Performance Food Group (NYSE:PFGC) Announces Earnings Results, Misses Estimates By $0.03 EPS

Performance Food Group (NYSE:PFGC) released its earnings results on Wednesday. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03), Briefing.com reports. The company had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. Performance Food Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Performance Food Group Stock Performance

NYSE PFGC traded up $0.13 on Friday, hitting $71.12. 304,723 shares of the company’s stock were exchanged, compared to its average volume of 978,294. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.71 and a quick ratio of 0.75. The firm’s 50-day moving average price is $72.46 and its two-hundred day moving average price is $69.26. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 0.95 and a beta of 1.40.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PFGC shares. Barclays decreased their target price on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley lifted their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Stephens lifted their price target on Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. BMO Capital Markets lifted their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.00.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.