Flowers Foods (NYSE:FLO) Releases FY 2024 Earnings Guidance

Flowers Foods (NYSE:FLO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.240-1.280 for the period, compared to the consensus estimate of 1.250. The company issued revenue guidance of $5.1 billion-$5.1 billion, compared to the consensus revenue estimate of $5.1 billion. Flowers Foods also updated its FY24 guidance to $1.24-1.28 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Flowers Foods from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.75.

Flowers Foods Trading Down 2.7 %

NYSE FLO traded down $0.59 during trading on Friday, hitting $21.44. The stock had a trading volume of 2,655,462 shares, compared to its average volume of 925,562. Flowers Foods has a one year low of $19.64 and a one year high of $26.12. The stock has a 50 day simple moving average of $22.81 and a 200 day simple moving average of $22.99. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 4.37 and a beta of 0.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 1.19.

Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.20 billion. Flowers Foods had a return on equity of 18.97% and a net margin of 2.51%. Flowers Foods’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. Sell-side analysts predict that Flowers Foods will post 1.25 earnings per share for the current year.

Flowers Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Friday, September 6th. Flowers Foods’s dividend payout ratio is presently 157.38%.

About Flowers Foods

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.