Americold Realty Trust (NYSE:COLD) Updates FY24 Earnings Guidance

Americold Realty Trust (NYSE:COLD) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.44-1.50 for the period, compared to the consensus EPS estimate of $1.44. Americold Realty Trust also updated its FY 2024 guidance to 1.440-1.500 EPS.

Americold Realty Trust Price Performance

Americold Realty Trust stock traded down $0.27 during mid-day trading on Friday, reaching $29.06. The company had a trading volume of 1,751,235 shares, compared to its average volume of 2,407,844. The business has a fifty day simple moving average of $27.31 and a 200 day simple moving average of $25.97. The company has a market cap of $8.25 billion, a P/E ratio of -24.84, a P/E/G ratio of 2.14 and a beta of 0.59. Americold Realty Trust has a fifty-two week low of $21.87 and a fifty-two week high of $33.90. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.15.

Americold Realty Trust (NYSE:COLD) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.54). The firm had revenue of $660.96 million during the quarter, compared to the consensus estimate of $653.74 million. Americold Realty Trust had a negative net margin of 12.17% and a negative return on equity of 8.55%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts predict that Americold Realty Trust will post 1.35 earnings per share for the current year.

Americold Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, June 28th. Americold Realty Trust’s dividend payout ratio (DPR) is currently -75.21%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays lifted their target price on shares of Americold Realty Trust from $25.00 to $26.00 and gave the stock an equal weight rating in a research report on Friday, May 24th. Scotiabank upgraded shares of Americold Realty Trust from a sector perform rating to a sector outperform rating and lifted their price target for the stock from $27.00 to $30.00 in a report on Thursday, May 23rd. JPMorgan Chase & Co. upgraded Americold Realty Trust from a neutral rating to an overweight rating and set a $30.00 price objective for the company in a report on Wednesday, June 26th. Wolfe Research raised Americold Realty Trust from a peer perform rating to an outperform rating and set a $31.00 target price on the stock in a report on Monday, July 1st. Finally, Wells Fargo & Company started coverage on Americold Realty Trust in a research report on Thursday, April 25th. They issued an equal weight rating and a $24.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $30.64.

Americold Realty Trust Company Profile

Americold is a global leader in temperature-controlled logistics real estate and value added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 245 temperature-controlled warehouses, with approximately 1.5 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America.