Floor & Decor (NYSE:FND) Updates FY 2024 Earnings Guidance

Floor & Decor (NYSE:FND) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.750-2.050 for the period, compared to the consensus EPS estimate of 1.910. The company issued revenue guidance of $4.6 billion-$4.8 billion, compared to the consensus revenue estimate of $4.7 billion.

Floor & Decor Price Performance

FND stock traded up $3.93 during midday trading on Monday, reaching $116.97. 1,374,938 shares of the company’s stock traded hands, compared to its average volume of 1,400,629. The company has a 50-day simple moving average of $118.90 and a two-hundred day simple moving average of $106.41. The company has a quick ratio of 0.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. Floor & Decor has a 1-year low of $76.30 and a 1-year high of $135.67. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 56.74, a PEG ratio of 5.51 and a beta of 1.86.

Floor & Decor (NYSE:FND) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Floor & Decor had a net margin of 5.11% and a return on equity of 11.80%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue was down 2.2% on a year-over-year basis. On average, analysts anticipate that Floor & Decor will post 1.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FND shares. Bank of America upped their price objective on shares of Floor & Decor from $125.00 to $140.00 and gave the company a buy rating in a research report on Thursday, March 14th. Truist Financial lifted their price objective on Floor & Decor from $102.00 to $127.00 and gave the company a buy rating in a report on Tuesday, February 20th. Sanford C. Bernstein lowered Floor & Decor from an outperform rating to a market perform rating and boosted their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, January 16th. TD Cowen dropped their target price on shares of Floor & Decor from $125.00 to $115.00 and set a hold rating on the stock in a report on Friday. Finally, Evercore ISI reduced their price target on shares of Floor & Decor from $120.00 to $115.00 and set an in-line rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $108.76.

Insider Transactions at Floor & Decor

In other news, EVP Steven Alan Denny sold 5,152 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $123.52, for a total value of $636,375.04. Following the completion of the transaction, the executive vice president now owns 13,271 shares of the company’s stock, valued at $1,639,233.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Steven Alan Denny sold 5,152 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $123.52, for a total transaction of $636,375.04. Following the sale, the executive vice president now owns 13,271 shares in the company, valued at approximately $1,639,233.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas V. Taylor sold 20,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $123.11, for a total value of $2,462,200.00. Following the completion of the transaction, the chief executive officer now owns 174,315 shares of the company’s stock, valued at $21,459,919.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,867 shares of company stock valued at $11,016,089. Corporate insiders own 2.10% of the company’s stock.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.