Utz Brands (NYSE:UTZ) Releases Quarterly Earnings Results

Utz Brands (NYSE:UTZ) announced its earnings results on Friday. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13), Zacks reports. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The business had revenue of $369.20 million during the quarter, compared to the consensus estimate of $384.60 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s revenue was down 2.3% compared to the same quarter last year.

Utz Brands Stock Performance

Shares of NYSE UTZ traded down $0.03 during trading on Friday, reaching $14.24. 2,503,550 shares of the company traded hands, compared to its average volume of 2,353,356. Utz Brands has a 12-month low of $6.78 and a 12-month high of $14.36. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $14.27 and its 200 day simple moving average is $10.49. The stock has a market cap of $2.05 billion, a P/E ratio of -43.17 and a beta of 0.79.

Utz Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were given a dividend of $0.0630 per share. This represents a $0.25 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, September 21st. Utz Brands’s dividend payout ratio (DPR) is currently -75.76%.

Wall Street Analysts Forecast Growth

UTZ has been the subject of several research reports. Piper Sandler downgraded Utz Brands from an “overweight” rating to a “neutral” rating and increased their target price for the company from $10.00 to $14.25 in a research report on Thursday, July 23rd. BTIG Research cut shares of Utz Brands from a “buy” rating to a “hold” rating in a report on Monday, July 27th. DA Davidson downgraded Utz Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $14.25 in a report on Wednesday, July 22nd. Wall Street Zen lowered shares of Utz Brands from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings raised Utz Brands from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, October 12th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Utz Brands currently has an average rating of “Hold” and a consensus target price of $13.39.

About Utz Brands

Utz Brands, Inc is a U.S.-based snack food company that manufactures, markets and distributes a broad portfolio of branded salty snacks. Its products include potato chips, tortilla chips, pretzels, cheese snacks, pork rinds, popcorn and other snack items sold through grocery stores, mass merchants, club stores, convenience stores and e-commerce channels.

The company’s brand portfolio includes Utz, Zapp’s, Boulder Canyon, On the Border, Golden Flake, Good Health and Hawaiian, among others.