US Foods (NYSE:USFD) Issues FY24 Earnings Guidance

US Foods (NYSE:USFD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.00-3.20 for the period, compared to the consensus estimate of $3.11. The company issued revenue guidance of $37.5-38.5 billion, compared to the consensus revenue estimate of $37.84 billion.

US Foods Trading Up 1.4 %

Shares of USFD traded up $0.72 during mid-day trading on Friday, reaching $52.03. The company’s stock had a trading volume of 2,912,037 shares, compared to its average volume of 1,783,656. The stock has a market cap of $12.79 billion, a PE ratio of 25.63, a P/E/G ratio of 0.84 and a beta of 1.62. The company’s fifty day moving average price is $52.73 and its two-hundred day moving average price is $51.82. US Foods has a 52 week low of $35.66 and a 52 week high of $55.98. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95.

US Foods (NYSE:USFD) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.93 billion. US Foods had a net margin of 1.41% and a return on equity of 13.08%. On average, analysts predict that US Foods will post 2.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial upped their price objective on US Foods from $65.00 to $66.00 and gave the company a buy rating in a research report on Thursday, June 6th. Piper Sandler raised their price target on US Foods from $59.00 to $61.00 and gave the stock an overweight rating in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on US Foods from $72.00 to $75.00 and gave the stock a buy rating in a report on Friday. JPMorgan Chase & Co. raised their target price on US Foods from $52.00 to $58.00 and gave the stock a neutral rating in a research report on Monday, June 3rd. Finally, Barclays upped their price target on shares of US Foods from $60.00 to $64.00 and gave the company an overweight rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Buy and an average target price of $64.50.

About US Foods

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.