Spartan Stores Inc. (SPTN) Issues FY14 Earnings Guidance
Spartan Stores Inc. (NASDAQ:SPTN) issued an update on its FY14 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.65-1.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.70, Stock Ratings Network reports. The company issued revenue guidance of $7.9-8.04 billion, compared to the consensus revenue estimate of $7.81 billion.
On a related note, analysts at Zacks upgraded shares of Spartan Stores from a neutral rating to an outperform rating in a research note on Tuesday, March 11th. They now have a $25.70 price target on the stock.
Shares of Spartan Stores Inc. (NASDAQ:SPTN) traded up 0.74% during mid-day trading on Wednesday, hitting $21.69. 155,203 shares of the company’s stock traded hands. Spartan Stores Inc. has a 52 week low of $16.71 and a 52 week high of $25.74. The stock’s 50-day moving average is $22. and its 200-day moving average is $22.79. The company has a market cap of $810.6 million and a price-to-earnings ratio of 552.05.
Spartan Stores (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 198.9% on a year-over-year basis. Analysts expect that Spartan Stores Inc. will post $1.74 EPS for the current fiscal year.
In other Spartan Stores news, VP Alex Deyonker sold 6,960 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $21.58, for a total value of $150,196.80. Following the sale, the vice president now directly owns 63,203 shares of the company’s stock, valued at approximately $1,363,921. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Spartan Stores, Inc is a regional grocery distributor and grocery retailer, operating principally in Michigan and Indiana.
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