YETI (NYSE:YETI) Releases FY24 Earnings Guidance

YETI (NYSE:YETI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.61-$2.65 for the period, compared to the consensus estimate of $2.58. YETI also updated its FY 2024 guidance to 2.610-2.650 EPS.

YETI Price Performance

YETI traded down $2.14 on Friday, hitting $40.98. 2,681,010 shares of the company’s stock were exchanged, compared to its average volume of 1,628,928. YETI has a fifty-two week low of $33.88 and a fifty-two week high of $54.15. The company has a current ratio of 2.35, a quick ratio of 1.14 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $39.74 and a 200-day moving average price of $39.54. The stock has a market cap 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 (NYSE:YETI) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.07. YETI had a net margin of 10.32% and a return on equity of 28.81%. The firm had revenue of $341.39 million for the quarter, compared to analysts’ expectations of $333.79 million. As a group, equities analysts anticipate that YETI will post 2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Raymond James boosted their price target on shares of YETI from $48.00 to $49.00 and gave the stock an outperform rating in a research note on Friday, May 10th. Citigroup cut their price target on shares of YETI from $49.00 to $47.00 and set a buy rating on the stock in a research note on Monday, August 5th. Roth Mkm boosted their price target on shares of YETI from $42.00 to $43.00 and gave the stock a neutral rating in a research note on Friday. Canaccord Genuity Group upped their target price on shares of YETI from $40.00 to $42.00 and gave the stock a hold rating in a research note on Friday, May 10th. Finally, B. Riley upped their target price on shares of YETI from $38.00 to $45.00 and gave the stock a neutral rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, YETI presently has a consensus rating of Hold and a consensus price target 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.