What Analysts Think of Albertsons Stock Ahead of Earnings | Global News Avenue

Albertsons (ACI) will report third-quarter fiscal 2024 results on Wednesday morning, its first report since the grocery chain’s proposed merger with Kroger (South Korea) collapsed last month after Months of legal challenges.

Of the seven analysts tracked by Visible Alpha who cover Albertsons, three “Buy” rating Four of them are rated “hold.” average price target The $23 share price suggests analysts expect the stock to recover about 15% of last year’s losses, as all seven stocks have targets above Monday afternoon’s level of $19.71.

Albertsons expects full-year revenue of $18.81 billion income Revenue for the quarter was $18.56 billion, up from $18.56 billion last year, according to Visible Alpha. Analysts also expect the company to post revenue of $318.1 million, or $0.54 per share. net incomedown from $361.4 million, or $0.62 per share.

First report since Kroger merger canceled

this will be Albertson’s first report Since its nearly $25 billion merge A partnership with Kroger was canceled last month. Federal judge takes side and Federal Trade Commission (FTC)preventing the merge on the grounds that it would May result in less competition In the grocery industry, that means higher prices for consumers and slower wage growth for employees.

The retailer subsequently terminated the merger agreement and has since New legal battle begins. Albertsons sues Kroger, accusing the larger retailer of not doing enough Resolve concerns Regulators seek billions of dollars in damages. Kroger said it “looks forward to responding to these baseless allegations in court” and accused Albertsons of being a violator of the merger agreement.

Both The company has launched new stock buyback Albertsons suspended those plans while it tried to get the merger approved. CEO Vivek Sankaran said last month that the company would provide “more details” on its future plans “no later than” Wednesday’s earnings call.