Albertsons Companies (NYSE:ACI) Releases Earnings Results, Beats Expectations By $0.24 EPS


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Albertsons Companies (NYSE:ACI) announced its earnings results on Tuesday. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.24, MarketWatch Earnings reports. The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.32 billion. The firm’s revenue was up 9.3% compared to the same quarter last year. Albertsons Companies updated its FY 2020
Pre-Market guidance to 3.05-3.15 EPS and its FY21 guidance to $3.05-3.15 EPS.

Shares of ACI traded up $0.24 during mid-day trading on Tuesday, hitting $16.99. 218,845 shares of the company traded hands, compared to its average volume of 2,091,708. The company has a quick ratio of 0.49, a current ratio of 1.13 and a debt-to-equity ratio of 5.63. The business has a 50-day moving average price of $15.92. Albertsons Companies has a 1 year low of $12.91 and a 1 year high of $17.82.

The business also recently disclosed a dividend, which was paid on Wednesday, December 23rd. Stockholders of record on Friday, January 1st were issued a dividend of $48.00 per share. The ex-dividend date was Thursday, December 3rd. This represents a dividend yield of 5.47%.

ACI has been the subject of several recent analyst reports. Zacks Investment Research downgraded Albertsons Companies from a “buy” rating to a “hold” rating in a research note on Friday. Northcoast Research started coverage on Albertsons Companies in a research report on Tuesday, October 6th. They issued a “buy” rating and a $18.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Albertsons Companies from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, January 6th. Morgan Stanley raised their price target on Albertsons Companies from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 21st. Finally, Barclays lowered Albertsons Companies from an “equal weight” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research report on Thursday, January 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. Albertsons Companies presently has a consensus rating of “Buy” and a consensus target price of $19.59.

About Albertsons Companies

Albertsons Companies, Inc, through its subsidiaries, operates as a food and drug retailer in the United States. Its food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. As of February 29, 2020, the company operated 2,252 stores under various banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Market Street, Pavilions, Star Market, Carrs, and Haggen; and 1,726 pharmacies, 1,290 in-store branded coffee shops, and 402 adjacent fuel centers.

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