Utz Brands (NYSE:UTZ) Posts Earnings Results, Misses Expectations By $0.13 EPS

Utz Brands (NYSE:UTZ) released its quarterly earnings results on Friday. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13), Zacks reports. The business had revenue of $369.20 million during the quarter, compared to analyst estimates of $384.60 million. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share.

Utz Brands Price Performance

Utz Brands stock traded down $0.03 during midday trading on Friday, reaching $14.24. The company’s stock had a trading volume of 2,503,550 shares, compared to its average volume of 2,353,356. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.05 billion, a PE ratio of -43.17 and a beta of 0.79. Utz Brands has a 52 week low of $6.78 and a 52 week high of $14.36. The business has a 50-day moving average price of $14.27 and a 200-day moving average price of $10.49.

Utz Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were given a $0.0630 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, September 21st. Utz Brands’s payout ratio is currently -75.76%.

Wall Street Analyst Weigh In

A number of research firms have commented on UTZ. Jefferies Financial Group lowered Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 price objective on the stock. in a research note on Tuesday, July 21st. Weiss Ratings upgraded Utz Brands from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, October 12th. UBS Group reissued a “neutral” rating and set a $14.25 target price on shares of Utz Brands in a report on Wednesday, July 22nd. Wall Street Zen cut Utz Brands from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Stephens set a $14.25 price target on Utz Brands in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.39.

Utz Brands Company Profile

Utz Brands, Inc is a U.S.-based snack food company that manufactures, markets and distributes a broad portfolio of branded salty snacks. Its products include potato chips, tortilla chips, pretzels, cheese snacks, pork rinds, popcorn and other snack items sold through grocery stores, mass merchants, club stores, convenience stores and e-commerce channels.

The company’s brand portfolio includes Utz, Zapp’s, Boulder Canyon, On the Border, Golden Flake, Good Health and Hawaiian, among others.