YETI (NYSE:YETI) Issues FY 2024 Earnings Guidance

YETI (NYSE:YETI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.610-2.650 for the period, compared to the consensus estimate of 2.590. The company issued revenue guidance of $1.8 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. YETI also updated its FY24 guidance to $2.61-$2.65 EPS.

YETI Stock Performance

Shares of YETI traded down $2.14 during trading hours on Friday, reaching $40.98. 2,681,010 shares of the company’s stock traded hands, compared to its average volume of 1,628,928. The business’s fifty day simple moving average is $39.74 and its two-hundred day simple moving average is $39.54. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.35 and a quick ratio of 1.14. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.16 and a beta of 2.14. YETI has a twelve month low of $33.88 and a twelve month high of $54.15.

YETI (NYSE:YETI) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. YETI had a return on equity of 28.81% and a net margin of 10.32%. The firm had revenue of $341.39 million during the quarter, compared to analyst estimates of $333.79 million. Analysts predict that YETI will post 2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. William Blair restated an outperform rating on shares of YETI in a research report on Wednesday, May 1st. KeyCorp lifted their price target on YETI from $36.00 to $38.00 and gave the company an underweight rating in a report on Friday. Bank of America upgraded YETI from a neutral rating to a buy rating and raised their price objective for the stock from $46.00 to $55.00 in a research report on Thursday. Piper Sandler reiterated an overweight rating and issued a $54.00 target price on shares of YETI in a report on Tuesday, July 30th. Finally, B. Riley raised their price target on shares of YETI from $38.00 to $45.00 and gave the stock a neutral rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $47.20.

About YETI

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.