Q3 2024 Earnings Estimate for Grocery Outlet Holding Corp. (NASDAQ:GO) Issued By Zacks Research

Grocery Outlet Holding Corp. (NASDAQ:GO) – Analysts at Zacks Research decreased their Q3 2024 earnings per share estimates for shares of Grocery Outlet in a research report issued on Tuesday, September 10th. Zacks Research analyst S. Singh now expects that the company will earn $0.19 per share for the quarter, down from their previous forecast of $0.27. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.68 per share. Zacks Research also issued estimates for Grocery Outlet’s Q4 2024 earnings at $0.24 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.25 EPS, FY2025 earnings at $0.86 EPS, Q2 2026 earnings at $0.27 EPS and FY2026 earnings at $0.98 EPS.

Several other analysts also recently commented on GO. Roth Mkm reduced their price objective on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. UBS Group reduced their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group reduced their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.75.

Grocery Outlet Stock Down 1.3 %

Shares of NASDAQ GO opened at $16.27 on Friday. The stock has a market cap of $1.59 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 3.16 and a beta of 0.10. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Grocery Outlet has a 52-week low of $16.06 and a 52-week high of $30.41. The business has a 50-day moving average price of $19.29 and a 200 day moving average price of $22.69.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the sale, the director now owns 70,938 shares in the company, valued at approximately $1,335,762.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 300,000 shares of company stock worth $5,617,000. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds have recently made changes to their positions in GO. Boulder Hill Capital Management LP acquired a new position in Grocery Outlet in the fourth quarter valued at $2,038,000. Charles Schwab Investment Management Inc. raised its position in Grocery Outlet by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company’s stock valued at $23,701,000 after purchasing an additional 38,506 shares during the period. Capstone Investment Advisors LLC raised its position in Grocery Outlet by 161.1% in the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after purchasing an additional 57,496 shares during the period. Capital Research Global Investors raised its position in Grocery Outlet by 2.2% in the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after purchasing an additional 199,926 shares during the period. Finally, Capital World Investors raised its position in Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.