SpartanNash (NASDAQ:SPTN) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

SpartanNash (NASDAQ:SPTN) announced its earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01, Briefing.com reports. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. SpartanNash updated its FY24 guidance to $1.85-1.95 EPS and its FY 2024 guidance to 1.850-1.950 EPS.

SpartanNash Trading Down 4.1 %

Shares of NASDAQ:SPTN traded down $0.81 during trading on Friday, reaching $18.97. 238,545 shares of the stock were exchanged, compared to its average volume of 248,289. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.62. SpartanNash has a 12-month low of $17.74 and a 12-month high of $24.51. The firm has a market cap of $640.14 million, a price-to-earnings ratio of 14.42 and a beta of 0.39. The firm’s 50-day moving average price is $21.68 and its 200 day moving average price is $20.43.

SpartanNash Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 23rd were issued a $0.218 dividend. This represents a $0.87 annualized dividend and a yield of 4.60%. The ex-dividend date was Monday, September 23rd. SpartanNash’s dividend payout ratio (DPR) is 65.41%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th.

About SpartanNash

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.