Floor & Decor (NYSE:FND) Updates FY24 Earnings Guidance

Floor & Decor (NYSE:FND) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.75-$2.05 for the period, compared to the consensus estimate of $1.90. The company issued revenue guidance of $4.60-$4.77 billion, compared to the consensus revenue estimate of $4.67 billion.

Floor & Decor Trading Up 3.2 %

Shares of NYSE:FND traded up $3.47 during midday trading on Thursday, hitting $112.76. 2,174,852 shares of the stock were exchanged, compared to its average volume of 1,389,026. The business’s 50-day moving average price is $119.00 and its 200 day moving average price is $105.88. Floor & Decor has a 12 month low of $76.30 and a 12 month high of $135.67. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.18 and a current ratio of 1.14. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of 48.14, a P/E/G ratio of 5.31 and a beta of 1.86.

Floor & Decor (NYSE:FND) last posted its earnings results on Thursday, February 22nd. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Floor & Decor had a net margin of 5.57% and a return on equity of 13.38%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. Analysts predict that Floor & Decor will post 1.92 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wedbush upped their price target on Floor & Decor from $115.00 to $125.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Barclays boosted their price target on shares of Floor & Decor from $66.00 to $75.00 and gave the stock an underweight rating in a research report on Thursday, January 4th. Guggenheim increased their price objective on shares of Floor & Decor from $115.00 to $130.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. UBS Group lowered shares of Floor & Decor from a buy rating to a neutral rating and set a $135.00 target price on the stock. in a report on Tuesday, March 5th. Finally, Wells Fargo & Company lowered Floor & Decor from an overweight rating to an equal weight rating and lifted their price objective for the stock from $85.00 to $105.00 in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Floor & Decor presently has an average rating of Hold and a consensus price target of $110.19.

Insider Activity at Floor & Decor

In other news, CFO Bryan Langley sold 5,865 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $119.86, for a total value of $702,978.90. Following the completion of the sale, the chief financial officer now directly owns 17,422 shares of the company’s stock, valued at $2,088,200.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO David Victor Christopherson sold 6,850 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $118.70, for a total value of $813,095.00. Following the transaction, the chief accounting officer now owns 25,271 shares in the company, valued at approximately $2,999,667.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bryan Langley sold 5,865 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $119.86, for a total value of $702,978.90. Following the sale, the chief financial officer now directly owns 17,422 shares of the company’s stock, valued at $2,088,200.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,867 shares of company stock valued at $11,016,089. 2.10% of the stock is owned by corporate insiders.

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.