Oppenheimer Equities Analysts Raise Earnings Estimates for Albertsons Companies, Inc. (NYSE:ACI)

Albertsons Companies, Inc. (NYSE:ACI) – Investment analysts at Oppenheimer lifted their Q4 2022 earnings estimates for shares of Albertsons Companies in a research note issued on Tuesday, January 11th. Oppenheimer analyst R. Parikh now forecasts that the company will earn $0.61 per share for the quarter, up from their previous estimate of $0.58. Oppenheimer currently has a “Market Perform” rating and a $13.90 target price on the stock. Oppenheimer also issued estimates for Albertsons Companies’ Q1 2023 earnings at $0.93 EPS, Q3 2023 earnings at $0.68 EPS, Q4 2023 earnings at $0.63 EPS, FY2023 earnings at $2.90 EPS and FY2024 earnings at $3.05 EPS.

A number of other research analysts have also recently weighed in on the stock. Barclays lifted their price objective on shares of Albertsons Companies from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday. MKM Partners boosted their price target on shares of Albertsons Companies from $31.00 to $33.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Albertsons Companies from $39.00 to $40.00 in a report on Thursday. BMO Capital Markets cut shares of Albertsons Companies from a “market perform” rating to an “underperform” rating and boosted their price target for the stock from $22.00 to $26.00 in a report on Tuesday, October 5th. Finally, Telsey Advisory Group boosted their price target on shares of Albertsons Companies from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.81.

Shares of ACI stock opened at $30.94 on Friday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.54 and a current ratio of 1.12. The stock has a market capitalization of $14.45 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 1.42 and a beta of -0.20. The company has a 50 day moving average price of $32.35 and a 200 day moving average price of $28.97. Albertsons Companies has a fifty-two week low of $15.97 and a fifty-two week high of $37.85.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, January 11th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.20. The firm had revenue of $16.73 billion during the quarter, compared to analysts’ expectations of $16.04 billion. Albertsons Companies had a net margin of 1.45% and a return on equity of 92.76%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 10th. Stockholders of record on Wednesday, January 26th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, January 25th. This represents a $0.48 annualized dividend and a dividend yield of 1.55%. Albertsons Companies’s dividend payout ratio is presently 28.74%.

Several large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its position in shares of Albertsons Companies by 2.9% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,935 shares of the company’s stock worth $353,000 after buying an additional 505 shares during the last quarter. Berman Capital Advisors LLC raised its position in Albertsons Companies by 45.5% in the 3rd quarter. Berman Capital Advisors LLC now owns 1,824 shares of the company’s stock valued at $56,000 after purchasing an additional 570 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in Albertsons Companies by 108.1% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,136 shares of the company’s stock valued at $35,000 after purchasing an additional 590 shares during the last quarter. Financial Management Professionals Inc. raised its position in Albertsons Companies by 20.6% in the 3rd quarter. Financial Management Professionals Inc. now owns 4,086 shares of the company’s stock valued at $127,000 after purchasing an additional 697 shares during the last quarter. Finally, CI Investments Inc. raised its position in Albertsons Companies by 8.1% in the 3rd quarter. CI Investments Inc. now owns 9,292 shares of the company’s stock valued at $289,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.

About Albertsons Companies

Albertsons Companies, Inc, through its subsidiaries, engages in the operation of food and drug stores in the United States. The company's 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 27, 2021, it operated 2,277 stores under various banners, including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, United Supermarkets, Market Street, Haggen, Kings Food Markets, and Balducci's Food Lovers Market; and 1,727 pharmacies, 1,313 in-store branded coffee shops, 400 adjacent fuel centers, 22 distribution centers, and 20 manufacturing facilities, as well as various digital platforms.

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Earnings History and Estimates for Albertsons Companies (NYSE:ACI)

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