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

Be the First to Comment Read

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

 Why is Albertsons Companies’ (ACI) stock gaining attention?
Image source: 1000 Words, Shutterstock

Highlights

  • Albertsons Companies Inc.'s Board of Directors declared a cash dividend of US$0.12 per share for Q4, FY21
  • Its net sales and other revenue rose over 8% YoY in Q3, FY21
  • It expects its adjusted net income to be between US$2.90 and US$2.95 per share for fiscal 2021

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.

Also Read: What is Alchemy Pay (ACH) crypto & why is it skyrocketing?

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.

Also Read: Top 5 US e-commerce stocks to explore in Q1 2022

Albertsons Companies (ACI) reported its third quarter fiscal 2021 earnings results

Also Read: NinjaFloki crypto rallies again, up 1,200%. What’s next for NJF token?

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.

Also Read: FGI Industries Ltd IPO: What does kitchen & bath firm’s FGI stock cost?

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.

Also Read: Five cybersecurity stocks to watch in the first quarter of 2022

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.

Disclaimer

Speak your Mind

Featured Articles