Floor & Decor (NYSE:FND) Releases FY24 Earnings Guidance

Floor & Decor (NYSE:FND) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.75-$2.05 for the period, compared to the consensus earnings per share estimate of $1.90. The company issued revenue guidance of $4.60-$4.77 billion, compared to the consensus revenue estimate of $4.67 billion.

Floor & Decor Stock Performance

Shares of Floor & Decor stock traded up $0.28 during trading hours on Friday, hitting $113.04. 2,307,069 shares of the company were exchanged, compared to its average volume of 1,240,906. The business has a 50-day moving average of $118.90 and a 200-day moving average of $106.27. Floor & Decor has a 1 year low of $76.30 and a 1 year high of $135.67. The company has a current ratio of 1.14, a quick ratio of 0.18 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 54.61, a P/E/G ratio of 5.48 and a beta of 1.86.

Floor & Decor (NYSE:FND) last issued its earnings results on Thursday, May 2nd. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Floor & Decor had a net margin of 5.11% and a return on equity of 11.97%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, analysts expect that Floor & Decor will post 1.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Sanford C. Bernstein lowered shares of Floor & Decor from an outperform rating to a market perform rating and boosted their price objective for the stock from $100.00 to $115.00 in a research report on Tuesday, January 16th. Bank of America lifted their price objective on shares of Floor & Decor from $125.00 to $140.00 and gave the company a buy rating in a research note on Thursday, March 14th. Wedbush reiterated an outperform rating and issued a $125.00 target price on shares of Floor & Decor in a research note on Friday. Stifel Nicolaus decreased their target price on shares of Floor & Decor from $115.00 to $110.00 and set a hold rating for the company in a research report on Monday, February 26th. Finally, Telsey Advisory Group restated a market perform rating and set a $110.00 price target on shares of Floor & Decor in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $108.76.

Insider Activity at Floor & Decor

In other Floor & Decor news, EVP Steven Alan Denny sold 5,152 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $123.52, for a total value of $636,375.04. Following the completion of the transaction, the executive vice president now directly owns 13,271 shares in the company, valued at $1,639,233.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Norman Axelrod sold 40,000 shares of Floor & Decor stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $119.97, for a total transaction of $4,798,800.00. Following the transaction, the director now owns 226,080 shares in the company, valued at $27,122,817.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven Alan Denny sold 5,152 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $123.52, for a total value of $636,375.04. Following the completion of the sale, the executive vice president now directly owns 13,271 shares of the company’s stock, valued at $1,639,233.92. The disclosure for this sale can be found here. Insiders sold 90,867 shares of company stock worth $11,016,089 in the last quarter. 2.10% of the stock is owned by company insiders.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.