPS. The company's revenue was down 7.1% on a year-over-year basis. As a group, research analysts anticipate that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.41%. Kraft Heinz's dividend payout ratio (DPR) is presently 69.26%.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.