Kraft Heinz (NASDAQ:KHC) Updates FY24 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.01-3.07 for the period, compared to the consensus earnings per share estimate of $3.02. Kraft Heinz also updated its FY 2024 guidance to 3.010-3.010 EPS.

Kraft Heinz Stock Up 0.1 %

KHC opened at $33.49 on Friday. The stock’s 50 day moving average price is $35.15 and its 200 day moving average price is $34.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.53. The stock has a market cap of $40.49 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.30 and a beta of 0.49. Kraft Heinz has a 12 month low of $31.58 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, research analysts predict that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent analyst reports. Bank of America dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Citigroup dropped their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays cut their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday. Mizuho lowered their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Evercore ISI cut their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus target price of $37.15.

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.