Zacks: Analysts Expect Flowers Foods, Inc. (FLO) Will Announce Quarterly Sales of $931.15 Million

Equities analysts expect Flowers Foods, Inc. (NYSE:FLO) to announce sales of $931.15 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Flowers Foods’ earnings, with estimates ranging from $926.30 million to $936.00 million. Flowers Foods posted sales of $935.03 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.4%. The business is expected to announce its next earnings results after the market closes on Wednesday, August 9th.

According to Zacks, analysts expect that Flowers Foods will report full year sales of $931.15 million for the current fiscal year, with estimates ranging from $3.89 billion to $3.93 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.96 billion per share, with estimates ranging from $3.90 billion to $4.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Flowers Foods.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, May 17th. The company reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Flowers Foods had a net margin of 4.22% and a return on equity of 15.39%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year.

Several analysts have weighed in on FLO shares. Zacks Investment Research cut shares of Flowers Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Flowers Foods in a research note on Friday, May 26th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a research note on Thursday, July 20th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Flowers Foods has an average rating of “Hold” and a consensus price target of $19.57.

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Flowers Foods (NYSE FLO) traded up 1.09% on Friday, reaching $17.59. 1,129,308 shares of the company traded hands. The stock has a 50-day moving average price of $17.60 and a 200-day moving average price of $18.93. Flowers Foods has a 52-week low of $14.35 and a 52-week high of $21.00. The firm has a market cap of $3.68 billion, a P/E ratio of 22.29 and a beta of 0.97.

A number of institutional investors have recently added to or reduced their stakes in FLO. Dimensional Fund Advisors LP boosted its position in Flowers Foods by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,132 shares of the company’s stock worth $28,001,000 after buying an additional 17,055 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Flowers Foods by 85.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,131 shares of the company’s stock worth $202,000 after buying an additional 4,654 shares in the last quarter. Norges Bank bought a new position in Flowers Foods during the fourth quarter worth about $25,343,000. Quadrature Capital Ltd bought a new position in Flowers Foods during the fourth quarter worth about $5,268,000. Finally, Teachers Advisors LLC boosted its position in Flowers Foods by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 166,593 shares of the company’s stock worth $3,327,000 after buying an additional 5,286 shares in the last quarter. Institutional investors and hedge funds own 66.66% of the company’s stock.

About Flowers Foods

Flowers Foods, Inc is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment produces fresh breads, buns, rolls, tortillas and snack cakes sold primarily by a network of independent distributors to retail and foodservice customers in the areas of the United States: East, South, Southwest, California, and select markets in the Midwest, Pacific Northwest, Nevada, and Colorado.

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Earnings History and Estimates for Flowers Foods (NYSE:FLO)

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