Utz Brands (NYSE:UTZ) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Utz Brands (NYSE:UTZ) released its earnings results on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01, Briefing.com reports. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $363.98 million. During the same period last year, the company earned $0.17 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis.

Utz Brands Trading Up 0.8 %

UTZ opened at $17.35 on Friday. The firm’s 50 day moving average is $17.31 and its 200-day moving average is $17.24. Utz Brands has a 52-week low of $11.67 and a 52-week high of $20.04. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.44 billion, a P/E ratio of 578.33, a P/E/G ratio of 1.11 and a beta of 1.01.

Utz Brands Announces Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is 800.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on UTZ shares. Barclays dropped their price objective on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Utz Brands in a research note on Friday, August 2nd. Finally, Piper Sandler lifted their price objective on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.10.

Insider Activity

In other news, Director Bruce John Lindeman purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $16.11 per share, with a total value of $64,440.00. Following the purchase, the director now directly owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 17.00% of the company’s stock.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp’s, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.