Kraft Heinz (KHC) Set to Announce Earnings on Wednesday

Kraft Heinz (NASDAQ:KHC) is scheduled to release its earnings data before the market opens on Wednesday, May 1st. Analysts expect Kraft Heinz to post earnings of $0.68 per share for the quarter. Kraft Heinz has set its FY24 guidance at $3.01-3.07 EPS and its FY 2024 guidance at 3.010-3.070 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same period last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, analysts expect Kraft Heinz to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $38.65 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $36.28 and a two-hundred day moving average of $35.65. Kraft Heinz has a 52 week low of $30.68 and a 52 week high of $41.47. The company has a market cap of $46.98 billion, a P/E ratio of 16.73, a PEG ratio of 3.01 and a beta of 0.67.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.14%. Kraft Heinz’s payout ratio is currently 69.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KHC. Citigroup began coverage on Kraft Heinz in a research note on Thursday, February 1st. They issued a “buy” rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their target price on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Bank of America boosted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average price target of $40.57.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.