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 $1.75-$2.05 for the period, compared to the consensus earnings per share estimate of $1.90. The company issued revenue guidance of $4.60-$4.77 billion, compared to the consensus revenue estimate of $4.67 billion.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stifel Nicolaus reduced their target price on Floor & Decor from $115.00 to $110.00 and set a hold rating for the company in a research note on Monday, February 26th. Guggenheim boosted their price objective on Floor & Decor from $115.00 to $130.00 and gave the company a buy rating in a report on Tuesday, February 27th. Truist Financial increased their target price on Floor & Decor from $102.00 to $127.00 and gave the stock a buy rating in a report on Tuesday, February 20th. Wedbush restated an outperform rating and set a $125.00 price target on shares of Floor & Decor in a research note on Friday. Finally, Mizuho lowered their price objective on shares of Floor & Decor from $115.00 to $110.00 and set a neutral rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $108.76.

Floor & Decor Stock Performance

Shares of NYSE:FND traded up $0.28 during midday trading on Friday, reaching $113.04. The company had a trading volume of 2,307,069 shares, compared to its average volume of 1,240,906. The stock has a market cap of $12.07 billion, a P/E ratio of 54.61, a P/E/G ratio of 5.48 and a beta of 1.86. The company’s 50 day moving average price is $118.90 and its 200 day moving average price is $106.27. The company has a current ratio of 1.14, a quick ratio of 0.18 and a debt-to-equity ratio of 0.10. Floor & Decor has a 52-week low of $76.30 and a 52-week high of $135.67.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, May 2nd. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Floor & Decor had a net margin of 5.11% and a return on equity of 11.97%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Floor & Decor will post 1.9 EPS for the current fiscal year.

Insider Activity

In other Floor & Decor news, CFO Bryan Langley sold 5,865 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $119.86, for a total transaction of $702,978.90. Following the sale, the chief financial officer now directly owns 17,422 shares of the company’s stock, valued at $2,088,200.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Bryan Langley sold 5,865 shares of Floor & Decor stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $119.86, for a total value of $702,978.90. Following the completion of the transaction, the chief financial officer now directly owns 17,422 shares in the company, valued at $2,088,200.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas V. Taylor sold 20,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $123.11, for a total transaction of $2,462,200.00. Following the completion of the sale, the chief executive officer now directly owns 174,315 shares in the company, valued at $21,459,919.65. The disclosure for this sale can be found here. Insiders have sold 90,867 shares of company stock valued at $11,016,089 in the last 90 days. Insiders own 2.10% of the company’s stock.

Floor & Decor Company Profile

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.