Albertsons Companies (NYSE:ACI) Releases Earnings Results, Beats Expectations By $0.03 EPS

Albertsons Companies (NYSE:ACI) issued its quarterly earnings results on Tuesday. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03, FiscalAI reports. The business had revenue of $18.89 billion for the quarter, compared to analysts’ expectations of $18.87 billion. Albertsons Companies had a net margin of 0.08% and a return on equity of 45.59%. During the same quarter last year, the company posted $0.30 earnings per share.

Albertsons Companies Stock Performance

Shares of ACI stock opened at $12.51 on Tuesday. The company has a quick ratio of 0.21, a current ratio of 0.84 and a debt-to-equity ratio of 5.22. The business has a 50 day moving average of $12.16 and a two-hundred day moving average of $14.25. Albertsons Companies has a 52 week low of $10.86 and a 52 week high of $20.00. The company has a market cap of $6.07 billion, a P/E ratio of 156.38, a PEG ratio of 2.08 and a beta of 0.40.

Insider Activity

In related news, EVP Thomas M. Moriarty purchased 170,500 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were acquired at an average price of $11.51 per share, with a total value of $1,962,455.00. Following the acquisition, the executive vice president owned 308,946 shares in the company, valued at approximately $3,555,968.46. This trade represents a 123.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sharon Mccollam acquired 9,000 shares of Albertsons Companies stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average price of $11.48 per share, with a total value of $103,320.00. Following the transaction, the chief financial officer directly owned 567,051 shares in the company, valued at approximately $6,509,745.48. This trade represents a 1.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 218,909 shares of company stock valued at $2,515,826. 1.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACI. The Goldman Sachs Group lowered their price objective on Albertsons Companies from $24.00 to $16.00 and set a “buy” rating for the company in a report on Friday, July 24th. Zacks Research raised Albertsons Companies from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. BMO Capital Markets lowered Albertsons Companies from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $23.00 to $12.00 in a research report on Friday, July 24th. Wells Fargo & Company lowered Albertsons Companies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $18.00 to $11.00 in a research report on Thursday, July 23rd. Finally, Citigroup reissued a “neutral” rating and set a $11.00 price target (down from $17.00) on shares of Albertsons Companies in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.31.

About Albertsons Companies

Albertsons Companies, Inc is a U.S. food and drug retailer headquartered in Boise, Idaho. The company operates supermarkets, pharmacies and related retail businesses under banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, ACME, Tom Thumb, Randalls, United Supermarkets, Pavilions, Carrs and Haggen.

Its stores offer groceries, fresh produce, meat and seafood, bakery and deli items, household products, health and beauty products, and pharmacy services. Albertsons also provides private-label products, fuel at select locations, grocery delivery and pickup, digital shopping tools, and customer loyalty programs.

The company’s history traces to 1939, when Joe Albertson opened the first Albertsons store in Boise.