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 -.

Utz Brands Stock Down 2.8 %

Shares of NYSE UTZ opened at $17.64 on Monday. Utz Brands has a 52-week low of $11.17 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. The company’s 50 day moving average price is $16.63 and its 200-day moving average price is $17.39. The company has a market capitalization of $2.48 billion, a P/E ratio of -70.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01.

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

Utz Brands Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on UTZ. Needham & Company LLC reissued a buy rating and issued a $22.00 price target on shares of Utz Brands in a research note on Friday, August 2nd. Piper Sandler reiterated an overweight rating and issued a $22.00 price objective on shares of Utz Brands in a research note on Wednesday, August 21st. Finally, Barclays cut their target price on shares of Utz Brands from $23.00 to $19.00 and set an overweight rating on the stock in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $20.36.

Insider Buying and Selling

In other Utz Brands news, Director Bruce John Lindeman purchased 4,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the purchase, the director now owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.00% of the stock is owned by company insiders.

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.