SpartanNash (NASDAQ:SPTN) Announces Earnings Results

SpartanNash (NASDAQ:SPTN) announced its earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01, Briefing.com reports. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. SpartanNash updated its FY24 guidance to $1.85-1.95 EPS and its FY 2024 guidance to 1.850-1.950 EPS.

SpartanNash Price Performance

Shares of SPTN stock traded down $0.83 on Friday, reaching $18.95. The company’s stock had a trading volume of 330,651 shares, compared to its average volume of 248,713. The company has a market capitalization of $639.47 million, a price-to-earnings ratio of 14.42 and a beta of 0.39. SpartanNash has a 1 year low of $17.74 and a 1 year high of $24.51. The stock’s fifty day simple moving average is $21.68 and its 200-day simple moving average is $20.43. The company has a current ratio of 1.62, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

SpartanNash Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 23rd were given a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Monday, September 23rd. SpartanNash’s payout ratio is 65.41%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th.

About SpartanNash

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.