Brokerages expect Flowers Foods, Inc. (NYSE:FLO) to announce $0.28 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Flowers Foods’ earnings, with estimates ranging from $0.27 to $0.29. Flowers Foods posted earnings of $0.24 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 8th.
On average, analysts expect that Flowers Foods will report full-year earnings of $1.06 per share for the current fiscal year, with EPS estimates ranging from $1.05 to $1.08. For the next year, analysts expect that the firm will post earnings of $1.14 per share, with EPS estimates ranging from $1.10 to $1.16. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Flowers Foods.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, May 16th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. Flowers Foods had a net margin of 3.58% and a return on equity of 15.87%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS.
A number of analysts recently weighed in on the company. ValuEngine upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.00 price target on shares of Flowers Foods in a research note on Thursday, May 17th. Deutsche Bank set a $24.00 price target on Flowers Foods and gave the stock a “hold” rating in a research note on Tuesday, April 17th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Finally, Consumer Edge raised Flowers Foods from a “neutral” rating to an “outperform” rating in a research note on Monday, May 21st. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Flowers Foods has an average rating of “Hold” and a consensus price target of $22.00.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piermont Capital Management Inc. boosted its holdings in Flowers Foods by 2.6% in the first quarter. Piermont Capital Management Inc. now owns 108,480 shares of the company’s stock worth $2,371,000 after acquiring an additional 2,780 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Flowers Foods by 28.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,790 shares of the company’s stock worth $280,000 after acquiring an additional 2,814 shares in the last quarter. Advisor Group Inc. boosted its holdings in Flowers Foods by 77.8% in the fourth quarter. Advisor Group Inc. now owns 6,831 shares of the company’s stock worth $132,000 after acquiring an additional 2,990 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Flowers Foods by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 208,562 shares of the company’s stock worth $4,027,000 after acquiring an additional 3,511 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Flowers Foods by 0.5% in the first quarter. Comerica Bank now owns 776,518 shares of the company’s stock worth $17,347,000 after acquiring an additional 3,576 shares in the last quarter. Institutional investors own 66.40% of the company’s stock.
NYSE:FLO opened at $20.83 on Wednesday. The company has a market capitalization of $4.35 billion, a P/E ratio of 23.40, a PEG ratio of 2.16 and a beta of 0.63. Flowers Foods has a 1-year low of $16.80 and a 1-year high of $22.82. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.63.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 21st. Investors of record on Thursday, June 7th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, June 6th. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.46%. Flowers Foods’s payout ratio is currently 80.90%.
About Flowers Foods
Flowers Foods, Inc produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Wonder, Cobblestone Bread Company, Tastykake, and Dave's Killer Bread brand names.
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