Albertsons Companies (NYSE:ACI) Updates FY23 Earnings Guidance

Albertsons Companies (NYSE:ACIGet Rating) issued an update on its FY23 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.70-2.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.78. Albertsons Companies also updated its FY 2022 guidance to $2.700-$2.850 EPS.

NYSE ACI opened at $34.78 on Tuesday. The company has a 50-day moving average price of $32.38 and a 200-day moving average price of $31.55. The firm has a market capitalization of $16.25 billion, a P/E ratio of 20.83, a PEG ratio of 1.56 and a beta of 0.11. Albertsons Companies has a 52 week low of $17.73 and a 52 week high of $37.99. The company has a quick ratio of 0.50, a current ratio of 1.12 and a debt-to-equity ratio of 3.43.

Albertsons Companies (NYSE:ACIGet Rating) last released its earnings results on Tuesday, January 11th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.20. The company had revenue of $16.73 billion during the quarter, compared to analyst estimates of $16.04 billion. Albertsons Companies had a net margin of 1.45% and a return on equity of 92.76%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. As a group, equities research analysts anticipate that Albertsons Companies will post 2.87 EPS for the current year.

Several research firms recently issued reports on ACI. MKM Partners increased their target price on shares of Albertsons Companies from $31.00 to $33.00 in a report on Thursday, January 13th. UBS Group increased their target price on shares of Albertsons Companies from $31.00 to $37.00 and gave the stock a neutral rating in a report on Monday. Telsey Advisory Group upped their price target on Albertsons Companies from $35.00 to $37.00 and gave the stock an outperform rating in a research note on Friday, January 7th. Morgan Stanley upped their price target on Albertsons Companies from $24.00 to $26.00 and gave the stock an underweight rating in a research note on Wednesday, January 12th. Finally, Barclays upped their price target on Albertsons Companies from $30.00 to $32.00 and gave the stock an equal weight rating in a research note on Wednesday, January 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Albertsons Companies has a consensus rating of Hold and a consensus price target of $30.85.

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Albertsons Companies in the fourth quarter worth $5,011,000. Sei Investments Co. lifted its position in Albertsons Companies by 2.6% in the fourth quarter. Sei Investments Co. now owns 161,931 shares of the company’s stock worth $4,786,000 after buying an additional 4,177 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Albertsons Companies by 19.9% in the fourth quarter. Parametric Portfolio Associates LLC now owns 156,189 shares of the company’s stock worth $4,715,000 after buying an additional 25,892 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Albertsons Companies by 254.0% in the fourth quarter. Allianz Asset Management GmbH now owns 124,377 shares of the company’s stock worth $3,755,000 after buying an additional 89,242 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Albertsons Companies by 12.3% in the fourth quarter. Legal & General Group Plc now owns 123,244 shares of the company’s stock worth $3,721,000 after buying an additional 13,510 shares during the last quarter. Institutional investors own 58.30% of the company’s stock.

About Albertsons Companies (Get Rating)

Albertsons Companies, Inc, through its subsidiaries, engages in the operation of food and drug stores in the United States. The company's food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. As of February 27, 2021, it operated 2,277 stores under various banners, including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, United Supermarkets, Market Street, Haggen, Kings Food Markets, and Balducci's Food Lovers Market; and 1,727 pharmacies, 1,313 in-store branded coffee shops, 400 adjacent fuel centers, 22 distribution centers, and 20 manufacturing facilities, as well as various digital platforms.

See Also

Earnings History and Estimates for Albertsons Companies (NYSE:ACI)

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