Floor & Decor (NYSE:FND) Releases FY 2024 Earnings Guidance

Floor & Decor (NYSE:FND) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.750-2.050 for the period, compared to the consensus estimate of 1.910. The company issued revenue guidance of $4.6 billion-$4.8 billion, compared to the consensus revenue estimate of $4.7 billion.

Floor & Decor Price Performance

Shares of NYSE FND traded up $3.93 during mid-day trading on Monday, reaching $116.97. The company’s stock had a trading volume of 1,374,938 shares, compared to its average volume of 1,400,629. The stock has a 50-day moving average of $118.92 and a two-hundred day moving average of $106.64. The stock has a market capitalization of $12.49 billion, a P/E ratio of 56.51, a P/E/G ratio of 5.51 and a beta of 1.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.21 and a current ratio of 1.17. Floor & Decor has a 1-year low of $76.30 and a 1-year high of $135.67.

Floor & Decor (NYSE:FND) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Floor & Decor had a net margin of 5.11% and a return on equity of 11.80%. Floor & Decor’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, equities research analysts anticipate that Floor & Decor will post 1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. TD Cowen cut their target price on shares of Floor & Decor from $125.00 to $115.00 and set a hold rating on the stock in a report on Friday. Telsey Advisory Group reiterated a market perform rating and issued a $110.00 price objective on shares of Floor & Decor in a research report on Monday, April 29th. 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 report on Thursday, March 14th. Guggenheim lifted their price objective on shares of Floor & Decor from $115.00 to $130.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus lowered their price objective on shares of Floor & Decor from $115.00 to $110.00 and set a hold rating on the stock in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $108.76.

Insider Activity at Floor & Decor

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

About Floor & Decor

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.