Kroger (NYSE:KR) Updates FY 2019 Earnings Guidance

Kroger (NYSE:KR) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.30-2.40 for the period. Kroger also updated its FY20 guidance to $2.15-2.25 EPS.

Shares of NYSE KR opened at $26.23 on Friday. The stock has a fifty day simple moving average of $23.17 and a two-hundred day simple moving average of $23.96. Kroger has a 1-year low of $20.70 and a 1-year high of $31.98. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.80 and a beta of 0.56. The company has a current ratio of 0.76, a quick ratio of 0.25 and a debt-to-equity ratio of 2.15.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, September 12th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. Kroger had a return on equity of 21.17% and a net margin of 1.36%. The business had revenue of $28.17 billion during the quarter, compared to analyst estimates of $28.34 billion. During the same period in the prior year, the company earned $0.41 earnings per share. Kroger’s revenue was up .5% compared to the same quarter last year. Analysts forecast that Kroger will post 2.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.44%. This is a positive change from Kroger’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, August 14th. Kroger’s dividend payout ratio is 30.33%.

Several equities analysts have weighed in on KR shares. UBS Group increased their price objective on Kroger from $25.00 to $26.00 and gave the company a neutral rating in a report on Friday. ValuEngine raised Kroger from a strong sell rating to a sell rating in a report on Thursday, August 8th. Telsey Advisory Group reissued a market perform rating and set a $27.00 price objective (down from $29.00) on shares of Kroger in a report on Friday, June 21st. TheStreet downgraded Kroger from a b- rating to a c+ rating in a research report on Wednesday, June 5th. Finally, Guggenheim set a $26.00 target price on Kroger and gave the stock a buy rating in a research report on Tuesday, September 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $28.18.

In other Kroger news, Director Ronald Sargent acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were bought at an average price of $21.49 per share, for a total transaction of $107,450.00. Following the completion of the transaction, the director now owns 94,660 shares of the company’s stock, valued at approximately $2,034,243.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP J Michael Schlotman sold 15,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.01, for a total value of $330,150.00. Following the completion of the sale, the executive vice president now owns 270,655 shares in the company, valued at approximately $5,957,116.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,600 shares of company stock worth $955,450. Company insiders own 1.34% of the company’s stock.

Kroger Company Profile

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.

Further Reading: Cost of Debt

Earnings History and Estimates for Kroger (NYSE:KR)

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