Grocery Outlet (GO) to Release Quarterly Earnings on Tuesday

Grocery Outlet (NASDAQ:GO) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, November 5th. Analysts expect Grocery Outlet to post earnings of $0.27 per share for the quarter. Grocery Outlet has set its FY24 guidance at $0.89 to $0.95 EPS and its FY 2024 guidance at 0.890-0.950 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect Grocery Outlet to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Grocery Outlet Stock Performance

NASDAQ GO opened at $16.84 on Tuesday. The business’s 50-day moving average price is $17.07 and its 200 day moving average price is $20.25. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. Grocery Outlet has a twelve month low of $15.18 and a twelve month high of $29.98. The company has a market capitalization of $1.65 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 3.21 and a beta of 0.10.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GO shares. Loop Capital initiated coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price on the stock. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective for the company. UBS Group reduced their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Roth Mkm lowered their price target on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Grocery Outlet presently has an average rating of “Hold” and a consensus target price of $21.60.

About Grocery Outlet

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.