Albertsons Companies Stock (NYSE:ACI), Trade Ideas

Albertsons Companies

Albertsons is the second largest supermarket operator in the United States with over 2,200 stores across a variety of banners. About 80% of the firm's sales stem from non-perishable and fresh food, of which 25% comes from its portfolio of private brands. The company also operates fuel centers and pharmacies at about 20% and 75% of its store locations, respectively. Albertsons went public in 2020 following years of ownership under private equity firm Cerberus Capital Management, which still owns about one-quarter of outstanding shares.

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Explore Albertsons Companies&#39; fourth-quarter FY23 performance, marked by a 0.4% year-on-year sales uptick to $18.34 billion. Despite missing analyst estimates, the company saw a 1.0% rise in identical sales, alongside a notable 24% surge in digital sales.

What&#39;s Going On With Albertsons Stock Post Q4 Results &amp; Updated Divestiture Plan?

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Wall Street appears to be shrugging off rate worries as major stock index futures were moderately higher in early pre-market trading on Monday in the hopes of getting some respite from Big Tech earnings. 

US Stocks Set To Open Fresh Week Higher On Big Tech Earnings Hopes: Analyst Warns Any Letdown Could Push Market &#39;Deeper Into Oversold Territory&#39;

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Telsey Advisory Group analyst Joe Feldman maintains Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) with a Market Perform and maintains $27.25 price target.

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Telsey Advisory Group Maintains Market Perform on Albertsons Companies, Maintains $27.25 Price Target

RBC Capital analyst Steven Shemesh maintains Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) with a Outperform and lowers the price target from $23 to $22.

RBC Capital Maintains Outperform on Albertsons Companies, Lowers Price Target to $22

U.S. stocks traded higher midway through trading, with the Dow Jones gaining around 100 points on Monday.
The Dow traded up 0.24% to 38,078.26 while the NASDAQ rose 0.25% to 15,320.07. The S&amp;P 500 also rose, gaining, 0.29% to 4,981.79.
Check This Out: <a href="https://www.benzinga.com/news/24/04/38355455/alphabet-to-rally-around-14-here-are-10-top-analyst-forecasts-for-monday">Alphabet To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Monday</a>
Leading and Lagging Sectors
<ul>
<li>Industrials shares climbed by 0.6% on Monday.</li>
<li>In trading on Monday, communication services shares fell by 0.4%.</li>
</ul>
Top Headline Albertsons Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) reported upbeat earnings for its fourth quarter.
The company posted fourth-quarter FY23 sales growth of 0.4% year-on-year to $18.34 billion, missing the analyst consensus estimate of $18.47 billion. Adjusted EPS of 54 cents beat the analyst consensus estimate of 52 cents.
Albertsons and Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) have amended their definitive agreement with C&amp;S Wholesale Grocers, LLC (C&amp;S) for the sale of assets regarding the merger announced on October 14, 2022..
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Moolec Science SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLEC#NASDAQ">MLEC</a>) shares shot up 76% to $2.4297 after the company announced that it received USDA approval for plant-grown animal proteins.</li>
<li>Shares of NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) got a boost, surging 92% to $1.42 after the company signed a non-binding term sheet for a potential reverse merger with European Wellness Investment Holdings.</li>
<li>Matterport, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTTR#NASDAQ">MTTR</a>) shares were also up, gaining 174% to $4.7601 after the company announced a deal to be acquired by online real estate marketplace provider CoStar Group.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Vaxxinity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VAXX#NASDAQ">VAXX</a>) shares dropped 47% to $0.2501 after the company announced its intention to voluntarily delist and deregister its Class A common stock.</li>
<li>Shares of Hepion Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEPA#NASDAQ">HEPA</a>) were down 37% to $1.3197 after the company announced that it began wind-down activities in its Phase 2b &#8220;ASCEND-NASH Trial.</li>
<li>Warrantee Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRNT#NASDAQ">WRNT</a>) was down, falling 29% to $0.2999 after the company announced a receipt of a Nasdaq delisting determination and a plan to appeal.</li>
</ul>
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Commodities In commodity news, oil traded down 0.1% to $83.02 while gold traded down 2.7% at $2,349.50.
Silver traded down 4.6% to $27.52 on Monday, while copper fell 0.1% to $4.4910.
Euro zone&lt;
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.63%, London's FTSE 100 rose 1.68% while Spain's IBEX 35 Index climbed 1.34% The German DAX gained 0.74% French CAC 40 rose 0.27% while Italy's FTSE MIB Index fell 0.73%.
Eurozone's government deficit to GDP ratio fell to 3.6% in 2023 compared to a revised 3.7% in the prior year.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 gaining 1%, Hong Kong's Hang Seng Index gaining 1.77%, China's Shanghai Composite falling 0.67% and India's S&amp;P BSE Sensex gaining 0.77%.
The People&#8217;s Bank of China maintained its key lending rates at the April fixing.
Economics
The Chicago Fed National Activity Index increased to +0.15 in March versus a revised reading of +0.09 in the previous month, topping market estimates of +0.09.
Now Read This: <a href="https://www.benzinga.com/news/24/04/38355474/progressive-q2-holdings-and-2-other-stocks-insiders-are-selling">Progressive, Q2 Holdings And 2 Other Stocks Insiders Are Sellin</a>g

Albertsons Companies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) reported fourth-quarter FY23 sales growth of 0.4% year-on-year to $18.34 billion,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38355387/albertsons-companies-inc-reports-fourth-quarter-and-full-year-results" rel="noreferrer noopener">&nbsp;missing the analyst consensus estimate of $18.47 billion</a>.
The increase was driven by a 1.0% increase in identical sales, partially offset by lower fuel sales and wholesale revenue. Digital sales increased 24%.
Gross margin rate expanded 20 basis points to 28%. The operating margin was 2.3%, and operating income for the quarter slid 1.7% to $426.2 million.
The company held $188.7 million in cash and equivalents as of February 24, 2024. Operating cash flow for fiscal 2023 totaled $2.66 billion.
Adjusted EBITDA of $915.8 million decreased 12.8% Y/Y. Adjusted EPS of $0.54&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the analyst consensus estimate of $0.52.</a>
&#8220;At the same time, we expect to face ongoing headwinds posed by investments in associate wages and benefits, cycling significant prior year food inflation, lower government assistance for our customers, declining COVID-related income, and the increasing mix of our pharmacy and digital businesses, which carry lower margins. We expect these headwinds to be much stronger in the first half of fiscal 2024,&#8221; said CEO Vivek Sankaran.
Albertsons and&nbsp;Kroger Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) have amended their definitive agreement with&nbsp;C&amp;S Wholesale Grocers, LLC&nbsp;(C&amp;S) for the sale of assets&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38355427/kroger-albertsons-companies-and-c-s-wholesale-grocers-llc-announce-an-updated-and-expanded-divesti" rel="noreferrer noopener">regarding the merger announced on October 14, 2022</a>.
The amended divestiture plan adds stores, facilities and banner names to enhance competition in overlap geographies. The updated package increases the total store count by 166 to include 579 stores that will be sold to, and continue operating as they do today by the new owner, C&amp;S.
This follows concerns raised by federal and state antitrust regulators regarding the original agreement.
The companies expect the amended package to bolster their position in regulatory challenges to the proposed merger,&nbsp;<a target="_blank" href="https://www.benzinga.com//node/37929582" rel="noreferrer noopener">including pending court proceedings.</a>
Price Action: ACI shares are trading higher by 0.17% at $20.39 at last check Monday.

What's Going On With Albertsons Stock Post Q4 Results & Updated Divestiture Plan?

<h3>Companies Reporting Before The Bell</h3>
&bull; MainStreet Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSB#NASDAQ">MNSB</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $17.10 million.
&bull; Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) is likely to report quarterly loss at $0.09 per share on revenue of $-570 thousand.
&bull; Zions Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) is projected to report quarterly earnings at $0.98 per share on revenue of $743.48 million.
&bull; Verizon Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) is likely to report quarterly earnings at $1.12 per share on revenue of $33.24 billion.
&bull; HBT Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBT#NASDAQ">HBT</a>) is projected to report quarterly earnings at $0.55 per share on revenue of $56.63 million.
&bull; AZZ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) is projected to report quarterly earnings at $0.70 per share on revenue of $351.67 million.
&bull; Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) is estimated to report quarterly earnings at $0.80 per share on revenue of $5.70 billion.
&bull; Sify Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIFY#NASDAQ">SIFY</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $149.30 million.
&bull; Washington Trust Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WASH#NASDAQ">WASH</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $31.50 million.
&bull; Bank of Hawaii (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOH#NYSE">BOH</a>) is estimated to report quarterly earnings at $0.87 per share on revenue of $160.21 million.
&bull; Kaspi.kz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSPI#NASDAQ">KSPI</a>) is estimated to report earnings for its first quarter.
&bull; Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) is expected to report quarterly earnings at $0.52 per share on revenue of $18.47 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Globe Life (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) is expected to report quarterly earnings at $2.79 per share on revenue of $1.42 billion.
&bull; NBT Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBTB#NASDAQ">NBTB</a>) is likely to report quarterly earnings at $0.68 per share on revenue of $135.32 million.
&bull; Simpson Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSD#NYSE">SSD</a>) is expected to report quarterly earnings at $1.92 per share on revenue of $549.85 million.
&bull; Crane (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>) is projected to report quarterly earnings at $1.12 per share on revenue of $546.38 million.
&bull; Hexcel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $473.78 million.
&bull; RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) is expected to report quarterly earnings at $1.60 per share on revenue of $367.78 million.
&bull; Alexandria Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) is likely to report quarterly earnings at $2.32 per share on revenue of $772.57 million.
&bull; Ameriprise Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>) is expected to report quarterly earnings at $8.20 per share on revenue of $4.12 billion.
&bull; Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) is projected to report quarterly earnings at $0.22 per share on revenue of $5.35 billion.
&bull; SAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) is expected to report quarterly earnings at $1.11 per share on revenue of $8.56 billion.
&bull; AGNC Investment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>) is expected to report quarterly earnings at $0.57 per share on revenue of $473.78 million.
&bull; Servisfirst Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>) is expected to report quarterly earnings at $0.88 per share on revenue of $109.10 million.
&bull; HealthStream (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSTM#NASDAQ">HSTM</a>) is likely to report quarterly earnings at $0.11 per share on revenue of $72.02 million.
&bull; Lufax Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LU#NYSE">LU</a>) is estimated to report quarterly earnings at $0.12 per share on revenue of $1.02 billion.
&bull; Equity Lifestyle Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELS#NYSE">ELS</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $387.14 million.
&bull; SmartFinancial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMBK#NYSE">SMBK</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $39.14 million.
&bull; Trustco Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRST#NASDAQ">TRST</a>) is expected to report quarterly earnings at $0.60 per share on revenue of $43.13 million.
&bull; Independent Bank Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBTX#NASDAQ">IBTX</a>) is expected to report quarterly earnings at $0.59 per share on revenue of $121.39 million.
&bull; Medpace Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) is likely to report quarterly earnings at $2.46 per share on revenue of $512.58 million.
&bull; Cathay General (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATY#NASDAQ">CATY</a>) is likely to report quarterly earnings at $0.98 per share on revenue of $187.46 million.
&bull; Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) is likely to report quarterly earnings at $1.13 per share on revenue of $1.00 billion.
&bull; Brown &amp; Brown (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>) is estimated to report quarterly earnings at $1.06 per share on revenue of $1.22 billion.
&bull; Pinnacle Finl Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>) is likely to report quarterly earnings at $1.56 per share on revenue of $423.19 million.
&bull; Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>) is expected to report quarterly earnings at $0.55 per share on revenue of $427.01 million.
&bull; SPDR ICE Preferred Securities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSK#NYSE">PSK</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $129.00 million.
&bull; Enterprise Finl Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EFSC#NASDAQ">EFSC</a>) is expected to report quarterly earnings at $1.11 per share on revenue of $157.33 million.
&bull; RBB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBB#NASDAQ">RBB</a>) is likely to report quarterly earnings at $0.34 per share on revenue of $27.65 million.
&bull; Calix (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) is likely to report quarterly earnings at $0.20 per share on revenue of $228.14 million.
&bull; First Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBA#NASDAQ">FRBA</a>) is estimated to report quarterly earnings at $0.42 per share on revenue of $31.41 million.
&bull; Packaging Corp of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) is likely to report quarterly earnings at $1.62 per share on revenue of $1.90 billion.
&bull; Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) is likely to report quarterly earnings at $3.85 per share on revenue of $8.51 billion.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 22, 2024

Kroger And Albertsons Amend Agreement With C&S Wholesale Grocers For The Sale Of Assets In Connection With Proposed Merger; Amended Divestiture Plan Adds Stores, Facilities And Banner Names

Albertsons Reports  Q4 Identical Sales Increase Of 1%

Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) reported quarterly adjusted earnings of $0.54 per share which beat the analyst consensus estimate of $0.52 by 3.85 percent. This is a 31.65 percent decrease over earnings of $0.79 per share from the same period last year. The company reported quarterly sales of $18.34 billion which missed the analyst consensus estimate of $18.47 billion by 0.71 percent. This is a 0.41 percent increase over sales of $18.27 billion the same period last year.

Earnings Beats

Earnings Misses

Albertsons Companies Q4 Adj $0.54 Beats $0.52 Estimate, Sales $18.34B Miss $18.47B Estimate

Wall Street appears to be shrugging off rate worries as major stock index futures were moderately higher in early pre-market trading on Monday in the hopes of getting some respite from Big Tech earnings.&nbsp;
<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38346847/nvidia-in-correction-territory-did-ai-led-tech-stock-bubble-just-burst-this-data-po" rel="noreferrer noopener">Oversold conditions</a>&nbsp;could be attracting bargain hunters who anticipate continued upside surprises from the &#8220;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38351989/microsoft-analyst-says-q3-print-from-favorite-ai-superstar-may-boost-bullish-outloo" rel="noreferrer noopener">Magnificent Seven</a>&#8221; tech companies reporting earnings this week.
These reports feature some of the biggest names in technology:&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) kicks off the mega-cap earning this week on Tuesday followed by&nbsp;Meta Platforms, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) on Wednesday,&nbsp;Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and&nbsp;Alphabet, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (GOOG) on Thursday.
Global markets also reflect this earnings optimism. Asian markets, excluding China, closed significantly higher, and European stocks opened on a firmer note.
 Futures Performance On Monday ( as of 6:20 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.76%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.59%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.48%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Monday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.60% to $498.15,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.77% to $417.84, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Past Week&#8217;s Trading:
Rate worries that sent bond yields spiking higher in the wake of some strong economic data, geopolitical tensions, and mixed earnings weighed down on sentiment in the week ended April 19. Techs led the pullback, with traders opting to dump shares of AI stalwart Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). The stock is technically in correction territory &#8211; a pullback of over 20% from recent highs.
The Nasdaq Composite and the S&amp;P 500 Index ended lower for a sixth straight session, with the former pulling back toward its lowest closing level since late January. This marked the longest losing streak for both indices since October 2022.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (Week Ended April 19) (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-5.52%</td>
<td>15,282.01</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-3.05%</td>
<td>4,967.23</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.01%</td>
<td>37,986.40</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.77%</td>
<td>1,947.66</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Even as the market trades at oversold levels, it may have to contend with a couple of key catalysts, namely tech earnings reports and key inflation data, this week, said LPL Financial Chief Global Strategist Quincy Krosby. 
 &#8220;As events in the Middle East appear to have subsided, at the margin at least, traders and investors will be able to focus on the path of inflation with the PCE (Personal Consumption Expenditures Price Index), especially with more Fed speakers acknowledging that the pace of disinflation has stalled,&#8221; he said.
He also noted that weaker-than-expected guidance from ASML, TSMC and Netflix have triggered worries whether these are part of a broader slowdown in demand.
&#8220;As the S&amp;P 500 valuation remains over 20 times forward earnings, investors are expecting not just strong results but strong guidance, and any disappointment from the mega-tech names reporting could push this week's oversold market deeper into oversold territory,&#8221; he added.
Upcoming Economic Data:
The personal income and spending report for March will likely be the key economic data the market is likely to focus on, in the unfolding week. The report, due Friday, would reveal whether the Fed&#8217;s favorite inflation gauge &#8211; the personal consumption expenditure index, is showing signs of resuming the downtrend.
The other key readings scheduled for the week include the advance first-quarter GDP report, S&amp;P Global&#8217;s flash manufacturing and services sectors&#8217; purchasing managers indices for April, durable goods orders report for April, and a couple of housing market readings.
On Monday, at 8:30 a.m. EDT, the Chicago Fed is due to release its national activity index for March.
The Treasury is set to auction three- and six-month notes at 11:30 a.m. EDT.
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers</a>
Stocks In Focus: 
<ul>
<li>Tesla fell about 2.47% to $143.42 <a href="https://www.benzinga.com/premarket">in premarket trading </a>following the electric-vehicle price cuts the company announced across geographies last weekend. Chinese EV startup Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), which announced matching price cuts, slumped over 7%.</li>
<li>Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and Zions Bancorporation, National Association (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) are among the noteworthy names <a href="https://www.benzinga.com/calendars/earnings">reporting their quarterly results ahead of the market open.</a></li>
<li>Those reporting after the close include Ameriprise Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) and Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures fell modestly on Monday after the recovery seen in the previous two sessions, and gold futures were down sharply under the $2,400 level.
The 10-year note yield edged up to the 4.66% mark
 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.61% and approached the $66K psychological barrier, after <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38345043/bitcoin-shrugs-off-fourth-halving-miner-rewards-halved-price-holds-strong">the halving event </a>that occurred late Friday.
Asian stocks rallied across the board following last week&#8217;s slump, although the Chinese market bucked the uptrend. The decline came amid the People&#8217;s Bank of China&#8217;s decision to leave benchmark interest rates unchanged.
European markets advanced in early trading.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38349204/can-magnificent-7-help-script-market-turnaround-earnings-pick-up-pace-with-microsof">Can Magnificent 7 Help Script Market Turnaround? Earnings Pick Up Pace With Microsoft, Meta, Alphabet And Tesla Expected This Week</a>

US Stocks Set To Open Fresh Week Higher On Big Tech Earnings Hopes: Analyst Warns Any Letdown Could Push Market 'Deeper Into Oversold Territory'

The CNN Money Fear and Greed index showed a further decline in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Friday.
U.S. stocks closed mixed on Friday, with the S&amp;P 500 falling for a sixth straight session. The index fell over 3% last week to record its worst weekly performance since March 2023. However, the Dow Jones index edged higher by 0.01% for the week.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="427" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/20101853/image-130-1024x427.png" alt="" class="wp-image-301012" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/20101853/image-130-1024x427.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/20101853/image-130-300x125.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/20101853/image-130-768x321.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/20101853/image-130-1536x641.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/20101853/image-130.png 1893w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
On the economic data front, the total number of active U.S. oil rigs climbed by 5 to 511 rigs this week, Baker Hughes Inc. reported.
Shares of Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) fell over 9% during Friday&#8217;s session following first-quarter results. Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares jumped more than 13% to $12.35 following reports suggesting Sony is in talks with Apollo to join a bid for the company.
Most sectors on the S&amp;P 500 closed on a positive note, with financial, utilities, and energy stocks recording the biggest gains on Friday. However, information technology and communication services stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 211 points to 37,986.40 on Friday. The S&amp;P 500 fell 0.88% at 4,967.23, while the Nasdaq Composite dipped 2.05% at 15,282.01 during Friday's session.
Investors are awaiting earnings results from Zions Bancorporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), and Albertsons Companies, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) today.
At a current reading of 31.2, the index remained in the &#8220;Fear&#8221; zone on Friday, versus a prior reading of 33
What Is The CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.

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Investor Sentiment Edges Lower, S&P 500 Falls For Sixth Straight Day

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) to report quarterly earnings at 52 cents per share on revenue of $18.47 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Albertsons shares rose 0.5% to $20.45 in after-hours trading.
Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) disclosed a $150 million share repurchase program. Smartsheet shares fell 1.7% to close at $36.80 on Friday.
Analysts are expecting Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) to post quarterly earnings at $3.65 per share on revenue of $8.26 billion. The company will release earnings after the markets close. Nucor shares fell 0.01% to $191.34 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
BCB Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCBP#NASDAQ">BCBP</a>) reported downbeat earnings for its first quarter. The company posted quarterly GAAP earnings of 32 cents per share, missing market expectations of 34 cents per share, according to data from Benzinga Pro. BCB Bancorp shares fell 0.2% to $9.95 in the after-hours trading session.
Analysts expect Zions Bancorporation, National Association (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) to post quarterly earnings at 98 cents per share on revenue of $743.48 million before the opening bell. Zions Bancorporation shares fell 0.6% to $39.70 in after-hours trading.
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Albertsons Companies, Nucor And 3 Stocks To Watch Heading Into Monday

As the <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">market runs into rough weather,</a> the importance of the upcoming week&#8217;s earnings cannot be emphasized enough. A lot is riding on the earnings reports of companies like Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (GOOG).
The Season So Far: The percentage of S&amp;P 500 companies that have reported positive earning surprises and the magnitude of earnings surprises are at or above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-19-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-19-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril192024">said</a> FactSet in its report released Friday. That said, substantial downward revisions to earnings per share (EPS) estimates of two healthcare companies have led to a decline in earnings growth over the past two weeks.
The combined earnings per share growth rate of S&amp;P 500 companies, considering both the already reported actual results and the estimates for those yet to report, is at 0.5%, according to FactSet. The metric, however, fell from the 0.9% estimated previous week and the 3.4% estimated at the end of the first quarter. Earnings growth for the quarter may extend the positive growth streak to three quarters.
So far, 14% of the S&amp;P 500 companies have reported March quarter results. 
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks To Buy Right Now</a>
Look Ahead: The upcoming week will likely feature earnings releases from 158 S&amp;P 500 companies, including 11 Dow 30 components. With the bank earnings tapering off, the spotlight shifts to tech companies, as they begin to roll out their quarterly scorecard this week.
Apart from some big techs, which are part of the group called the &#8220;Magnificent Seven,&#8221; homebuilders, defense contractors, airlines and transportation companies are also due to release their quarterly reports. 
All eyes are focused on Tesla as analysts expect a downbeat report from the company. Analysts see the scope of a further contraction in margin and potentially a double miss yet again in the first quarter.
AI stalwarts Microsoft, Alphabet and Meta are widely expected to report strong results. Following the recent tech-led sell-off, Wedbush analyst Daniel Ives said, &#8220;We believe 1Q earnings will be a major positive catalyst for the tech sector and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38252477/why-microsoft-alphabet-amazon-palantir-and-meta-could-rise-15-in-2024-according-to-">expect tech stocks to be up another 15% for the year</a> adding to the strong start to 2024.&#8221;
The earnings schedule of key names are as follows:
Monday 
<ul>
<li>Before the bell: Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), Zions Bancorporation, National Association (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>)</li>
<li>After the close: Ameriprise Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) and SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), PepsiCo. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) and Xerox Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NYSE">XRX</a>), Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</li>
<li>After the close: Visa, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Tesla, Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>)</li>
</ul>
Wednesday 
<ul>
<li>Before the bell: Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>), Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>), Hasbro, Inc. (NASDA: HAS), General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), Biogen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) and AT&amp;T Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</li>
<li>After the close: Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>), Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>), Meta Platforms, Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), AstraZeneca Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>), Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>)</li>
<li>After the close: Alphabet, Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft, Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>), Autoliv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>), AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>), Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session down 0.87% at $495.16, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech companies, has lost 7.72% from its all-time intraday high of $449.34 (March 21).
Read Next: <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">Nvidia In Correction Territory — Did AI-Led Tech Stock Bubble Just Burst? This Data Point Offers A Clue.</a>
Photo: Shutterstock

Analyst Color

Tech

ABBV

BIIB

CHTR

CMCSA

GILD

INTC

JBLU

JNPR

KLAC

LRCX

MBLY

NDAQ

ODFL

ORLY

ROKU

SPOT

STLD

TDOC

TMUS

Can Magnificent 7 Help Script Market Turnaround? Earnings Pick Up Pace With Microsoft, Meta, Alphabet And Tesla Expected This Week

4 analysts have expressed a variety of opinions on Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $24.06, along with a high estimate of $27.25 and a low estimate of $22.00. This current average represents a 2.79% decrease from the previous average price target of $24.75. 
<img src="https://www.benzinga.com/files/images/story/2024/1713355278_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The perception of Albertsons Companies by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$27.25</td>
<td>$27.25</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$22.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$23.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$24.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Albertsons Companies. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Albertsons Companies compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Albertsons Companies's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Albertsons Companies's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ACI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Albertsons Companies analyst ratings.</a>
<h2>Unveiling the Story Behind Albertsons Companies</h2>
Albertsons is the second largest supermarket operator in the United States with over 2,200 stores across a variety of banners. About 80% of the firm's sales stem from non-perishable and fresh food, of which 25% comes from its portfolio of private brands. The company also operates fuel centers and pharmacies at about 20% and 75% of its store locations, respectively. Albertsons went public in 2020 following years of ownership under private equity firm Cerberus Capital Management, which still owns about one-quarter of outstanding shares.
<h3>Albertsons Companies: Delving into Financials</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Albertsons Companies displayed positive results in 3 months. As of 30 November, 2023, the company achieved a solid revenue growth rate of approximately 2.22%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Staples sector.
Net Margin: Albertsons Companies's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.95% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 15.24%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Albertsons Companies's ROA excels beyond industry benchmarks, reaching 1.37%. This signifies efficient management of assets and strong financial health.
Debt Management: Albertsons Companies's debt-to-equity ratio stands notably higher than the industry average, reaching 5.83. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Basics of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Expectations For Albertsons Companies's Future

Telsey Advisory Group analyst Joseph Feldman reiterates Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) with a Market Perform and maintains $27.25 price target.

Reiteration

Telsey Advisory Group Reiterates Market Perform on Albertsons Companies, Maintains $27.25 Price Target

Evercore ISI Group analyst Michael Montani maintains Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) with a In-Line and lowers the price target from $23 to $22.

Evercore ISI Group Maintains In-Line on Albertsons Companies, Lowers Price Target to $22

Nothing strikes more fear in the hearts of stock market bears than two simple words: short squeeze. Like a tsunami, a short squeeze can wreak havoc on unexpectant bears as they frantically rush to cover short positions, inadvertently driving prices even higher in the process. The parabolic surge is the stuff of dreams for bulls as they see account values spike with joy. Meme stocks thrived on short squeezes in 2021.
The formula for a short squeeze includes a high short interest, a small float and a surprise catalyst or two. Here are 3 stocks with the potential for the proverbial spark in a kerosene-soaked warehouse-like short squeeze to trigger.
<h2>Symbotic </h2>
Symbotic Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sym#NASDAQ">SYM</a>) is a robotics and artificial intelligence (AI) company specializing in warehouse automation. The business services sector company designs and constructs automated warehouse robot systems to enhance efficiency and productivity. It embodies three secular tailwinds: AI, automation and Internet-of-Things (IoT). It counts retail giants Walmart Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>), Target Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgt#NYSE">TGT</a>) and Albertsons Cos. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aci#NYSE">ACI</a>) as some of its largest customers.
Walmart took an 11% stake in the company and has integrated Symbiotic into all its 42 regional distribution centers. The company has plans to offer warehouse-as-a-service (WaaS) through a joint venture, GreenBox Systems, with major investor SoftBank. While SYM has a large 356 million share float, it has a high short interest of 27.13%.
<h2>Surging Growth</h2>
Symbotic reported a fiscal Q1 2024 GAAP EPS loss of 2 cents, missing 2 cents profit consensus estimates. Revenues surged 78.6% YoY to $368.45 million, slightly missing consensus estimates of $368.84 million. The company provided flat in-line guidance for fiscal Q2 2024 for $400 million to $420 million versus $402.34 million consensus estimates.
Symbotic CEO Rick Cohen was upbeat and commented, &quot;&quot;Fiscal year 2024 is off to a solid start with strong financial and operational results. I am pleased with the trajectory and goals we have planned for the rest of the year. We will continue to innovate and build deployment capacity to support growth and increased profitability for our stakeholders.&quot;
<img alt="Symbiotic stock chart " class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240407140902_charts-sym.jpg" style="height:794px; width:915px" />
<h2>Daily Symmetrical Triangle Pattern &nbsp;</h2>
The daily candlestick chart for SYM illustrates a symmetrical triangle pattern. The descending upper trendline formed at $59.82 on November 28, 2023, capping lower highs on bounces. The ascending lower trendline formed at $30.60 on November 13, 2023, bouncing higher and lower on pullbacks. SYM is nearing the apex point as it gets ready to either break out through the upper trendline or break down through the lower trendline.
The daily relative strength index (RSI) is attempting to coil off the 48-band. Pullback support levels are at $38.99, $37.22, $33.93 and $29.62.
Symbiotic analyst ratings and price targets are at MarketBeat.
<h2>Intuitive Machines </h2>
Intuitive Machines Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lunr#NASDAQ">LUNR</a>) provides space exploration services to enable human and scientific exploration on the moon. The company manufactures lunar landers that deliver payloads comprised of cargo and scientific instruments on the moon. The company is contracted with NASA for multiple missions.&nbsp; Intuitive Machines is also developing a lunar terrain vehicle (LTV) that can provide mobility on the moon&#39;s surface. The company has a small 25.7 million share float and a 21.82% short interest. However, it filed for an offering of $300 million in class A common stock and also the resale of 159.81 million shares of class A stock by selling stockholders.
<h2>Fourth-Quarter 2023 Earnings </h2>
Intuitive Machines contracted backlog rose to $268.6 million at the quarter&#39;s end, driven primarily by the first NASA OMES III task orders. Revenues were $30.6 million, driven by three NASA Commercial Lunar Payload Services (CLPS) initiative contracts, down from $38.6 million in the year-ago period. Full-year revenues were $79.5 million compared to $85.9 million in the year-ago period. Full-year operating losses were $56.2 million compared to a loss of 5.9 million in the year-ago period. The company closed the quarter with $54.6 million.
Intuitive Machines CEO Steve Altemus commented, &quot;Exactly one year after going public, Intuitive Machines launched its IM-1 mission, and one week later, on February 22, 2024, we successfully landed, marking the United States&#39; first lunar landing in over 50 years.&quot; Altemus continued, &quot;The successful landing, recognized by the White House, NASA, and our commercial customers, fundamentally disrupted the economics of landing on the Moon while substantially retiring the costs of developing a lunar program.&quot;
<img alt="Intuitive machines stock chart " class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240407140922_charts-lunr.jpg" style="height:795px; width:915px" />
<h2>Daily Descending Triangle </h2>
The daily candlestick chart on LUNR has a descending triangle pattern. The descending trendline formed at the $13.25 swing high on February 21, 2024, as it capped bounces at lower highs. The flat-bottom lower trendline formed at $5.05. The daily RSI has been drifting around the $46 band. Pullback support levels are at $5.05, $4.46, $3.76, and $3.38.
<h2>Wayfair </h2>
Wayfair Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/w#NYSE">W</a>) is an online furniture and household products retailer for consumers to access through its e-commerce platform. Accessibility and convenience are two drivers for its success against brick-and-mortar furniture competitors. Rather than shuffling through physical showrooms and dealing with traffic, parking, and weather constraints, customers can sift through collections seamlessly at the click of a mouse. The company has also implemented free shipping, a loyalty program and white glove delivery options.
<h2>Outperforming Brick-and-Mortar Competitors </h2>
Most furniture retailers are experiencing revenue declines, like Haverty Furniture Cos. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hvt#NYSE">HVT</a>) with a 24% YoY Q4 2023 revenue decline and La-Z-Boy Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lzb#NYSE">LZB</a>) with a 12.6% YoY fiscal Q3 2024 revenue decline, respectively.&nbsp; Wayfair experienced 0.4% revenue growth in its Q4 2023 quarter. It should be one of the first to recover when interest rate cuts commence. Year-over-year operating margin3 expansion.&quot;
<img alt="Wayfair stock price " class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240407140946_charts-w.jpg" style="height:791px; width:915px" />
Daily Ascending Triangle
The daily candlestick chart on W continues to trade in the daily ascending triangle pattern. Just as it appears to start breaking down through its lower ascending triangle, buyers come into potentially holding the line. The daily RSI also continues to float sideways around the 53-band. Pullback supports remain at the $58.98, $55.30, $51.83 and $48.99 levels.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/3-high-short-interest-stocks-ready-to-squeeze/">3 High Short Interest Stocks Ready to Squeeze </a>&quot; first appeared on MarketBeat.

Small Cap

LUNR

3 High Short Interest Stocks Ready to Squeeze

In a legal battle concerning the proposed acquisition of&nbsp;Kroger Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) over rival&nbsp;Albertsons Companies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), a Colorado court has reportedly scheduled a preliminary injunction hearing slated for mid-August.
This precedes a U.S. government antitrust challenge against the deal, according to a&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-25/kroger-albertsons-hearing-ordered-in-colorado-before-ftc-case?srnd=industries-consumer&amp;sref=TBDibEcD" rel="noreferrer noopener">report&nbsp;</a>from Bloomberg.
Judge Andrew Luxen of Denver District Court announced that the hearing would take place from Aug. 12-22, a fortnight ahead of a federal court hearing on the Federal Trade Commission&#8217;s (FTC) attempts to block the merger.
The U.S. Federal Trade Commission&#8217;s effort to halt the merger is&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37612909/ftcs-kroger-albertsons-deal-challenge-set-for-august-trial-report" rel="noreferrer noopener">slated for trial in Oregon at the end of August</a>.
Matthew Wolf, representing Kroger, mentioned a potential &#8220;enhanced divestiture package&#8221; with&nbsp;C&amp;S Wholesale Grocers Inc.&nbsp;This proposal aims to address concerns raised by the Colorado Attorney General&#8217;s office, awaiting further details.
Arthur Biller from Colorado&#8217;s legal team reportedly expressed uncertainty about receiving the revised remedy proposal, emphasizing the ongoing legal complexities surrounding the merger.
The merger agreement, with an outside date of Oct. 9, presents financing challenges if extended beyond that, although Kroger remains open to the idea, according to Wolf.
Price Action: KR shares are trading lower by 0.02% at $55.95 in premarket on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Media

Colorado Court Hearing On Kroger-Albertsons Deal Scheduled For Mid-August: Report

<a href="https://www.grocerydive.com/news/kroger-albertsons-revise-divestiture-deal-ftc-analysts/710633/">https://www.grocerydive.com/news/kroger-albertsons-revise-divestiture-deal-ftc-analysts/710633/</a>
&nbsp;
&nbsp;

Legal

Colorado Court Sets Kroger-Albertsons Hearing Before FTC Case

The U.S. Federal Trade Commission&#8217;s effort to halt the $24.6 billion merger between&nbsp;Kroger Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and&nbsp;Albertsons Companies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) is reportedly slated for trial in Oregon at the end of August.
U.S. District Judge Adrienne Nelson set the trial to commence on August 26 in Portland, anticipated to span two to three weeks,&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-11/us-ftc-s-kroger-albertsons-challenge-suit-headed-to-trial-in-august?srnd=industries-v2&amp;sref=TBDibEcD" rel="noreferrer noopener">reported&nbsp;</a>Bloomberg.
The merger, if approved, would mark the largest deal in U.S. grocery history.&nbsp;
The FTC, backed by eight states and Washington D.C., alleges the merger would adversely impact&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/02/37320300/antitrust-regulator-files-lawsuit-to-block-krogers-25b-bid-for-albertsons" rel="noreferrer noopener">worker wages and consumer prices.</a>
Kroger and Albertsons argue it&#8217;s necessary to compete with major non-union competitors like&nbsp;Amazon.com&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),&nbsp;Walmart Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and&nbsp;Costco Wholesale Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>).
The companies propose significant investments to mitigate concerns, including $500 million to lower prices and $1 billion for worker wages and benefits.
However, the FTC deems their divestment plan inadequate,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/09/34361352/kroger-and-albertsons-seal-the-deal-a-1-9b-sale-to-change-the-grocery-game" rel="noreferrer noopener">urging for further concessions.</a>
Kroger and Albertsons, collectively operating nearly 5,000 supermarkets nationwide, contend that blocking the merger would disadvantage consumers and workers while bolstering larger rivals.
Price Action:&nbsp;KR shares closed lower by 1.75% at $54.99 on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

AMZN

COST

FTC's Kroger-Albertsons Deal Challenge Set For August Trial: Report

In the latest quarter, 6 analysts provided ratings for Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), showcasing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Albertsons Companies, revealing an average target of $24.88, a high estimate of $27.25, and a low estimate of $23.00. Witnessing a positive shift, the current average has risen by 0.85% from the previous average price target of $24.67.
<img src="https://www.benzinga.com/files/images/story/2024/1709913631_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A comprehensive examination of how financial experts perceive Albertsons Companies is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$23.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$24.00</td>
<td>-</td>
</tr>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$24.00</td>
<td>-</td>
</tr>
<tr>
<td>Ivan Feinseth</td>
<td>Tigress Financial</td>
<td>Maintains</td>
<td>Buy</td>
<td>$27.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Bill Kirk</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Neutral</td>
<td>$24.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$27.25</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Albertsons Companies. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Albertsons Companies compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Albertsons Companies's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Albertsons Companies's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/ACI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Albertsons Companies analyst ratings.</a>
<h2>Unveiling the Story Behind Albertsons Companies</h2>
Albertsons is the second-largest conventional grocer in America, operating 2,271 stores under 24 banners in 34 states (as of the end of fiscal 2022). Around 75% of stores have pharmacies, while nearly 20% also sell fuel. Albertsons has a significant private-label operation, accounting for around 25% of sales (excluding fuel). While its own brand assortment is mainly manufactured by third parties, Albertsons operates 19 food production plants (as of the end of fiscal 2022). Albertsons is a top two grocer in two thirds of its major markets (as of early 2022, according to company data), and virtually all of its sales come from the United States. Narrow-moat Kroger has offered to acquire Albertsons in a $25 billion deal; if the transaction is approved by regulators, it should close in 2024.
<h3>Key Indicators: Albertsons Companies's Financial Health</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Albertsons Companies's remarkable performance in 3 months is evident. As of 30 November, 2023, the company achieved an impressive revenue growth rate of 2.22%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Consumer Staples sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 1.95%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Albertsons Companies's ROE stands out, surpassing industry averages. With an impressive ROE of 15.24%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Albertsons Companies's ROA stands out, surpassing industry averages. With an impressive ROA of 1.37%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a high debt-to-equity ratio of 5.83, Albertsons Companies faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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