YETI (NYSE:YETI) Updates FY 2024 Earnings Guidance

YETI (NYSE:YETI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.650-2.650 for the period, compared to the consensus earnings per share estimate of 2.640. The company issued revenue guidance of $1.8 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. YETI also updated its FY24 guidance to $2.65 EPS.

YETI Price Performance

NYSE YETI traded up $2.24 on Thursday, hitting $38.37. The company had a trading volume of 1,678,242 shares, compared to its average volume of 1,591,970. The company has a market capitalization of $3.25 billion, a PE ratio of 18.02, a PEG ratio of 1.07 and a beta of 2.12. The company’s fifty day moving average price is $38.80 and its 200-day moving average price is $39.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.22. YETI has a 12-month low of $33.41 and a 12-month high of $54.15.

YETI (NYSE:YETI) last announced its earnings results on Thursday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. YETI had a net margin of 10.66% and a return on equity of 28.83%. The company had revenue of $463.50 million for the quarter, compared to analysts’ expectations of $452.42 million. During the same quarter in the previous year, the company posted $0.51 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, analysts predict that YETI will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and set a $44.00 target price on shares of YETI in a research note on Monday, September 30th. B. Riley upped their target price on shares of YETI from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. TD Cowen upped their target price on shares of YETI from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Roth Mkm boosted their price target on shares of YETI from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, Bank of America lowered shares of YETI from a “buy” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $40.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.62.

YETI Company Profile

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.