Krispy Kreme (NASDAQ:DNUT) Updates FY 2024 Earnings Guidance

Krispy Kreme (NASDAQ:DNUT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.180-0.220 for the period, compared to the consensus earnings per share estimate of 0.250. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion.

Krispy Kreme Stock Performance

Shares of DNUT opened at $12.42 on Thursday. Krispy Kreme has a 12-month low of $9.18 and a 12-month high of $17.84. The stock has a market cap of $2.11 billion, a P/E ratio of -41.40, a PEG ratio of 2.91 and a beta of 1.39. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average of $11.40 and a two-hundred day moving average of $11.26.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $438.80 million during the quarter, compared to the consensus estimate of $435.43 million. Krispy Kreme had a negative net margin of 2.98% and a positive return on equity of 1.12%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. As a group, research analysts predict that Krispy Kreme will post 0.13 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio (DPR) is -46.67%.

Wall Street Analysts Forecast Growth

DNUT has been the subject of a number of recent analyst reports. Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. Bank of America upped their price objective on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, July 23rd. Morgan Stanley began coverage on Krispy Kreme in a research note on Tuesday. They set an “equal weight” rating and a $14.00 price target for the company. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $13.00 price objective on shares of Krispy Kreme in a research note on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.