Brokers Offer Predictions for YETI Holdings, Inc.’s Q1 2024 Earnings (NYSE:YETI)
YETI Holdings, Inc. (NYSE:YETI – Free Report) – Stock analysts at William Blair cut their Q1 2024 earnings estimates for YETI in a research note issued to investors on Wednesday, February 28th. William Blair analyst S. Zackfia now forecasts that the company will post earnings of $0.11 per share for the quarter, down from their prior forecast of $0.12. The consensus estimate for YETI’s current full-year earnings is $2.28 per share. William Blair also issued estimates for YETI’s Q3 2024 earnings at $0.64 EPS.
YETI (NYSE:YETI – Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.06). The business had revenue of $519.79 million for the quarter, compared to analyst estimates of $535.99 million. YETI had a return on equity of 27.99% and a net margin of 10.24%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share.
Several other research analysts have also weighed in on the stock. Canaccord Genuity Group restated a “hold” rating and set a $50.00 price objective (up from $49.00) on shares of YETI in a research note on Thursday, January 4th. Canaccord Genuity Group lowered shares of YETI from a “buy” rating to a “hold” rating and upped their price target for the company from $49.00 to $50.00 in a research note on Thursday, January 4th. B. Riley reissued a “neutral” rating and issued a $42.00 target price on shares of YETI in a research report on Friday, February 16th. Raymond James dropped their price objective on shares of YETI from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Finally, Stifel Nicolaus lowered their target price on shares of YETI from $43.00 to $41.00 and set a “hold” rating on the stock in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.53.
Get Our Latest Stock Report on YETI
YETI Stock Up 3.7 %
YETI stock opened at $41.52 on Thursday. YETI has a twelve month low of $34.70 and a twelve month high of $54.15. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 1.56 and a beta of 2.40. The company has a quick ratio of 1.45, a current ratio of 2.30 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $45.58 and a two-hundred day moving average price of $45.17.
Institutional Investors Weigh In On YETI
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aigen Investment Management LP purchased a new position in YETI in the third quarter valued at about $1,286,000. D.A. Davidson & CO. bought a new position in shares of YETI in the third quarter valued at approximately $2,901,000. Schwartz Investment Counsel Inc. increased its holdings in shares of YETI by 39.6% in the third quarter. Schwartz Investment Counsel Inc. now owns 234,250 shares of the company’s stock worth $11,296,000 after purchasing an additional 66,500 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of YETI in the 3rd quarter valued at about $829,000. Finally, Lisanti Capital Growth LLC bought a new stake in shares of YETI during the 3rd quarter valued at about $8,686,000.
About YETI
YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories. The company also provides drinkware products, such as colsters, lowballs, wine tumblers, stackable pints, mugs, tumblers, straw mugs and cups, bottles, jugs, and water bottles, as well as accessories comprising bottle straw and chug caps, lids, straw lids, color packs, tumbler handles, and jug mounts under the Rambler brand.
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