Zacks: Brokerages Expect Utz Brands, Inc. (NYSE:UTZ) Will Announce Quarterly Sales of $275.11 Million


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Wall Street analysts expect Utz Brands, Inc. (NYSE:UTZ) to announce sales of $275.11 million for the current quarter, Zacks reports. Three analysts have provided estimates for Utz Brands’ earnings. The highest sales estimate is $275.90 million and the lowest is $273.80 million. The firm is expected to report its next earnings report on Friday, May 14th.

On average, analysts expect that Utz Brands will report full-year sales of $1.16 billion for the current fiscal year, with estimates ranging from $1.16 billion to $1.17 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.22 billion, with estimates ranging from $1.21 billion to $1.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Utz Brands.

Utz Brands (NYSE:UTZ) last announced its earnings results on Wednesday, March 17th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. The business had revenue of $246.28 million during the quarter, compared to analyst estimates of $242.20 million.

A number of equities research analysts have recently weighed in on UTZ shares. DA Davidson boosted their price target on Utz Brands from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, March 22nd. Truist began coverage on Utz Brands in a report on Tuesday, March 23rd. They issued a “hold” rating and a $25.00 price target for the company. Citigroup upped their price objective on Utz Brands from $26.00 to $30.00 in a research note on Thursday, March 25th. Truist Securities began coverage on Utz Brands in a research note on Monday, March 29th. They set a “hold” rating and a $25.00 price objective for the company. Finally, Credit Suisse Group upped their price objective on Utz Brands from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 20th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $26.14.

Shares of NYSE UTZ traded up $0.01 during trading on Tuesday, reaching $24.63. The stock had a trading volume of 356,954 shares, compared to its average volume of 585,111. Utz Brands has a one year low of $10.21 and a one year high of $26.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.79 and a quick ratio of 1.34. The firm’s 50 day moving average price is $25.25 and its two-hundred day moving average price is $22.00.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Stockholders of record on Monday, April 19th will be paid a $0.05 dividend. The ex-dividend date is Friday, April 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.81%.

Several large investors have recently added to or reduced their stakes in UTZ. BlackRock Inc. grew its stake in shares of Utz Brands by 17,120.0% in the fourth quarter. BlackRock Inc. now owns 812,612 shares of the company’s stock worth $17,927,000 after purchasing an additional 807,893 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Utz Brands by 53.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,664,140 shares of the company’s stock worth $36,711,000 after purchasing an additional 579,581 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Utz Brands in the third quarter worth $6,304,000. Jennison Associates LLC lifted its holdings in shares of Utz Brands by 34.4% in the fourth quarter. Jennison Associates LLC now owns 797,975 shares of the company’s stock valued at $17,603,000 after buying an additional 204,072 shares during the period. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Utz Brands in the fourth quarter valued at $3,915,000. 34.61% of the stock is owned by institutional investors.

Utz Brands Company Profile

Utz Brands, Inc manufacturers, markets, and distributes snacking products in the United States. It offers a range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, and TORTIYAHS brands.

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Earnings History and Estimates for Utz Brands (NYSE:UTZ)

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