Utz Brands (UTZ) Set to Announce Earnings on Thursday

Utz Brands (NYSE:UTZ) will release its earnings data before the market opens on Thursday, May 2nd. Analysts expect Utz Brands to post earnings of $0.13 per share for the quarter. Utz Brands has set its FY 2024 guidance at 0.660-0.690 EPS and its FY24 guidance at $0.66-$0.69 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Utz Brands had a negative net margin of 1.73% and a positive return on equity of 6.08%. The company had revenue of $352.10 million for the quarter, compared to analysts’ expectations of $354.63 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, analysts expect Utz Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Utz Brands Stock Up 2.7 %

NYSE UTZ opened at $18.75 on Thursday. The stock’s 50 day moving average is $18.06 and its 200 day moving average is $15.87. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.65. Utz Brands has a 12 month low of $11.17 and a 12 month high of $19.21. The stock has a market cap of $2.64 billion, a PE ratio of -60.48, a P/E/G ratio of 1.62 and a beta of 0.97.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 2nd. Investors of record on Monday, April 15th will be issued a $0.059 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 1.26%. Utz Brands’s payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of research firms recently commented on UTZ. Bank of America raised Utz Brands from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $22.00 in a report on Thursday, March 14th. Needham & Company LLC upped their price objective on Utz Brands from $20.00 to $20.50 and gave the stock a “buy” rating in a report on Friday, March 1st. Truist Financial upped their price objective on Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Mizuho upped their price objective on Utz Brands from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Piper Sandler upped their price objective on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.63.

Insider Activity

In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $19.13, for a total value of $72,407.05. Following the transaction, the director now owns 3,399,470 shares of the company’s stock, valued at approximately $65,031,861.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Utz Brands news, Director Roger K. Deromedi sold 7,010 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $19.07, for a total value of $133,680.70. Following the transaction, the director now owns 3,440,347 shares of the company’s stock, valued at approximately $65,607,417.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger K. Deromedi sold 3,785 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the transaction, the director now directly owns 3,399,470 shares in the company, valued at approximately $65,031,861.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 609,181 shares of company stock valued at $10,754,925. 17.00% of the stock is currently owned by insiders.

Utz Brands Company Profile

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.