Why is Albertsons Companies’ (ACI) stock gaining attention?

The stocks of Albertsons Companies Inc. (NYSE: ACI) were trending on Wall Street Tuesday, after the company reported its third-quarter fiscal 2021 earnings results, while increasing its outlook for the full fiscal year, before the opening bell. In addition, the firm also announced a common stock dividend on Tuesday.

Albertsons Companies is a grocery store operator that provides a range of items like healthcare and beauty products, pharmacy, and other related products and services to consumers. The firm is based in Boise, Idaho.

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Stock performance of Albertsons Companies, Inc. (ACI)

The ACI stocks were priced at US$30.85 at 7:53 am ET on January 11, down by 3.29% from its previous close when it closed at US$31.90. It has a market cap of US$14.90 billion, with a P/E ratio of 28.23, and a forward one-year P/E ratio of 12.36. Its EPS is US$1.13.

The ACI stock saw the highest price of US$37.85 and the lowest price of US$15.97 in the last 52 weeks. Its trading volume was 4,571,857 on January 10.

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Q3, FY21 earnings highlights:

Its net sales and other revenue were US$16.7 billion in Q3, FY21, up over 8% from US$15.4 billion in the same quarter of the previous year.

It reported a net income of US$424.5 million, or US$0.74 per diluted share, against an income of US$123.7 million, or US$0.20 per diluted share in the comparable quarter of the previous year.

On an adjusted basis, its net income came in at US$457 million. Its adjusted EBITDA was US$1.05 billion in Q3, FY21.

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For the nine months ended December 4, 2021, the company's revenue was US$54.50 billion, as compared to US$53.91 billion in the same period of the previous year. For the period, its net income came in at US$1.16 billion, against an income of US$994.4 million for the nine months ended on December 5, 2020.

The company expects its adjusted EBITDA to be between US$4.25 billion and US$4.30 billion in fiscal 2021, up from its previous forecast of US$3.95 billion to US$4.05 billion.

It also projected its adjusted net income per Class A common share to be between US$2.90 and US$2.95 per share, up from its previous projection of US$2.50 and US$2.60 per share.

The Board of Directors of the company announced a cash dividend of US$0.12 per share of common stock for Q4, FY21.

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Bottom line:

The company has witnessed a significant gain in the recent quarters, evident by the surge in its stock prices. The ACI stock grew 90.45% over the past 12 months.