Utz Brands (NYSE:UTZ) Issues Quarterly Earnings Results

Utz Brands (NYSE:UTZ) announced its earnings results on Friday. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13), Zacks reports. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The business had revenue of $369.20 million for the quarter, compared to analysts’ expectations of $384.60 million. During the same quarter last year, the business earned $0.23 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis.

Utz Brands Stock Down 0.2%

UTZ stock opened at $14.24 on Friday. The business’s 50 day simple moving average is $14.27 and its 200 day simple moving average is $10.51. Utz Brands has a 1-year low of $6.78 and a 1-year high of $14.36. The firm has a market capitalization of $2.05 billion, a PE ratio of -43.17 and a beta of 0.79. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62.

Utz Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 21st were issued a $0.0630 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.8%. Utz Brands’s dividend payout ratio (DPR) is currently -75.76%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. DA Davidson cut Utz Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $14.25 in a research report on Wednesday, July 22nd. UBS Group restated a “neutral” rating and issued a $14.25 price target on shares of Utz Brands in a research report on Wednesday, July 22nd. Piper Sandler lowered shares of Utz Brands from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $10.00 to $14.25 in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of Utz Brands from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Jefferies Financial Group cut Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 price target on the stock. in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.39.

About Utz Brands

Utz Brands, Inc is a U.S.-based snack food company that manufactures, markets and distributes a broad portfolio of branded salty snacks. Its products include potato chips, tortilla chips, pretzels, cheese snacks, pork rinds, popcorn and other snack items sold through grocery stores, mass merchants, club stores, convenience stores and e-commerce channels.

The company’s brand portfolio includes Utz, Zapp’s, Boulder Canyon, On the Border, Golden Flake, Good Health and Hawaiian, among others.