Americold Realty Trust (NYSE:COLD) Updates FY 2024 Earnings Guidance

Americold Realty Trust (NYSE:COLD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.440-1.500 for the period, compared to the consensus earnings per share estimate of 1.180. The company issued revenue guidance of -. Americold Realty Trust also updated its FY24 guidance to $1.44-1.50 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COLD shares. Robert W. Baird upped their price objective on shares of Americold Realty Trust from $29.00 to $31.00 and gave the stock an outperform rating in a report on Friday. Wolfe Research raised shares of Americold Realty Trust from a peer perform rating to an outperform rating and set a $31.00 target price on the stock in a research report on Monday, July 1st. Barclays lifted their price target on shares of Americold Realty Trust from $25.00 to $26.00 and gave the company an equal weight rating in a research report on Friday, May 24th. Scotiabank upgraded shares of Americold Realty Trust from a sector perform rating to a sector outperform rating and upped their price objective for the stock from $27.00 to $30.00 in a report on Thursday, May 23rd. Finally, Wells Fargo & Company initiated coverage on shares of Americold Realty Trust in a report on Thursday, April 25th. They set an equal weight rating and a $24.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $30.64.

Americold Realty Trust Stock Performance

NYSE COLD traded down $0.27 during trading hours on Friday, hitting $29.06. 1,751,235 shares of the company’s stock traded hands, compared to its average volume of 2,407,844. Americold Realty Trust has a 52 week low of $21.87 and a 52 week high of $33.90. The firm has a market capitalization of $8.25 billion, a P/E ratio of -24.84, a P/E/G ratio of 2.14 and a beta of 0.59. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $27.31 and its two-hundred day moving average price is $25.99.

Americold Realty Trust (NYSE:COLD) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.54). The business had revenue of $660.96 million for the quarter, compared to analysts’ expectations of $653.74 million. Americold Realty Trust had a negative return on equity of 8.55% and a negative net margin of 12.17%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. Equities research analysts predict that Americold Realty Trust will post 1.35 EPS for the current year.

Americold Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Friday, June 28th. Americold Realty Trust’s payout ratio is -75.21%.

About Americold Realty Trust

Americold is a global leader in temperature-controlled logistics real estate and value added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 245 temperature-controlled warehouses, with approximately 1.5 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America.