Sprouts Farmers Market, Inc. (NASDAQ:SFM) Updates FY17 Earnings Guidance
Sprouts Farmers Market, Inc. (NASDAQ:SFM) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $0.88-0.92 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.91. The company issued revenue guidance of +13-14% to ~$4.571-4.612 billion, compared to the consensus revenue estimate of $4.60 billion.
Several research firms have issued reports on SFM. BMO Capital Markets set a $24.00 price target on shares of Sprouts Farmers Market and gave the stock a hold rating in a research note on Saturday, June 10th. Jefferies Group LLC set a $26.00 price target on shares of Sprouts Farmers Market and gave the stock a buy rating in a research note on Wednesday, June 14th. Morgan Stanley cut shares of Sprouts Farmers Market from an overweight rating to an equal rating and raised their price target for the stock from $21.00 to $23.00 in a research note on Thursday, June 15th. TheStreet raised shares of Sprouts Farmers Market from a c+ rating to a b- rating in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG reaffirmed a hold rating on shares of Sprouts Farmers Market in a research note on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $24.95.
Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) opened at 23.81 on Friday. The firm has a 50-day moving average of $23.22 and a 200 day moving average of $21.88. Sprouts Farmers Market, Inc. has a 12 month low of $17.38 and a 12 month high of $25.98. The firm has a market cap of $3.27 billion, a P/E ratio of 27.98 and a beta of 0.52.
Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Sprouts Farmers Market had a return on equity of 18.79% and a net margin of 2.96%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts anticipate that Sprouts Farmers Market, Inc. will post $0.91 EPS for the current fiscal year.
In other news, CEO Amin N. Maredia sold 13,448 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $22.71, for a total transaction of $305,404.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Leroy Nielsen sold 55,322 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $23.74, for a total value of $1,313,344.28. Following the transaction, the chief operating officer now owns 152,430 shares of the company’s stock, valued at $3,618,688.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,246 shares of company stock valued at $2,840,927. Corporate insiders own 2.60% of the company’s stock.
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About Sprouts Farmers Market
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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