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

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

SpartanNash Stock Performance

SPTN stock traded down $0.77 during midday trading on Friday, reaching $19.01. 250,637 shares of the company’s stock traded hands, compared to its average volume of 248,344. The company has a current ratio of 1.62, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. SpartanNash has a 52-week low of $17.74 and a 52-week high of $24.51. The stock has a market cap of $641.49 million, a P/E ratio of 14.42 and a beta of 0.39. The stock’s 50-day moving average is $21.68 and its 200 day moving average is $20.43.

SpartanNash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 23rd were issued a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Monday, September 23rd. SpartanNash’s payout ratio is 65.41%.

Wall Street Analysts Forecast Growth

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

SpartanNash Company Profile

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.