Brokerages Expect Grocery Outlet Holding Corp. (NASDAQ:GO) Will Post Earnings of $0.19 Per Share

Equities research analysts forecast that Grocery Outlet Holding Corp. (NASDAQ:GOGet Rating) will report earnings per share of $0.19 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Grocery Outlet’s earnings, with the highest EPS estimate coming in at $0.20 and the lowest estimate coming in at $0.18. Grocery Outlet reported earnings per share of $0.23 during the same quarter last year, which suggests a negative year-over-year growth rate of 17.4%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Grocery Outlet will report full-year earnings of $0.95 per share for the current financial year, with EPS estimates ranging from $0.93 to $0.97. For the next year, analysts anticipate that the company will post earnings of $1.10 per share, with EPS estimates ranging from $1.05 to $1.14. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Grocery Outlet.

Grocery Outlet (NASDAQ:GOGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported $0.20 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.20. The firm had revenue of $782.70 million for the quarter, compared to the consensus estimate of $778.71 million. Grocery Outlet had a return on equity of 8.98% and a net margin of 2.02%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share.

Several analysts have recently issued reports on GO shares. Bank of America downgraded Grocery Outlet from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $26.00 to $23.00 in a research report on Wednesday, January 19th. TheStreet upgraded Grocery Outlet from a “d+” rating to a “c-” rating in a research note on Friday, February 25th. Telsey Advisory Group reiterated an “outperform” rating on shares of Grocery Outlet in a research note on Thursday, February 24th. Finally, Cowen upped their price target on Grocery Outlet from $30.00 to $32.00 in a research note on Thursday, March 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.40.

In related news, SVP Steven K. Wilson sold 2,469 shares of the business’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $28.33, for a total transaction of $69,946.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas F. Herman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 18th. The shares were sold at an average price of $25.66, for a total transaction of $51,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,980 shares of company stock worth $4,301,778. Company insiders own 11.80% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new position in Grocery Outlet in the 3rd quarter worth about $36,000. Lombard Odier Asset Management USA Corp bought a new position in Grocery Outlet in the 4th quarter worth about $202,000. Trexquant Investment LP bought a new position in Grocery Outlet in the 3rd quarter worth about $207,000. ProShare Advisors LLC bought a new position in Grocery Outlet in the 4th quarter worth about $223,000. Finally, Crossmark Global Holdings Inc. bought a new position in Grocery Outlet in the 4th quarter worth about $229,000. 97.75% of the stock is owned by institutional investors and hedge funds.

GO traded up $0.51 during trading on Wednesday, reaching $34.87. 628,371 shares of the stock were exchanged, compared to its average volume of 825,702. The business’s 50 day moving average price is $29.98 and its two-hundred day moving average price is $27.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.70. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 55.35, a P/E/G ratio of 3.73 and a beta of -0.19. Grocery Outlet has a 1 year low of $21.01 and a 1 year high of $42.29.

About Grocery Outlet (Get Rating)

Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

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