Flowers Foods (FLO) Updates FY19 Earnings Guidance

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Flowers Foods (NYSE:FLO) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.94-$1.02 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.97. The company issued revenue guidance of $4.03-$4.109 billion, compared to the consensus revenue estimate of $4.06 billion.Flowers Foods also updated its FY 2019 guidance to $0.94-1.02 EPS.

Shares of FLO opened at $22.66 on Friday. Flowers Foods has a 52 week low of $17.78 and a 52 week high of $22.74. The firm has a market capitalization of $4.49 billion, a PE ratio of 22.11 and a beta of 0.49. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.36 and a quick ratio of 1.05.

Flowers Foods (NYSE:FLO) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. Flowers Foods had a return on equity of 15.81% and a net margin of 4.28%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company earned $0.30 EPS. Flowers Foods’s revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Flowers Foods will post 0.99 EPS for the current year.

FLO has been the subject of a number of research reports. Pivotal Research reiterated a sell rating and issued a $16.00 price target on shares of Flowers Foods in a research note on Thursday, February 7th. ValuEngine cut Flowers Foods from a buy rating to a hold rating in a research note on Friday, February 8th. Finally, Zacks Investment Research raised Flowers Foods from a hold rating to a buy rating and set a $24.00 target price for the company in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Flowers Foods has a consensus rating of Hold and a consensus price target of $19.20.

In related news, insider Debo Mukherjee bought 1,550 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $20.20 per share, with a total value of $31,310.00. Following the transaction, the insider now directly owns 1,550 shares in the company, valued at $31,310. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.17% of the stock is owned by company insiders.

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Flowers Foods Company Profile

Flowers Foods, Inc produces and markets bakery products in the United States. The company operates through two segments, Direct-Store-Delivery and Warehouse Delivery. The Direct-Store-Delivery segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Dave's Killer Bread, Tastykake, Wonder, and Cobblestone Bread Company brand names.

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

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