$83.01 Million in Sales Expected for GrowGeneration Corp. (NASDAQ:GRWG) This Quarter

Wall Street analysts forecast that GrowGeneration Corp. (NASDAQ:GRWG – Get Rating) will announce $83.01 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for GrowGeneration’s earnings. The highest sales estimate is $84.17 million and the lowest is $82.00 million. GrowGeneration posted sales of $90.02 million during the same quarter last year, which suggests a negative year-over-year growth rate of 7.8%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that GrowGeneration will report full-year sales of $426.33 million for the current fiscal year, with estimates ranging from $412.40 million to $435.00 million. For the next financial year, analysts anticipate that the company will report sales of $513.83 million, with estimates ranging from $501.90 million to $522.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for GrowGeneration.

GrowGeneration (NASDAQ:GRWG – Get Rating) last posted its earnings results on Tuesday, March 1st. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. GrowGeneration had a net margin of 3.03% and a return on equity of 3.51%. The business had revenue of $90.60 million for the quarter, compared to analysts’ expectations of $90.81 million. During the same period in the previous year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up 46.1% compared to the same quarter last year.

A number of brokerages have issued reports on GRWG. Craig Hallum cut GrowGeneration from a “buy” rating to a “hold” rating and decreased their target price for the stock from $30.00 to $12.50 in a research report on Friday, January 14th. Lake Street Capital lowered their price objective on GrowGeneration from $44.00 to $19.00 in a research report on Thursday, January 13th. Wells Fargo & Company cut their price objective on GrowGeneration from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 1st. Alliance Global Partners cut their price objective on GrowGeneration from $20.00 to $14.00 in a report on Wednesday, March 2nd. Finally, Zacks Investment Research raised GrowGeneration from a “sell” rating to a “hold” rating in a research report on Wednesday, March 16th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.17.

Shares of NASDAQ GRWG opened at $6.60 on Monday. GrowGeneration has a twelve month low of $6.54 and a twelve month high of $52.80. The company has a market capitalization of $400.65 million, a price-to-earnings ratio of 31.43 and a beta of 2.75. The firm has a 50-day moving average of $8.54 and a two-hundred day moving average of $13.06.

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its position in shares of GrowGeneration by 29.8% in the third quarter. Commonwealth Equity Services LLC now owns 44,646 shares of the company’s stock valued at $1,101,000 after purchasing an additional 10,254 shares in the last quarter. SG Americas Securities LLC grew its position in shares of GrowGeneration by 67.7% in the third quarter. SG Americas Securities LLC now owns 136,468 shares of the company’s stock valued at $3,367,000 after purchasing an additional 55,108 shares in the last quarter. Victory Capital Management Inc. boosted its stake in GrowGeneration by 39.0% during the third quarter. Victory Capital Management Inc. now owns 20,906 shares of the company’s stock valued at $516,000 after buying an additional 5,869 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in GrowGeneration by 24.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 23,012 shares of the company’s stock valued at $568,000 after buying an additional 4,504 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in GrowGeneration by 12.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,673 shares of the company’s stock valued at $609,000 after buying an additional 2,680 shares during the period. 42.38% of the stock is owned by institutional investors and hedge funds.

About GrowGeneration (Get Rating)

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of nutrients, growing media, advanced indoor and greenhouse lighting, environmental control systems, vertical benching, and accessories for hydroponic gardening, as well as other indoor and outdoor growing products.

See Also