Utz Brands (NYSE:UTZ) Announces Quarterly Earnings Results

Utz Brands (NYSE:UTZ – Get Free Report) announced its quarterly earnings results on Friday. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.13), Zacks reports. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The business had revenue of $369.20 million during the quarter, compared to analyst estimates of $384.60 million. During the same period last year, the company earned $0.23 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis.

Utz Brands Stock Performance

NYSE:UTZ traded down $0.03 during midday trading on Friday, reaching $14.24. The stock had a trading volume of 2,503,550 shares, compared to its average volume of 2,353,356. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.06 and a quick ratio of 0.69. The firm’s fifty day simple moving average is $14.27 and its 200-day simple moving average is $10.49. Utz Brands has a 1-year low of $6.78 and a 1-year high of $14.36. The stock has a market capitalization of $2.05 billion, a P/E ratio of -43.17 and a beta of 0.79.

Utz Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 21st were paid a dividend of $0.0630 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.8%. Utz Brands’s dividend payout ratio (DPR) is -75.76%.

Analysts Set New Price Targets

Several research firms recently issued reports on UTZ. Jefferies Financial Group lowered Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 target price on the stock. in a research note on Tuesday, July 21st. Barclays cut Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 target price for the company. in a research report on Tuesday, July 21st. Weiss Ratings raised Utz Brands from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 12th. Wall Street Zen downgraded shares of Utz Brands from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, BTIG Research cut shares of Utz Brands from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Utz Brands currently has an average rating of “Hold” and an average target price of $13.39.

View Our Latest Stock Analysis on UTZ

Utz Brands Company Profile

(Get Free Report)

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.

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Earnings History for Utz Brands (NYSE:UTZ)

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