Floor & Decor (NYSE:FND) Releases Earnings Results, Beats Estimates By $0.06 EPS

Floor & Decor (NYSE:FND) posted its earnings results on Wednesday. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06, Briefing.com reports. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.14 billion. Floor & Decor had a return on equity of 9.84% and a net margin of 4.45%. Floor & Decor’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. Floor & Decor updated its FY24 guidance to ~$1.65-1.75 EPS and its FY 2024 guidance to 1.650-1.750 EPS.

Floor & Decor Price Performance

NYSE FND traded up $1.66 during trading on Friday, hitting $104.71. 368,498 shares of the stock traded hands, compared to its average volume of 1,425,133. The company has a quick ratio of 0.27, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. Floor & Decor has a 12-month low of $76.30 and a 12-month high of $135.67. The firm has a 50-day simple moving average of $111.85 and a 200-day simple moving average of $108.87. The company has a market capitalization of $11.22 billion, a P/E ratio of 57.20, a price-to-earnings-growth ratio of 13.59 and a beta of 1.80.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FND shares. Piper Sandler dropped their price objective on shares of Floor & Decor from $119.00 to $118.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company boosted their price objective on shares of Floor & Decor from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Floor & Decor in a report on Friday, October 25th. TD Cowen cut their price target on Floor & Decor from $115.00 to $100.00 and set a “hold” rating for the company in a report on Friday, July 12th. Finally, Guggenheim cut their price objective on Floor & Decor from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.24.

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.