SpartanNash (NASDAQ:SPTN) Updates FY 2024 Earnings Guidance

SpartanNash (NASDAQ:SPTN) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.850-1.950 for the period, compared to the consensus estimate of 2.020. The company issued revenue guidance of $9.5 billion-$9.7 billion, compared to the consensus revenue estimate of $9.5 billion. SpartanNash also updated its FY24 guidance to $1.85-1.95 EPS.

SpartanNash Trading Down 12.5 %

Shares of SPTN stock traded down $2.83 during trading hours on Thursday, hitting $19.76. 131,098 shares of the company were exchanged, compared to its average volume of 245,556. The firm has a fifty day moving average of $21.72 and a 200 day moving average of $20.43. The company has a quick ratio of 0.80, a current ratio of 1.62 and a debt-to-equity ratio of 0.76. SpartanNash has a 1 year low of $17.74 and a 1 year high of $24.51. The firm has a market cap of $666.70 million, a PE ratio of 14.83 and a beta of 0.39.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.27 billion. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. SpartanNash’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. Analysts expect that SpartanNash will post 1.98 earnings per share for the current year.

SpartanNash Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 23rd were given a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Monday, September 23rd. SpartanNash’s dividend payout ratio (DPR) is presently 65.41%.

Analyst Upgrades and Downgrades

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.