Floor & Decor (NYSE:FND) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Floor & Decor (NYSE:FNDGet Rating) released its earnings results on Thursday. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03, Briefing.com reports. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Floor & Decor had a return on equity of 20.21% and a net margin of 7.57%. The firm’s revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. Floor & Decor updated its FY 2022 guidance to $2.65-$2.80 EPS and its FY22 guidance to $2.65 to $2.80 EPS.

Floor & Decor Price Performance

Floor & Decor stock traded up $11.06 during midday trading on Friday, reaching $92.92. The company had a trading volume of 3,368,671 shares, compared to its average volume of 1,332,554. The company has a market capitalization of $9.84 billion, a P/E ratio of 36.02, a P/E/G ratio of 1.22 and a beta of 1.85. Floor & Decor has a 12-month low of $59.91 and a 12-month high of $145.89. The firm’s fifty day simple moving average is $72.97 and its 200-day simple moving average is $83.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.21 and a quick ratio of 0.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC lifted its stake in Floor & Decor by 1.3% in the 1st quarter. Lazard Asset Management LLC now owns 10,982 shares of the company’s stock worth $889,000 after purchasing an additional 141 shares in the last quarter. Prudential Financial Inc. lifted its stake in Floor & Decor by 2.0% in the 1st quarter. Prudential Financial Inc. now owns 11,120 shares of the company’s stock worth $900,000 after purchasing an additional 216 shares in the last quarter. Mather Group LLC. lifted its stake in Floor & Decor by 14.2% in the 1st quarter. Mather Group LLC. now owns 2,884 shares of the company’s stock worth $234,000 after purchasing an additional 358 shares in the last quarter. Roundview Capital LLC lifted its stake in Floor & Decor by 3.3% in the 1st quarter. Roundview Capital LLC now owns 12,671 shares of the company’s stock worth $1,026,000 after purchasing an additional 404 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Floor & Decor by 168.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 730 shares of the company’s stock worth $59,000 after purchasing an additional 458 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FND has been the topic of several analyst reports. MKM Partners initiated coverage on Floor & Decor in a research report on Thursday, June 23rd. They set a “neutral” rating and a $65.00 price target on the stock. Wedbush cut their price target on Floor & Decor from $130.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, May 6th. The Goldman Sachs Group downgraded Floor & Decor from a “buy” rating to a “neutral” rating and cut their price target for the stock from $109.00 to $64.00 in a research report on Monday, June 27th. Morgan Stanley cut their price target on Floor & Decor from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Finally, Citigroup cut their price target on Floor & Decor from $137.00 to $106.00 in a research report on Friday, May 13th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.07.

Floor & Decor Company Profile

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Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer and commercial flooring distributor of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories.

Further Reading

Earnings History for Floor & Decor (NYSE:FND)

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