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

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

Analysts Set New Price Targets

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

Krispy Kreme Stock Down 0.9 %

Shares of NASDAQ DNUT opened at $12.71 on Thursday. The stock has a fifty day moving average price of $13.43 and a 200 day moving average price of $13.51. The company has a market cap of $2.14 billion, a P/E ratio of -57.77, a P/E/G ratio of 2.47 and a beta of 1.52. Krispy Kreme has a 12-month low of $11.52 and a 12-month high of $17.84. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 0.66.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results 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). Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The company had revenue of $450.90 million during the quarter, compared to analyst estimates of $438.95 million. During the same quarter last year, the business posted $0.11 EPS. Krispy Kreme’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts anticipate that Krispy Kreme will post 0.16 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

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

Insider Buying and Selling at Krispy Kreme

In other Krispy Kreme news, Director Michael J. Tattersfield sold 100,000 shares of the company’s 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 transaction, the director now directly 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 SEC, which is accessible through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Krispy Kreme Company Profile

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.