Grocery Outlet (GO) Set to Announce Earnings on Tuesday

Grocery Outlet (NASDAQ:GO) is scheduled to be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.18 per share for the quarter. Grocery Outlet has set its FY24 guidance at $1.14-1.20 EPS and its FY 2024 guidance at 1.140-1.200 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $989.82 million for the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. 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 Up 1.4 %

NASDAQ:GO traded up $0.36 during mid-day trading on Tuesday, reaching $26.14. The stock had a trading volume of 211,434 shares, compared to its average volume of 1,225,436. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 2.52 and a beta of 0.10. The stock’s 50 day simple moving average is $26.96 and its two-hundred day simple moving average is $27.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43. Grocery Outlet has a 1-year low of $23.41 and a 1-year high of $36.54.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group decreased their target price on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, February 28th. Finally, Telsey Advisory Group lowered their price target on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $31.44.

Insider Activity

In related news, insider Andrea Renee Bortner sold 4,112 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $26.33, for a total value of $108,268.96. Following the sale, the insider now owns 49,308 shares in the company, valued at approximately $1,298,279.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Andrea Renee Bortner sold 4,112 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $108,268.96. Following the completion of the transaction, the insider now directly owns 49,308 shares in the company, valued at approximately $1,298,279.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas F. Herman sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the sale, the director now directly owns 10,400 shares in the company, valued at $301,600. The disclosure for this sale can be found here. Insiders have sold a total of 506,588 shares of company stock worth $13,367,577 over the last three months. Corporate insiders own 4.50% 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.