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Albertsons Companies Inc. (NYSE: ACI)’s Upside Potential Is High

Albertsons Companies Inc. (NYSE:ACI) shares, rose in value on Thursday, June 23, with the stock price up by 3.22% to the previous day’s close as strong demand from buyers drove the stock to $29.31.

Actively observing the price movement in the recent trading, the stock is buoying the session at $28.39, falling within a range of $28.23 and $29.03. The PE ratio was 11.13 over 12-month period. Referring to stock’s 52-week performance, its high was $37.99, and the low was $19.05. On the whole, ACI has fluctuated by 3.20% over the past month.

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With the market capitalization of Albertsons Companies Inc. currently standing at about $15.40 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 25, 2022 – Jul 29, 2022. The company’s Forward Dividend Ratio is 0.48, with its dividend yield at 1.69%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.91, which is expected to increase to $0.72 for fiscal year $2.83 and then to about $2.89 by fiscal year 2024. Data indicates that the EPS growth is expected to be -7.80% in 2024, while the next year’s EPS growth is forecast to be 2.10%.

Analysts have estimated the company’s revenue for the quarter at $22.72 billion, with a low estimate of $22.07 billion and a high estimate of $23.28 billion. According to the average forecast, sales growth in current quarter could jump up 11.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $74.61 billion, representing an increase of 3.80% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that ACI’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 185.48, with the price of ACI currently trading nearly -0.77% and -3.65% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.11, while the 7-day volatility ratio is showing 3.92% which for the 30-day chart, stands at 3.48%. Furthermore, Albertsons Companies Inc. (ACI)’s average true range (ATR) is 1.04.

Data on historical trading for Albertsons Companies Inc. (NYSE:ACI) indicates that the trading volumes over the past 10 days have averaged 2.5 million and over the past 3 months, they’ve averaged 2.64 million. According to company’s latest data on outstanding shares, there are 482.20 million shares outstanding.

Nearly 0.80% of Albertsons Companies Inc.’s shares belong to company insiders and institutional investors own 56.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.72 million shares as on May 30, 2022, resulting in a short ratio of 2.59. According to the data, the short interest in Albertsons Companies Inc. (ACI) stood at 1.27% of shares outstanding as of May 30, 2022; the number of short shares registered in Apr 28, 2022 reached 6.95 million. The stock has fallen by -5.96% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ACI stock heading into the next quarter.

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