Krispy Kreme (NASDAQ:DNUT) Updates FY 2024 Earnings Guidance

Krispy Kreme (NASDAQ:DNUT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.270-0.310 for the period, compared to the consensus EPS estimate of 0.280. The company issued revenue guidance of $1.8 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion.

Analyst Ratings Changes

Several equities analysts have commented on DNUT shares. Capital One Financial started coverage on shares of Krispy Kreme in a research report on Monday, January 22nd. They set an equal weight rating and a $16.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on Krispy Kreme from $14.00 to $13.00 and set a neutral rating for the company in a research note on Tuesday, March 19th. Bank of America lifted their target price on Krispy Kreme from $16.00 to $19.00 and gave the stock a buy rating in a research note on Monday, April 8th. Piper Sandler raised shares of Krispy Kreme from a neutral rating to an overweight rating and lifted their price objective for the stock from $14.00 to $20.00 in a research report on Friday, April 5th. Finally, Citigroup increased their target price on shares of Krispy Kreme from $14.00 to $19.00 and gave the company a neutral rating in a research report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $16.31.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $12.71 on Thursday. Krispy Kreme has a 1-year low of $11.52 and a 1-year high of $17.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26. The business has a 50 day moving average of $13.43 and a 200 day moving average of $13.51. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -57.77, a PEG ratio of 2.47 and a beta of 1.52.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $450.90 million for the quarter, compared to the consensus estimate of $438.95 million. Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. On average, sell-side analysts predict that Krispy Kreme will post 0.16 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, July 24th. Krispy Kreme’s payout ratio is -63.64%.

Insiders Place Their Bets

In other news, Director Michael J. Tattersfield sold 100,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $12.82, for a total value of $1,282,000.00. Following the completion of the transaction, the director now owns 2,936,940 shares of the company’s stock, valued at approximately $37,651,570.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.30% of the company’s stock.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.