Americold Realty Trust (NYSE:COLD) Releases Quarterly Earnings Results, Misses Expectations By $0.54 EPS

Americold Realty Trust (NYSE:COLD) posted its quarterly earnings results on Thursday. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.54), Zacks reports. Americold Realty Trust had a negative return on equity of 8.55% and a negative net margin of 12.17%. The business had revenue of $660.96 million for the quarter, compared to the consensus estimate of $653.74 million. During the same period last year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Americold Realty Trust updated its FY24 guidance to $1.44-1.50 EPS and its FY 2024 guidance to 1.440-1.500 EPS.

Americold Realty Trust Stock Performance

COLD stock traded down $0.27 during trading hours on Friday, reaching $29.06. The stock had a trading volume of 1,751,235 shares, compared to its average volume of 2,407,844. The stock has a 50-day simple moving average of $27.31 and a 200 day simple moving average of $25.97. Americold Realty Trust has a fifty-two week low of $21.87 and a fifty-two week high of $33.90. The stock has a market capitalization of $8.25 billion, a PE ratio of -24.84, a price-to-earnings-growth ratio of 2.14 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.16 and a quick ratio of 0.16.

Americold Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, June 28th. This represents a $0.88 dividend on an annualized basis and a yield of 3.03%. Americold Realty Trust’s payout ratio is -75.21%.

Analyst Ratings Changes

A number of equities analysts have issued reports on COLD shares. Wells Fargo & Company initiated coverage on Americold Realty Trust in a report on Thursday, April 25th. They set an “equal weight” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Americold Realty Trust from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Wednesday, June 26th. Wolfe Research upgraded shares of Americold Realty Trust from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a report on Monday, July 1st. Robert W. Baird upped their target price on shares of Americold Realty Trust from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Barclays boosted their target price on Americold Realty Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Americold Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

About Americold Realty Trust

Americold is a global leader in temperature-controlled logistics real estate and value added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 245 temperature-controlled warehouses, with approximately 1.5 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America.