$0.23 Earnings Per Share Expected for Grocery Outlet Holding Corp. (NASDAQ:GO) This Quarter


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Equities research analysts forecast that Grocery Outlet Holding Corp. (NASDAQ:GO) will report earnings of $0.23 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Grocery Outlet’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.21. Grocery Outlet posted earnings of $0.21 per share during the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The firm is expected to announce its next quarterly earnings report on Tuesday, March 23rd.

According to Zacks, analysts expect that Grocery Outlet will report full-year earnings of $1.48 per share for the current year, with EPS estimates ranging from $1.30 to $1.53. For the next financial year, analysts anticipate that the company will post earnings of $1.16 per share, with EPS estimates ranging from $1.06 to $1.23. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Grocery Outlet.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 10th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.23 by $0.27. The firm had revenue of $764.08 million for the quarter, compared to the consensus estimate of $753.65 million. Grocery Outlet had a net margin of 3.09% and a return on equity of 17.92%.

Several research analysts recently commented on the stock. Berenberg Bank began coverage on shares of Grocery Outlet in a report on Wednesday, November 18th. They set a “buy” rating for the company. BidaskClub upgraded shares of Grocery Outlet from a “sell” rating to a “hold” rating in a research note on Wednesday, December 16th. Zacks Investment Research cut shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating and set a $41.00 price target for the company. in a research note on Tuesday, December 22nd. Morgan Stanley decreased their target price on Grocery Outlet from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 11th. Finally, DA Davidson lowered their price target on shares of Grocery Outlet from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 11th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Grocery Outlet has a consensus rating of “Buy” and a consensus price target of $45.92.

In other Grocery Outlet news, insider Thomas H. Mcmahon sold 24,727 shares of the business’s stock in a transaction dated Friday, December 4th. The shares were sold at an average price of $36.87, for a total value of $911,684.49. Following the transaction, the insider now owns 138,994 shares in the company, valued at $5,124,708.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas F. Herman sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $41.27, for a total value of $82,540.00. Following the transaction, the director now directly owns 25,897 shares of the company’s stock, valued at approximately $1,068,769.19. The disclosure for this sale can be found here. Insiders sold 636,245 shares of company stock worth $24,510,278 in the last quarter. 15.50% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in Grocery Outlet by 2.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 21,400 shares of the company’s stock valued at $840,000 after purchasing an additional 600 shares during the last quarter. Strs Ohio grew its position in Grocery Outlet by 24.5% during the third quarter. Strs Ohio now owns 27,552 shares of the company’s stock valued at $1,083,000 after buying an additional 5,427 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Grocery Outlet by 312.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 10,300 shares of the company’s stock worth $405,000 after purchasing an additional 7,800 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Grocery Outlet by 29.3% in the third quarter. Townsquare Capital LLC now owns 41,205 shares of the company’s stock worth $1,713,000 after buying an additional 9,330 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Grocery Outlet in the third quarter worth approximately $201,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ GO traded down $0.49 on Wednesday, reaching $37.47. The company had a trading volume of 584,471 shares, compared to its average volume of 795,159. The company’s fifty day moving average is $39.68 and its 200-day moving average is $40.26. Grocery Outlet has a 1-year low of $28.11 and a 1-year high of $48.87. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 39.44, a price-to-earnings-growth ratio of 2.24 and a beta of -0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 1.76.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as dairy and deli, produce, and fresh meat and seafood products, as well as grocery, frozen, beer and wine, general merchandise, and health and beauty care products; and natural, organic, specialty, and healthy products.

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