Performance Food Group (NYSE:PFGC) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Performance Food Group (NYSE:PFGC) announced its earnings results on Wednesday. The food distribution company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03), Briefing.com reports. The firm had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 earnings per share. Performance Food Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Performance Food Group Stock Up 2.6 %

Shares of PFGC traded up $1.77 during midday trading on Thursday, hitting $70.95. The stock had a trading volume of 515,037 shares, compared to its average volume of 974,636. The company has a 50 day simple moving average of $72.57 and a two-hundred day simple moving average of $69.25. Performance Food Group has a twelve month low of $52.92 and a twelve month high of $78.54. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.71 and a quick ratio of 0.75. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 0.95 and a beta of 1.40.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFGC shares. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Barclays cut their price objective on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday. Stephens raised their target price on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Morgan Stanley lifted their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Finally, BMO Capital Markets boosted their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.