Brokerages Expect Grocery Outlet Holding Corp. (NASDAQ:GO) Will Announce Quarterly Sales of $781.21 Million

Brokerages expect Grocery Outlet Holding Corp. (NASDAQ:GO) to announce sales of $781.21 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Grocery Outlet’s earnings, with the lowest sales estimate coming in at $779.22 million and the highest estimate coming in at $785.00 million. Grocery Outlet posted sales of $764.08 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The firm is scheduled to announce its next earnings report on Tuesday, November 9th.

According to Zacks, analysts expect that Grocery Outlet will report full year sales of $3.08 billion for the current financial year, with estimates ranging from $3.07 billion to $3.09 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.42 billion, with estimates ranging from $3.40 billion to $3.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Grocery Outlet.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Monday, August 9th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $775.54 million for the quarter, compared to the consensus estimate of $774.31 million. Grocery Outlet had a return on equity of 12.73% and a net margin of 3.33%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS.

GO has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the company from $45.00 to $32.00 in a research report on Friday, June 4th. Telsey Advisory Group decreased their target price on shares of Grocery Outlet from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, August 11th. TheStreet lowered shares of Grocery Outlet from a “c-” rating to a “d+” rating in a research report on Thursday. Craig Hallum reduced their price objective on shares of Grocery Outlet from $42.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, August 11th. Finally, Zacks Investment Research lowered shares of Grocery Outlet from a “hold” rating to a “strong sell” rating and set a $24.00 price objective for the company. in a research report on Thursday, August 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Shares of Grocery Outlet stock traded up $0.08 during trading on Monday, hitting $22.05. 2,155,400 shares of the stock were exchanged, compared to its average volume of 973,049. The stock’s fifty day moving average is $27.71 and its 200 day moving average is $33.27. The stock has a market cap of $2.12 billion, a PE ratio of 21.20, a P/E/G ratio of 4.72 and a beta of -0.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.88. Grocery Outlet has a 12 month low of $21.71 and a 12 month high of $48.87.

In related news, CEO Eric J. Jr. Lindberg sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $34.45, for a total transaction of $861,250.00. Following the transaction, the chief executive officer now owns 72,960 shares of the company’s stock, valued at $2,513,472. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $26.82, for a total transaction of $53,640.00. Following the transaction, the director now directly owns 14,883 shares in the company, valued at approximately $399,162.06. The disclosure for this sale can be found here. Insiders sold 56,000 shares of company stock valued at $1,930,120 over the last three months. 11.80% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Grocery Outlet by 113.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 225,134 shares of the company’s stock valued at $8,841,000 after purchasing an additional 119,698 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Grocery Outlet by 20.9% in the second quarter. Rice Hall James & Associates LLC now owns 110,397 shares of the company’s stock worth $3,826,000 after acquiring an additional 19,059 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Grocery Outlet by 29.6% in the first quarter. Russell Investments Group Ltd. now owns 465,740 shares of the company’s stock worth $17,179,000 after acquiring an additional 106,392 shares during the last quarter. Eaton Vance Management grew its stake in shares of Grocery Outlet by 12.6% in the first quarter. Eaton Vance Management now owns 28,166 shares of the company’s stock worth $1,039,000 after acquiring an additional 3,160 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of Grocery Outlet by 6.5% in the first quarter. FIL Ltd now owns 1,177,392 shares of the company’s stock worth $43,434,000 after acquiring an additional 72,029 shares during the last quarter. Institutional investors own 99.57% of the company’s stock.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.

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Earnings History and Estimates for Grocery Outlet (NASDAQ:GO)

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