Floor & Decor (NYSE:FND) Issues FY 2024 Earnings Guidance

Floor & Decor (NYSE:FND) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.550-1.750 for the period, compared to the consensus EPS estimate of 1.790. The company issued revenue guidance of $4.4 billion-$4.5 billion, compared to the consensus revenue estimate of $4.6 billion. Floor & Decor also updated its FY24 guidance to $1.55-$1.75 EPS.

Floor & Decor Trading Down 3.9 %

Shares of Floor & Decor stock traded down $3.85 during trading on Thursday, hitting $94.15. The company’s stock had a trading volume of 2,726,360 shares, compared to its average volume of 1,489,932. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.17 and a quick ratio of 0.21. Floor & Decor has a 52 week low of $76.30 and a 52 week high of $135.67. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 10.25 and a beta of 1.73. The stock has a 50-day moving average price of $105.18 and a two-hundred day moving average price of $111.67.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on FND shares. Evercore ISI cut their price target on shares of Floor & Decor from $120.00 to $100.00 and set an in-line rating on the stock in a research report on Tuesday, July 2nd. TD Cowen cut their price target on shares of Floor & Decor from $115.00 to $100.00 and set a hold rating on the stock in a research report on Friday, July 12th. UBS Group cut their price target on shares of Floor & Decor from $135.00 to $125.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Wedbush cut their price target on shares of 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, Truist Financial cut their price target on shares of Floor & Decor from $130.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $105.76.

Insider Buying and Selling

In other Floor & Decor news, CEO Thomas V. Taylor sold 34,199 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this link. In other Floor & Decor news, CEO Thomas V. Taylor sold 34,199 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter Starrett sold 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $118.24, for a total transaction of $591,200.00. Following the completion of the sale, the director now owns 128,189 shares of the company’s stock, valued at approximately $15,157,067.36. The disclosure for this sale can be found here. Insiders have sold 41,778 shares of company stock worth $5,182,791 in the last quarter. Insiders own 2.10% of the company’s stock.

Floor & Decor Company Profile

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.