SpartanNash (NASDAQ:SPTN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

SpartanNash (NASDAQ:SPTN) issued its earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01, Briefing.com reports. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. SpartanNash’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 NASDAQ SPTN opened at $18.94 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.62 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $639.13 million, a PE ratio of 14.24 and a beta of 0.39. The stock’s 50 day moving average price is $21.62 and its 200-day moving average price is $20.42. SpartanNash has a twelve month low of $17.74 and a twelve month high of $24.51.

SpartanNash Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 23rd were paid a $0.218 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.87 annualized dividend and a yield of 4.60%. SpartanNash’s dividend payout ratio (DPR) is 65.41%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Friday.

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.