Albertsons Companies (NYSE:ACI) Issues Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Albertsons Companies (NYSE:ACI) released its quarterly earnings results on Monday. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.24, MarketWatch Earnings reports. The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.32 billion. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis.

ACI stock opened at $17.12 on Thursday. Albertsons Companies has a 52-week low of $12.91 and a 52-week high of $18.25. The company’s 50 day simple moving average is $15.98 and its 200-day simple moving average is $15.02. The company has a debt-to-equity ratio of 5.63, a quick ratio of 0.49 and a current ratio of 1.13.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 10th. Stockholders of record on Tuesday, January 26th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, January 25th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.34%.

ACI has been the subject of several research analyst reports. Northcoast Research initiated coverage on shares of Albertsons Companies in a research report on Tuesday, October 6th. They issued a “buy” rating and a $18.00 target price for the company. Barclays downgraded shares of Albertsons Companies from an “equal weight” rating to an “underweight” rating and set a $17.00 target price for the company. in a research report on Thursday, January 7th. Zacks Investment Research downgraded shares of Albertsons Companies from a “buy” rating to a “hold” rating in a research report on Friday, January 8th. Tigress Financial assumed coverage on shares of Albertsons Companies in a research report on Friday, September 25th. They set a “buy” rating for the company. Finally, BMO Capital Markets lowered shares of Albertsons Companies from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Albertsons Companies has a consensus rating of “Buy” and a consensus target price of $19.59.

About Albertsons Companies

Albertsons Companies, Inc, through its subsidiaries, operates as a food and drug retailer in the United States. Its food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. As of February 29, 2020, the company operated 2,252 stores under various banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Market Street, Pavilions, Star Market, Carrs, and Haggen; and 1,726 pharmacies, 1,290 in-store branded coffee shops, and 402 adjacent fuel centers.

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