Albertsons Companies (NYSE:ACI) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Albertsons Companies (NYSE:ACI) released its quarterly earnings results on Tuesday. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03, FiscalAI reports. The business had revenue of $18.89 billion during the quarter, compared to analysts’ expectations of $18.87 billion. Albertsons Companies had a return on equity of 45.59% and a net margin of 0.08%. During the same period last year, the firm posted $0.30 EPS.

Albertsons Companies Trading Up 2.6%

Shares of ACI stock opened at $12.51 on Tuesday. The stock has a market cap of $6.07 billion, a P/E ratio of 156.38, a price-to-earnings-growth ratio of 2.08 and a beta of 0.40. Albertsons Companies has a 1 year low of $10.86 and a 1 year high of $20.00. The company has a current ratio of 0.84, a quick ratio of 0.21 and a debt-to-equity ratio of 5.22. The stock has a 50 day simple moving average of $12.16 and a 200 day simple moving average of $14.25.

Insiders Place Their Bets

In related news, CFO Sharon Mccollam acquired 9,000 shares of the stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $11.48 per share, for a total transaction of $103,320.00. Following the purchase, the chief financial officer directly owned 567,051 shares in the company, valued at approximately $6,509,745.48. The trade was a 1.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas Moriarty acquired 170,500 shares of the company’s stock in a transaction on Monday, July 27th. The stock was bought at an average cost of $11.51 per share, with a total value of $1,962,455.00. Following the completion of the acquisition, the executive vice president directly owned 308,946 shares in the company, valued at approximately $3,555,968.46. This represents a 123.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 218,909 shares of company stock worth $2,515,826 in the last 90 days. Company insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

ACI has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Albertsons Companies in a report on Wednesday, August 26th. Barclays dropped their target price on Albertsons Companies from $17.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, July 24th. Zacks Research raised shares of Albertsons Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. JPMorgan Chase & Co. reduced their target price on shares of Albertsons Companies from $20.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. Finally, UBS Group reaffirmed a “neutral” rating and set a $12.00 price target (down from $20.00) on shares of Albertsons Companies in a research report on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Albertsons Companies currently has an average rating of “Hold” and an average target price of $15.31.

Albertsons Companies Company Profile

Albertsons Companies, Inc is a U.S. food and drug retailer headquartered in Boise, Idaho. The company operates supermarkets, pharmacies and related retail businesses under banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, ACME, Tom Thumb, Randalls, United Supermarkets, Pavilions, Carrs and Haggen.

Its stores offer groceries, fresh produce, meat and seafood, bakery and deli items, household products, health and beauty products, and pharmacy services. Albertsons also provides private-label products, fuel at select locations, grocery delivery and pickup, digital shopping tools, and customer loyalty programs.

The company’s history traces to 1939, when Joe Albertson opened the first Albertsons store in Boise.