Flowers Foods Reaches New 52-Week Low Following Weak Earnings (FLO)
Flowers Foods (NYSE:FLO)’s share price hit a new 52-week low during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings, AnalystRatingsNetwork reports. The company traded as low as $18.50 and last traded at $19.16, with a volume of 2,741,665 shares. The stock had previously closed at $20.01.
The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.03. The company had revenue of $877.40 million for the quarter, compared to the consensus estimate of $940.83 million.
A number of analysts have recently weighed in on FLO shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Flowers Foods in a research note on Tuesday, August 5th. They now have a $24.00 price target on the stock, down previously from $26.00. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.40.
The stock has a 50-day moving average of $20.27 and a 200-day moving average of $20.52. The company has a market cap of $4.009 billion and a price-to-earnings ratio of 23.49.
Flowers Foods, Inc (NYSE:FLO) is a producer and marketer of bakery products in the United States.
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