US Foods (NYSE:USFD) Issues FY24 Earnings Guidance

US Foods (NYSE:USFD) updated its FY24 earnings guidance on Thursday. 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 $37.79 billion. US Foods also updated its FY 2024 guidance to 3.000-3.200 EPS.

US Foods Price Performance

NYSE USFD opened at $52.36 on Thursday. The stock has a market capitalization of $12.84 billion, a P/E ratio of 25.92, a P/E/G ratio of 0.86 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.78 and a current ratio of 1.30. The business’s fifty day moving average is $52.16 and its two-hundred day moving average is $47.33. US Foods has a 1 year low of $35.66 and a 1 year high of $54.94.

US Foods (NYSE:USFD) last announced its earnings results on Thursday, February 15th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.81 billion. US Foods had a net margin of 1.42% and a return on equity of 13.41%. On average, research analysts forecast that US Foods will post 2.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of US Foods from $52.00 to $57.00 and gave the stock a buy rating in a research report on Tuesday, February 20th. Piper Sandler upgraded shares of US Foods from a neutral rating to an overweight rating and raised their price target for the stock from $45.00 to $59.00 in a report on Tuesday, February 20th. BTIG Research lifted their target price on shares of US Foods from $52.00 to $62.00 and gave the company a buy rating in a research note on Tuesday, March 19th. BMO Capital Markets upped their price target on shares of US Foods from $50.00 to $58.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. boosted their target price on US Foods from $50.00 to $52.00 and gave the company a neutral rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Buy and an average target price of $54.92.

Insider Activity at US Foods

In related news, EVP David A. Rickard sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $52.52, for a total value of $2,626,000.00. Following the transaction, the executive vice president now directly owns 148,561 shares in the company, valued at approximately $7,802,423.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by company insiders.

US Foods Company Profile

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.