Kraft Heinz (KHC) to Release Quarterly 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 interested in registering for the company’s earnings conference call can do so using this link.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, beating 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 firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was down 7.1% on a year-over-year basis. 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 Trading Down 0.2 %

NASDAQ KHC opened at $38.07 on Wednesday. The business’s 50-day moving average price is $35.98 and its two-hundred day moving average price is $35.48. Kraft Heinz has a 12 month low of $30.68 and a 12 month high of $41.47. The firm has a market capitalization of $46.28 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given 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 dividend yield of 4.20%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.26%.

Wall Street Analyst Weigh In

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