Analysts Expect Utz Brands, Inc. (NYSE:UTZ) Will Announce Earnings of $0.11 Per Share

Equities analysts forecast that Utz Brands, Inc. (NYSE:UTZ – Get Rating) will announce earnings per share of $0.11 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Utz Brands’ earnings. The highest EPS estimate is $0.12 and the lowest is $0.10. Utz Brands posted earnings of $0.13 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 15.4%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Utz Brands will report full year earnings of $0.50 per share for the current fiscal year, with EPS estimates ranging from $0.44 to $0.55. For the next fiscal year, analysts forecast that the firm will post earnings of $0.59 per share, with EPS estimates ranging from $0.49 to $0.66. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Utz Brands.

Utz Brands (NYSE:UTZ – Get Rating) last announced its earnings results on Thursday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Utz Brands had a return on equity of 5.20% and a net margin of 2.04%. The business had revenue of $340.80 million during the quarter, compared to analyst estimates of $311.08 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year.

UTZ has been the subject of a number of research reports. Credit Suisse Group lowered Utz Brands from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $16.50 in a report on Tuesday, April 12th. Zacks Investment Research upgraded Utz Brands from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Finally, Oppenheimer lowered Utz Brands from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.17.

In related news, CEO Dylan Lissette purchased 7,374 shares of the business’s stock in a transaction on Monday, March 7th. The shares were bought at an average cost of $13.77 per share, with a total value of $101,539.98. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ajay Kataria purchased 7,000 shares of the business’s stock in a transaction on Monday, March 7th. The shares were bought at an average cost of $13.79 per share, for a total transaction of $96,530.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 53,376 shares of company stock worth $729,833. Insiders own 17.32% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new stake in shares of Utz Brands during the 4th quarter valued at approximately $31,000. Newton One Investments LLC purchased a new position in Utz Brands during the first quarter worth about $30,000. Harbor Investment Advisory LLC boosted its position in Utz Brands by 918.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,749 shares of the company’s stock worth $44,000 after acquiring an additional 2,479 shares during the last quarter. KB Financial Partners LLC acquired a new stake in Utz Brands during the fourth quarter worth approximately $55,000. Finally, Parallel Advisors LLC boosted its position in Utz Brands by 62.3% during the fourth quarter. Parallel Advisors LLC now owns 8,472 shares of the company’s stock worth $135,000 after acquiring an additional 3,251 shares during the last quarter. 44.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE UTZ opened at $14.21 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.53. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 4.26 and a beta of 0.64. The stock has a 50 day moving average price of $14.25 and a 200 day moving average price of $15.31. Utz Brands has a 52-week low of $12.06 and a 52-week high of $25.42.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 28th. Stockholders of record on Monday, April 18th were given a dividend of $0.054 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, April 14th. Utz Brands’s payout ratio is presently 75.86%.

About Utz Brands (Get Rating)

Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.

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