$2.00 Billion in Sales Expected for SpartanNash Co (NASDAQ:SPTN) This Quarter
Wall Street brokerages forecast that SpartanNash Co (NASDAQ:SPTN) will post sales of $2.00 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SpartanNash’s earnings, with the highest sales estimate coming in at $2.01 billion and the lowest estimate coming in at $1.99 billion. SpartanNash posted sales of $1.90 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 19th.
According to Zacks, analysts expect that SpartanNash will report full year sales of $8.53 billion for the current year, with estimates ranging from $8.51 billion to $8.55 billion. For the next year, analysts anticipate that the company will post sales of $8.84 billion, with estimates ranging from $8.83 billion to $8.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover SpartanNash.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.09). The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. SpartanNash’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in shares of SpartanNash in the second quarter worth about $35,000. Glen Harbor Capital Management LLC grew its holdings in shares of SpartanNash by 14.3% in the second quarter. Glen Harbor Capital Management LLC now owns 8,736 shares of the company’s stock worth $102,000 after purchasing an additional 1,092 shares during the last quarter. Elkfork Partners LLC grew its holdings in shares of SpartanNash by 14.3% in the second quarter. Elkfork Partners LLC now owns 10,608 shares of the company’s stock worth $124,000 after purchasing an additional 1,326 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in SpartanNash during the 2nd quarter worth about $135,000. Finally, Alberta Investment Management Corp bought a new position in SpartanNash during the 2nd quarter worth about $155,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.
SPTN stock opened at $11.95 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.76 and a debt-to-equity ratio of 1.40. SpartanNash has a twelve month low of $8.82 and a twelve month high of $22.49. The stock has a market capitalization of $508.32 million, a price-to-earnings ratio of 6.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. The firm’s fifty day simple moving average is $12.55 and its two-hundred day simple moving average is $12.32.
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
Read More: What does relative strength index mean?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SpartanNash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpartanNash and related companies with MarketBeat.com's FREE daily email newsletter.