Wall Street analysts expect Grocery Outlet Holding Corp. (NYSE:GO) to announce earnings of $0.32 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Grocery Outlet’s earnings. Grocery Outlet posted earnings per share of $0.20 in the same quarter last year, which would indicate a positive year-over-year growth rate of 60%. The company is scheduled to issue its next earnings report on Tuesday, August 11th.
On average, analysts expect that Grocery Outlet will report full-year earnings of $0.99 per share for the current financial year, with EPS estimates ranging from $0.96 to $1.02. For the next fiscal year, analysts anticipate that the company will post earnings of $1.01 per share, with EPS estimates ranging from $0.95 to $1.05. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Grocery Outlet.
Grocery Outlet (NYSE:GO) last announced its earnings results on Monday, May 11th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. The company had revenue of $760.30 million during the quarter, compared to the consensus estimate of $748.13 million. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS.
Several research firms have recently weighed in on GO. Morgan Stanley raised their price objective on shares of Grocery Outlet from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Telsey Advisory Group restated an “outperform” rating on shares of Grocery Outlet in a research report on Tuesday, March 17th. Cowen reiterated a “buy” rating and issued a $48.00 target price on shares of Grocery Outlet in a report on Thursday, June 18th. Deutsche Bank increased their price target on shares of Grocery Outlet from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, UBS Group raised their price objective on shares of Grocery Outlet from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Grocery Outlet presently has a consensus rating of “Buy” and a consensus target price of $42.23.
In other news, CAO Pamela B. Burke sold 35,075 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $37.31, for a total transaction of $1,308,648.25. Following the completion of the transaction, the chief accounting officer now directly owns 44,125 shares in the company, valued at approximately $1,646,303.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Lindsay E. Gray sold 1,100 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $35.16, for a total value of $38,676.00. Following the transaction, the vice president now owns 1,500 shares of the company’s stock, valued at $52,740. The disclosure for this sale can be found here. Insiders have sold a total of 17,643,963 shares of company stock valued at $579,389,901 over the last three months.
Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Grocery Outlet by 71.3% during the 1st quarter. State Street Corp now owns 815,635 shares of the company’s stock worth $28,009,000 after acquiring an additional 339,477 shares during the last quarter. Morgan Stanley boosted its position in Grocery Outlet by 21.1% during the 1st quarter. Morgan Stanley now owns 123,172 shares of the company’s stock worth $4,230,000 after acquiring an additional 21,484 shares during the last quarter. FDx Advisors Inc. acquired a new position in Grocery Outlet during the 1st quarter worth approximately $151,000. HighTower Advisors LLC boosted its position in Grocery Outlet by 36.9% during the 1st quarter. HighTower Advisors LLC now owns 9,997 shares of the company’s stock worth $341,000 after acquiring an additional 2,693 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in Grocery Outlet by 27.3% during the 1st quarter. Voloridge Investment Management LLC now owns 10,087 shares of the company’s stock worth $346,000 after acquiring an additional 2,164 shares during the last quarter.
Shares of NYSE:GO traded down $0.86 during trading hours on Thursday, hitting $40.64. 42,799 shares of the company’s stock traded hands, compared to its average volume of 1,387,316. Grocery Outlet has a 52 week low of $28.11 and a 52 week high of $47.57. The company’s fifty day simple moving average is $36.32 and its two-hundred day simple moving average is $33.87.
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 grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.
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