Kroger (NYSE:KR) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Kroger (NYSE:KR) released its earnings results on Thursday. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01, reports. Kroger had a return on equity of 23.50% and a net margin of 2.57%. The firm had revenue of $37.25 billion for the quarter, compared to the consensus estimate of $37.27 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Kroger updated its FY20 guidance to $2.15-2.25 EPS.

Shares of Kroger stock traded down $0.11 during trading hours on Thursday, reaching $23.54. The stock had a trading volume of 15,114,015 shares, compared to its average volume of 7,849,939. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.76 and a quick ratio of 0.28. Kroger has a 1 year low of $22.44 and a 1 year high of $32.74.

In related news, VP Michael Joseph Donnelly sold 10,916 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $25.83, for a total transaction of $281,960.28. Following the sale, the vice president now directly owns 351,095 shares in the company, valued at approximately $9,068,783.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christine S. Wheatley sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $25.21, for a total value of $37,815.00. Following the sale, the insider now owns 126,054 shares in the company, valued at $3,177,821.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,416 shares of company stock worth $732,575. Company insiders own 1.34% of the company’s stock.

Several research firms recently weighed in on KR. Zacks Investment Research upgraded Kroger from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. BMO Capital Markets reduced their target price on Kroger to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday. ValuEngine upgraded Kroger from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. TheStreet downgraded Kroger from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th. Finally, Evercore ISI initiated coverage on Kroger in a report on Wednesday, March 20th. They issued an “in-line” rating and a $27.00 price objective on the stock. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Kroger has an average rating of “Hold” and an average target price of $29.55.

About Kroger

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.

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Earnings History for Kroger (NYSE:KR)

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