Flowers Foods, Inc. (NYSE:FLO) released its quarterly earnings results on Wednesday. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01, RTT News reports. Flowers Foods had a net margin of 4.22% and a return on equity of 15.39%. The business had revenue of $926.64 million for the quarter, compared to analysts’ expectations of $931.26 million. During the same period in the previous year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Flowers Foods updated its FY17 guidance to $0.85-0.90 EPS.
Flowers Foods (NYSE:FLO) traded up 0.75% during mid-day trading on Wednesday, hitting $17.53. 2,341,798 shares of the stock traded hands. Flowers Foods has a 1-year low of $14.35 and a 1-year high of $21.00. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 22.22 and a beta of 0.97. The company’s 50 day moving average price is $17.52 and its 200-day moving average price is $18.89.
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FLO has been the topic of several research reports. Zacks Investment Research lowered shares of Flowers Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Flowers Foods in a research report on Friday, May 26th. TheStreet raised shares of Flowers Foods from a “c+” rating to a “b-” rating in a research report on Thursday, May 18th. BidaskClub raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a research report on Thursday, July 20th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.57.
Flowers Foods Company Profile
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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