United Natural Foods Expected To Deliver Record-Setting Quarter
United Natural Foods, Inc. (NASDAQ: UNFI) is scheduled to announce third quarter financial results after the market closes. The stock has fallen about 20 percent over the past three months.
Despite the decline in the stock price, United Natural Foods is expected to deliver a record-setting quarter. The Street is modeling consensus earnings of $0.86 per share on revenue of $2.136 billion, while the crowd is projecting earnings of $0.85 per share on revenue of $2.129 billion, according to Estimize.
This implies an increase of at least 16 percent from the earnings of $0.73 per share reported in the same quarter last year, when revenue came in at $1.782 billion.
The estimates also suggest revenue will grow year-over-year, by about 20 percent, to an all-time high.
A couple of months ago, analysts at Oppenheimer met with United Natural Foods’ CFO Mark Shamber in Canada, and reiterated an Outperform rating on the stock.
"Based on our recent investor conversations, the slowdown in the conventional channel and out of stocks have remained at the top of investor concerns,” the experts commented. “Overall, the tone of management remained positive toward the company's competitive position, industry demand dynamics, the Tony's acquisition, and M&A opportunities.”
"We are optimistic that stronger conventional trends and improving out of stocks could fuel healthier comp trends in coming quarters,” they added, concluding that the company's shares offer “attractive upside potential for investors with a multi-quarter time horizon.”
Latest Ratings for UNFI
|Sep 2016||Barclays||Initiates Coverage on||Underweight|
|Sep 2016||Deutsche Bank||Maintains||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.