Grocery Outlet (NASDAQ:GO – Get Rating) will be announcing its earnings results after the market closes on Tuesday, May 10th. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Grocery Outlet has set its FY 2022 guidance at $0.920-$0.970 EPS and its FY22 guidance at $0.92-0.97 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.
Grocery Outlet (NASDAQ:GO – Get Rating) last posted its quarterly earnings data on Tuesday, March 1st. The company reported $0.20 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. Grocery Outlet had a net margin of 2.02% and a return on equity of 8.98%. The business had revenue of $782.70 million during the quarter, compared to analysts’ expectations of $778.71 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. Grocery Outlet’s revenue was down 3.0% compared to the same quarter last year. On average, analysts expect Grocery Outlet to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
GO opened at $33.31 on Tuesday. Grocery Outlet has a twelve month low of $21.01 and a twelve month high of $42.29. The business’s 50-day moving average price is $31.87. 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 $3.21 billion, a PE ratio of 52.87, a price-to-earnings-growth ratio of 3.52 and a beta of -0.19.
Several institutional investors have recently bought and sold shares of the business. Lombard Odier Asset Management USA Corp bought a new position in shares of Grocery Outlet in the 4th quarter worth $202,000. LPL Financial LLC bought a new position in shares of Grocery Outlet in the 4th quarter worth $333,000. Metropolitan Life Insurance Co NY lifted its holdings in shares of Grocery Outlet by 10.1% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 15,633 shares of the company’s stock worth $442,000 after purchasing an additional 1,432 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Grocery Outlet by 0.6% in the 4th quarter. Amalgamated Bank now owns 62,654 shares of the company’s stock worth $1,772,000 after purchasing an additional 371 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Grocery Outlet by 11.9% in the 4th quarter. Legal & General Group Plc now owns 134,799 shares of the company’s stock worth $3,812,000 after purchasing an additional 14,355 shares in the last quarter. Hedge funds and other institutional investors own 96.41% of the company’s stock.
Several research firms recently weighed in on GO. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Grocery Outlet in a research report on Thursday, February 24th. Cowen increased their target price on shares of Grocery Outlet from $30.00 to $32.00 in a report on Thursday, March 3rd. TheStreet raised shares of Grocery Outlet from a “d+” rating to a “c-” rating in a report on Friday, February 25th. Finally, Bank of America raised shares of Grocery Outlet from an “underperform” rating to a “buy” rating and increased their target price for the stock from $23.00 to $37.00 in a report on Friday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.80.
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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