Analysts Anticipate Grocery Outlet Holding Corp. (NASDAQ:GO) Will Post Quarterly Sales of $857.64 Million

Wall Street analysts expect that Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) will post $857.64 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Grocery Outlet’s earnings. The lowest sales estimate is $854.89 million and the highest is $864.70 million. Grocery Outlet posted sales of $775.54 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.6%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Grocery Outlet will report full-year sales of $3.41 billion for the current year, with estimates ranging from $3.40 billion to $3.42 billion. For the next year, analysts forecast that the firm will report sales of $3.76 billion, with estimates ranging from $3.75 billion to $3.79 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Grocery Outlet.

Grocery Outlet (NASDAQ:GO – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $831.40 million for the quarter, compared to analysts’ expectations of $810.39 million. Grocery Outlet had a return on equity of 8.65% and a net margin of 1.74%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS.

Several research firms have recently issued reports on GO. Deutsche Bank Aktiengesellschaft upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $40.00 in a report on Wednesday, May 11th. Telsey Advisory Group restated an “outperform” rating on shares of Grocery Outlet in a report on Thursday, February 24th. TheStreet upgraded shares of Grocery Outlet from a “d+” rating to a “c-” rating in a report on Friday, February 25th. Bank of America upgraded shares of Grocery Outlet from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $37.00 in a report on Friday, April 29th. They noted that the move was a valuation call. Finally, Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.70.

In other news, insider Brian Mcandrews sold 10,000 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $29.26, for a total transaction of $292,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Steven K. Wilson sold 2,469 shares of the company’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 disclosure for this sale can be found here. In the last quarter, insiders sold 216,969 shares of company stock worth $7,508,321. Corporate insiders own 11.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of GO. Morgan Stanley grew its stake in Grocery Outlet by 189.9% in the 2nd quarter. Morgan Stanley now owns 786,403 shares of the company’s stock worth $27,257,000 after acquiring an additional 515,159 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Grocery Outlet by 588.3% during the third quarter. Deutsche Bank AG now owns 40,542 shares of the company’s stock valued at $875,000 after purchasing an additional 34,652 shares in the last quarter. Swiss National Bank boosted its stake in shares of Grocery Outlet by 1.9% during the third quarter. Swiss National Bank now owns 190,300 shares of the company’s stock valued at $4,105,000 after purchasing an additional 3,500 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Grocery Outlet by 4.4% during the third quarter. BlackRock Inc. now owns 7,852,284 shares of the company’s stock valued at $169,372,000 after purchasing an additional 327,834 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Grocery Outlet by 6.6% during the third quarter. Barclays PLC now owns 76,170 shares of the company’s stock valued at $1,643,000 after purchasing an additional 4,686 shares in the last quarter. Institutional investors and hedge funds own 96.41% of the company’s stock.

GO stock opened at $35.03 on Thursday. The firm has a 50 day moving average price of $33.34 and a 200-day moving average price of $29.19. Grocery Outlet has a 52-week low of $21.01 and a 52-week high of $37.82. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 62.55, a PEG ratio of 3.68 and a beta of -0.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 1.90.

Grocery Outlet Company Profile (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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