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

Utz Brands (NYSE:UTZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.730-0.750 for the period, compared to the consensus EPS estimate of 0.700. The company issued revenue guidance of -.

Utz Brands Stock Up 4.4 %

Shares of Utz Brands stock traded up $0.66 during trading on Thursday, reaching $15.50. The company had a trading volume of 535,141 shares, compared to its average volume of 772,913. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -63.24, a price-to-earnings-growth ratio of 1.03 and a beta of 1.00. The firm’s fifty day moving average is $16.74 and its 200-day moving average is $17.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $20.04.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $346.50 million for the quarter, compared to analyst estimates of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 EPS. On average, analysts anticipate that Utz Brands will post 0.71 EPS for the current year.

Utz Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Monday, June 17th were paid a dividend of $0.059 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.24 annualized dividend and a yield of 1.52%. Utz Brands’s dividend payout ratio (DPR) is -96.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on UTZ. Royal Bank of Canada increased their price objective on shares of Utz Brands from $19.00 to $23.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Needham & Company LLC increased their price objective on shares of Utz Brands from $20.50 to $22.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Stephens increased their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. Mizuho upped their target price on shares of Utz Brands from $22.00 to $24.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Finally, Barclays decreased their target price on shares of 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Utz Brands presently has a consensus rating of Moderate Buy and a consensus target price of $20.08.

Insider Activity

In other news, major shareholder Series U. Of Um Partners, Llc sold 397,885 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $18.76, for a total value of $7,464,322.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Series U. Of Um Partners, Llc sold 397,885 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $18.76, for a total transaction of $7,464,322.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christina Choi sold 3,160 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $17.98, for a total transaction of $56,816.80. Following the sale, the director now owns 29,740 shares of the company’s stock, valued at $534,725.20. The disclosure for this sale can be found here. Insiders sold 431,151 shares of company stock worth $8,103,702 over the last three months. Corporate insiders own 17.00% of the company’s stock.

About Utz Brands

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.