Kraft Heinz (KHC) Set to Announce Quarterly Earnings on Wednesday

Kraft Heinz (NASDAQ:KHC) will announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce 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.Parties that are interested in participating in the company’s conference call can do so using this link.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same period last year, the firm posted $0.85 EPS. The firm’s revenue for the quarter 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 Stock Performance

NASDAQ:KHC opened at $38.16 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $36.20 and a two-hundred day moving average price of $35.61. Kraft Heinz has a twelve month low of $30.68 and a twelve month high of $41.47. The company has a market capitalization of $46.39 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 3.01 and a beta of 0.67.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.19%. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.26%.

Analysts Set New Price Targets

KHC has been the subject of several recent research reports. Bank of America raised their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Citigroup began coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.