FY2023 EPS Estimates for Floor & Decor Holdings, Inc. Reduced by Analyst (NYSE:FND)

Floor & Decor Holdings, Inc. (NYSE:FND) – Wedbush dropped their FY2023 earnings per share estimates for shares of Floor & Decor in a research report issued to clients and investors on Friday, November 3rd. Wedbush analyst S. Basham now forecasts that the company will post earnings of $2.18 per share for the year, down from their prior estimate of $2.36. Wedbush currently has a “Outperform” rating and a $85.00 target price on the stock. The consensus estimate for Floor & Decor’s current full-year earnings is $2.38 per share. Wedbush also issued estimates for Floor & Decor’s Q1 2024 earnings at $0.54 EPS, Q2 2024 earnings at $0.60 EPS and Q3 2024 earnings at $0.63 EPS.

Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. Floor & Decor had a net margin of 6.55% and a return on equity of 16.94%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business earned $0.76 earnings per share. Floor & Decor’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Several other analysts have also commented on the stock. Barclays cut their target price on shares of Floor & Decor from $88.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, October 12th. Telsey Advisory Group reduced their price objective on Floor & Decor from $90.00 to $75.00 and set a “market perform” rating for the company in a research note on Friday. Wells Fargo & Company cut their target price on Floor & Decor from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Robert W. Baird reduced their target price on Floor & Decor from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Finally, Jefferies Financial Group dropped their price target on Floor & Decor from $100.00 to $93.00 and set a “hold” rating on the stock in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Floor & Decor presently has a consensus rating of “Hold” and an average target price of $94.28.

Floor & Decor Stock Performance

NYSE:FND opened at $80.75 on Monday. The company has a 50-day moving average of $89.15 and a 200-day moving average of $96.22. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 2.07 and a beta of 1.95. The company has a current ratio of 1.20, a quick ratio of 0.15 and a debt-to-equity ratio of 0.13. Floor & Decor has a twelve month low of $65.14 and a twelve month high of $116.03.

Hedge Funds Weigh In On Floor & Decor

A number of hedge funds have recently modified their holdings of FND. Baillie Gifford & Co. grew its stake in Floor & Decor by 8,320.1% in the first quarter. Baillie Gifford & Co. now owns 2,584,646 shares of the company’s stock valued at $253,864,000 after purchasing an additional 2,553,950 shares in the last quarter. BlackRock Inc. grew its stake in shares of Floor & Decor by 19.1% in the 2nd quarter. BlackRock Inc. now owns 9,468,096 shares of the company’s stock valued at $984,303,000 after buying an additional 1,519,603 shares in the last quarter. FMR LLC increased its holdings in Floor & Decor by 38.2% in the first quarter. FMR LLC now owns 3,661,808 shares of the company’s stock worth $359,663,000 after buying an additional 1,012,206 shares during the last quarter. Capital Research Global Investors increased its holdings in Floor & Decor by 39.7% in the second quarter. Capital Research Global Investors now owns 2,481,257 shares of the company’s stock worth $257,951,000 after buying an additional 705,451 shares during the last quarter. Finally, Barclays PLC raised its position in Floor & Decor by 146.1% during the second quarter. Barclays PLC now owns 148,670 shares of the company’s stock valued at $15,456,000 after acquiring an additional 470,966 shares in the last quarter.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer and commercial flooring distributor in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools.