Floor & Decor (NYSE:FND) Updates FY24 Earnings Guidance

Floor & Decor (NYSE:FND) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.55-$1.75 for the period, compared to the consensus earnings per share estimate of $1.79. The company issued revenue guidance of $4.40-$4.49 billion, compared to the consensus revenue estimate of $4.57 billion. Floor & Decor also updated its FY 2024 guidance to 1.550-1.750 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Floor & Decor from $127.00 to $115.00 and set an outperform rating on the stock in a research note on Monday, July 29th. Evercore ISI dropped their price objective on Floor & Decor from $120.00 to $100.00 and set an in-line rating on the stock in a report on Tuesday, July 2nd. Telsey Advisory Group reduced their target price on Floor & Decor from $100.00 to $95.00 and set a market perform rating for the company in a research note on Friday. Guggenheim decreased their target price on Floor & Decor from $130.00 to $115.00 and set a buy rating on the stock in a research report on Friday. Finally, UBS Group cut their price target on shares of Floor & Decor from $135.00 to $125.00 and set a neutral rating for the company in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $103.32.

Floor & Decor Price Performance

NYSE FND traded up $3.75 during trading hours on Friday, hitting $97.89. 4,632,778 shares of the company’s stock traded hands, compared to its average volume of 2,302,808. Floor & Decor has a 52-week low of $76.30 and a 52-week high of $135.67. The company has a market capitalization of $10.48 billion, a PE ratio of 47.29, a PEG ratio of 10.13 and a beta of 1.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.17 and a quick ratio of 0.21. The firm’s 50-day moving average is $104.49 and its 200-day moving average is $111.55.

Floor & Decor (NYSE:FND) last posted its earnings results on Thursday, August 1st. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. Floor & Decor had a net margin of 4.78% and a return on equity of 10.85%. Floor & Decor’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. Equities analysts forecast that Floor & Decor will post 1.81 EPS for the current fiscal year.

Insider Buying and Selling at Floor & Decor

In other news, CEO Thomas V. Taylor sold 34,199 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total value of $4,274,875.00. Following the transaction, the chief executive officer now directly owns 168,386 shares in the company, valued at approximately $21,048,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Thomas V. Taylor sold 34,199 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total value of $4,274,875.00. Following the transaction, the chief executive officer now directly owns 168,386 shares in the company, valued at approximately $21,048,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter Starrett sold 1,569 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $122.61, for a total transaction of $192,375.09. Following the sale, the director now owns 118,620 shares in the company, valued at $14,543,998.20. The disclosure for this sale can be found here. Insiders have sold 41,778 shares of company stock worth $5,182,791 in the last ninety days. 2.10% of the stock is owned by insiders.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.