Krispy Kreme (NASDAQ:DNUT) Updates FY 2024 Earnings Guidance

Krispy Kreme (NASDAQ:DNUT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.240-0.280 for the period, compared to the consensus earnings per share estimate of 0.270. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.8 billion.

Krispy Kreme Stock Performance

DNUT stock traded up $0.14 during trading hours on Friday, reaching $10.58. The stock had a trading volume of 1,988,288 shares, compared to its average volume of 2,339,479. The stock has a market capitalization of $1.78 billion, a PE ratio of -39.19, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27. The stock has a 50-day simple moving average of $10.72 and a 200 day simple moving average of $12.23. Krispy Kreme has a fifty-two week low of $9.18 and a fifty-two week high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $442.70 million during the quarter, compared to analysts’ expectations of $433.87 million. Krispy Kreme had a negative net margin of 2.70% and a positive return on equity of 1.40%. Analysts predict that Krispy Kreme will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DNUT has been the subject of a number of research reports. Hsbc Global Res upgraded shares of Krispy Kreme from a hold rating to a strong-buy rating in a research note on Tuesday, July 23rd. HSBC raised shares of Krispy Kreme from a hold rating to a buy rating and set a $14.00 target price on the stock in a report on Tuesday, July 23rd. Bank of America decreased their target price on shares of Krispy Kreme from $19.00 to $16.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Truist Financial upgraded shares of Krispy Kreme from a hold rating to a buy rating and raised their price target for the company from $13.00 to $15.00 in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Krispy Kreme in a research note on Monday, June 3rd. They issued an overweight rating and a $14.00 price target on the stock. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Krispy Kreme has a consensus rating of Moderate Buy and an average target price of $16.25.

Krispy Kreme Company Profile

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.