United Natural Foods (UNFI) Issues Quarterly Earnings Results, Misses Expectations By $0.14 EPS
United Natural Foods (NASDAQ:UNFI) posted its earnings results on Thursday. The company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.14), RTT News reports. United Natural Foods had a net margin of 1.62% and a return on equity of 8.93%. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. United Natural Foods updated its FY 2019 guidance to $1.69-1.89 EPS and its FY19 guidance to $1.69-$1.89 EPS.
United Natural Foods stock opened at $19.73 on Friday. The firm has a market cap of $1.04 billion, a PE ratio of 6.34, a PEG ratio of 0.82 and a beta of 1.62. United Natural Foods has a 12-month low of $19.41 and a 12-month high of $52.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.56 and a quick ratio of 0.93.
UNFI has been the subject of several research reports. Loop Capital set a $55.00 target price on shares of United Natural Foods and gave the company a “buy” rating in a report on Wednesday, September 12th. Zacks Investment Research downgraded shares of United Natural Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Buckingham Research set a $41.00 price target on shares of United Natural Foods and gave the stock a “buy” rating in a research note on Thursday, September 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price target (down previously from $36.00) on shares of United Natural Foods in a research note on Friday, September 21st. They noted that the move was a valuation call. Finally, Pivotal Research restated a “sell” rating and issued a $21.00 price target on shares of United Natural Foods in a research note on Friday, September 21st. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $32.98.
About United Natural Foods
United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The Wholesale division offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products.
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