Utz Brands (UTZ) Set to Announce Quarterly Earnings on Thursday

Utz Brands (NYSE:UTZ) will post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect Utz Brands to post earnings of $0.13 per share for the quarter. Utz Brands has set its FY 2024 guidance at 0.660-0.690 EPS and its FY24 guidance at $0.66-$0.69 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $352.10 million during the quarter, compared to the consensus estimate of $354.63 million. Utz Brands had a negative net margin of 1.73% and a positive return on equity of 6.08%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. On average, analysts expect Utz Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Utz Brands Stock Performance

Shares of NYSE UTZ opened at $18.15 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.42. The company has a market cap of $2.55 billion, a P/E ratio of -58.53, a P/E/G ratio of 1.67 and a beta of 0.97. The firm’s fifty day moving average is $18.03 and its two-hundred day moving average is $16.03. Utz Brands has a 52-week low of $11.17 and a 52-week high of $19.21.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 2nd. Shareholders of record on Monday, April 15th will be issued a $0.059 dividend. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Friday, April 12th. Utz Brands’s payout ratio is currently -77.42%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. DA Davidson started coverage on shares of Utz Brands in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. Piper Sandler boosted their target price on shares of Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Truist Financial boosted their target price on shares of Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Needham & Company LLC boosted their target price on shares of Utz Brands from $20.00 to $20.50 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Bank of America upgraded shares of Utz Brands from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $22.00 in a report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.63.

Insider Buying and Selling

In related news, major shareholder Chinh Chu sold 92,226 shares of Utz Brands stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $17.80, for a total transaction of $1,641,622.80. Following the completion of the transaction, the insider now directly owns 3,556,154 shares of the company’s stock, valued at approximately $63,299,541.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $17.40, for a total value of $7,764,750.00. Following the completion of the sale, the insider now directly owns 397,885 shares of the company’s stock, valued at approximately $6,923,199. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Chinh Chu sold 92,226 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $17.80, for a total transaction of $1,641,622.80. Following the completion of the sale, the insider now directly owns 3,556,154 shares of the company’s stock, valued at $63,299,541.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 609,181 shares of company stock valued at $10,754,925. Company insiders own 17.00% of the company’s stock.

Utz Brands Company Profile

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.