Flowers Foods (NYSE:FLO) Updates FY24 Earnings Guidance

Flowers Foods (NYSE:FLO) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $1.24-1.28 for the period, compared to the consensus earnings per share estimate of $1.25. The company issued revenue guidance of $5.12-5.15 billion, compared to the consensus revenue estimate of $5.14 billion.

Wall Street Analyst Weigh In

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

Flowers Foods Stock Down 2.1 %

FLO stock opened at $22.02 on Friday. The stock’s 50 day simple moving average is $22.85 and its 200 day simple moving average is $23.03. The company has a market cap of $4.64 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 4.32 and a beta of 0.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 1.19. Flowers Foods has a fifty-two week low of $19.64 and a fifty-two week high of $26.12.

Flowers Foods (NYSE:FLO) last issued its earnings results on Friday, August 16th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Flowers Foods had a return on equity of 18.97% and a net margin of 2.51%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. Flowers Foods’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts expect that Flowers Foods will post 1.25 earnings per share for the current fiscal year.

Flowers Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Friday, September 6th. Flowers Foods’s payout ratio is presently 157.38%.

Flowers Foods Company Profile

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.