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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays upped their price target on Americold Realty Trust from $25.00 to $26.00 and gave the stock an equal weight rating in a report on Friday, May 24th. Wolfe Research raised shares of Americold Realty Trust from a peer perform rating to an outperform rating and set a $31.00 price target for the company in a report on Monday, July 1st. Robert W. Baird boosted their price objective on shares of Americold Realty Trust from $29.00 to $31.00 and gave the stock an outperform rating in a report on Friday. Wells Fargo & Company assumed coverage on Americold Realty Trust in a research note on Thursday, April 25th. They set an equal weight rating and a $24.00 target price for the company. Finally, Scotiabank upgraded Americold Realty Trust from a sector perform rating to a sector outperform rating and boosted their price target for the stock from $27.00 to $30.00 in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Americold Realty Trust has an average rating of Moderate Buy and an average price target of $30.64.

Americold Realty Trust Stock Performance

COLD stock traded down $0.27 on Friday, reaching $29.06. The company’s stock had a trading volume of 1,751,235 shares, compared to its average volume of 2,407,844. The firm has a fifty day moving average of $27.31 and a two-hundred day moving average of $25.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $8.25 billion, a P/E ratio of -24.84, a price-to-earnings-growth ratio of 2.14 and a beta of 0.59. Americold Realty Trust has a 52 week low of $21.87 and a 52 week high of $33.90.

Americold Realty Trust (NYSE:COLD) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.54). The company had revenue of $660.96 million for the quarter, compared to analyst estimates of $653.74 million. Americold Realty Trust had a negative net margin of 12.17% and a negative return on equity of 8.55%. Americold Realty Trust’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. As a group, analysts predict that Americold Realty Trust will post 1.35 EPS for the current fiscal year.

Americold Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, June 28th. Americold Realty Trust’s payout ratio is -75.21%.

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.