US Foods (NYSE:USFD) Issues FY 2024 Earnings Guidance

US Foods (NYSE:USFD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.050-3.150 for the period, compared to the consensus estimate of 3.080. The company issued revenue guidance of $37.7 billion-$38.0 billion, compared to the consensus revenue estimate of $37.8 billion.

US Foods Price Performance

US Foods stock opened at $65.79 on Thursday. The business has a 50 day simple moving average of $60.93 and a 200-day simple moving average of $56.02. US Foods has a 12 month low of $40.23 and a 12 month high of $66.66. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.29 and a quick ratio of 0.81. The stock has a market capitalization of $16.09 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66.

US Foods (NYSE:USFD) last released its earnings results on Thursday, August 8th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. US Foods had a net margin of 1.42% and a return on equity of 13.43%. The company had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter last year, the business earned $0.73 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Equities analysts predict that US Foods will post 2.9 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on USFD shares. Deutsche Bank Aktiengesellschaft boosted their target price on US Foods from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group increased their price objective on US Foods from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of US Foods from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company increased their price target on shares of US Foods from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Finally, StockNews.com raised shares of US Foods from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $66.82.

Insider Buying and Selling

In other US Foods news, CFO Dirk J. Locascio sold 10,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $57.95, for a total transaction of $579,500.00. Following the sale, the chief financial officer now owns 88,563 shares in the company, valued at approximately $5,132,225.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

US Foods Company Profile

US Foods Holding Corp., together with its subsidiaries, engages in marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States. The company's customers include independently owned single and multi-unit restaurants, regional concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations.