Albertsons Companies (NYSE:ACI) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Albertsons Companies (NYSE:ACI) posted its earnings results on Monday. The company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.24, MarketWatch Earnings reports. The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.32 billion. Albertsons Companies’s revenue for the quarter was up 9.3% compared to the same quarter last year.

Albertsons Companies stock traded down $0.03 during midday trading on Wednesday, hitting $17.07. The company’s stock had a trading volume of 80,339 shares, compared to its average volume of 3,421,689. The company has a current ratio of 1.13, a quick ratio of 0.49 and a debt-to-equity ratio of 5.63. The business’s 50-day simple moving average is $15.96. Albertsons Companies has a 12 month low of $12.91 and a 12 month high of $18.25.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 10th. Shareholders of record on Tuesday, January 26th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, January 25th.

A number of equities research analysts recently commented on ACI shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Albertsons Companies from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, January 6th. ValuEngine cut shares of Albertsons Companies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 1st. Zacks Investment Research cut shares of Albertsons Companies from a “buy” rating to a “hold” rating in a research report on Friday, January 8th. Northcoast Research started coverage on shares of Albertsons Companies in a research note on Tuesday, October 6th. They set a “buy” rating and a $18.00 price target on the stock. Finally, BMO Capital Markets lowered shares of Albertsons Companies from an “outperform” rating to a “market perform” rating and set a $18.00 price target on the stock. in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.59.

About Albertsons Companies

Albertsons Companies, Inc, through its subsidiaries, operates as a food and drug retailer in the United States. Its food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. As of February 29, 2020, the company operated 2,252 stores under various banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Market Street, Pavilions, Star Market, Carrs, and Haggen; and 1,726 pharmacies, 1,290 in-store branded coffee shops, and 402 adjacent fuel centers.

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