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

Floor & Decor (NYSE:FND) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.550-1.750 for the period, compared to the consensus estimate of 1.790. The company issued revenue guidance of $4.4 billion-$4.5 billion, compared to the consensus revenue estimate of $4.6 billion. Floor & Decor also updated its FY24 guidance to $1.55-$1.75 EPS.

Floor & Decor Price Performance

NYSE:FND traded up $3.75 during trading hours on Friday, reaching $97.89. 4,632,778 shares of the company’s stock were exchanged, compared to its average volume of 2,302,808. The company has a market capitalization of $10.48 billion, a P/E ratio of 47.29, a price-to-earnings-growth ratio of 10.13 and a beta of 1.74. Floor & Decor has a 12 month low of $76.30 and a 12 month high of $135.67. The business’s 50-day simple moving average is $104.49 and its two-hundred day simple moving average is $111.61. The company has a quick ratio of 0.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.10.

Floor & Decor (NYSE:FND) last issued its earnings results on Thursday, August 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Floor & Decor had a return on equity of 10.85% and a net margin of 4.78%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.66 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts expect that Floor & Decor will post 1.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FND shares. Telsey Advisory Group cut their price target on shares of Floor & Decor from $100.00 to $95.00 and set a market perform rating on the stock in a report on Friday. UBS Group reduced their price objective on Floor & Decor from $135.00 to $125.00 and set a neutral rating for the company in a research note on Friday, May 3rd. Guggenheim decreased their price objective on Floor & Decor from $130.00 to $115.00 and set a buy rating for the company in a research report on Friday. Truist Financial dropped their target price on Floor & Decor from $130.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Finally, Evercore ISI cut their target price on shares of Floor & Decor from $120.00 to $100.00 and set an in-line rating for the company in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $103.32.

Insider Buying and Selling at Floor & Decor

In related news, Director Peter Starrett sold 1,569 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $122.61, for a total transaction of $192,375.09. Following the transaction, the director now directly owns 118,620 shares in the company, valued at $14,543,998.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Peter Starrett sold 1,569 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $122.61, for a total value of $192,375.09. Following the completion of the transaction, the director now owns 118,620 shares of the company’s stock, valued at $14,543,998.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven Alan Denny sold 1,010 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $123.11, for a total value of $124,341.10. Following the completion of the sale, the executive vice president now owns 12,911 shares in the company, valued at $1,589,473.21. The disclosure for this sale can be found here. Insiders sold a total of 41,778 shares of company stock valued at $5,182,791 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Floor & Decor Company Profile

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.