Kraft Heinz (NASDAQ:KHC) Releases FY 2024 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.010-3.010 for the period, compared to the consensus estimate of 3.020. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Kraft Heinz Trading Up 0.1 %

KHC opened at $33.49 on Friday. The stock’s fifty day moving average is $35.15 and its two-hundred day moving average is $34.83. The company has a market capitalization of $40.49 billion, a P/E ratio of 30.17, a PEG ratio of 3.30 and a beta of 0.49. Kraft Heinz has a 52 week low of $31.58 and a 52 week high of $38.96. The company has a quick ratio of 0.53, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. Analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.78%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KHC shares. Barclays lowered their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $35.00 in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Bank of America lowered their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Piper Sandler decreased their target price on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average target price of $37.15.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.