Flowers Foods (NYSE:FLO) Releases FY 2024 Earnings Guidance

Flowers Foods (NYSE:FLO) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 1.240-1.280 for the period, compared to the consensus EPS estimate of 1.250. The company issued revenue guidance of $5.1 billion-$5.1 billion, compared to the consensus revenue estimate of $5.1 billion. Flowers Foods also updated its FY24 guidance to $1.24-1.28 EPS.

Flowers Foods Stock Performance

Shares of FLO stock traded down $0.59 during mid-day trading on Friday, reaching $21.44. 2,655,462 shares of the company’s stock traded hands, compared to its average volume of 925,562. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 1.19. The firm has a market capitalization of $4.52 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 4.37 and a beta of 0.36. Flowers Foods has a 12 month low of $19.64 and a 12 month high of $26.12. The firm has a 50 day moving average price of $22.81 and a two-hundred day moving average price of $22.99.

Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Flowers Foods had a return on equity of 18.97% and a net margin of 2.51%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts forecast that Flowers Foods will post 1.25 EPS for the current year.

Flowers Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.24 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.48%. Flowers Foods’s payout ratio is currently 157.38%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Flowers Foods from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.75.

About Flowers Foods

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.